Sky-mobi Limited to Provide Content and Service Cooperation to China Mobile Group's Mobile Gaming Platform
March 01 2012 - 8:00AM
Sky-mobi Limited ("Sky-mobi" or the "Company") (Nasdaq:MOBI), a
leading mobile application store and mobile social network
community operator in China, today announced that its subsidiary,
Hangzhou Mijia Technologies Co., Ltd., has entered into a
partnership agreement with China Mobile Group Jiangsu Company
Limited ("Jiangsu Mobile"), a wholly-owned subsidiary of China
Mobile Group, to provide content and operational cooperation for
China Mobile's gaming platform nationwide.
Under the terms of the one-year agreement, Sky-mobi will provide
cooperative content, including single user games and applications,
online multi-player games and other content, on China Mobile
Group's gaming platform along with customer service and operation
cooperation for the games and content for feature
phones. Jiangsu Mobile is responsible for development and
maintenance of the gaming platform, new game screening, launches
and related gaming channel operations, including
collections. Jiangsu Mobile will share revenue with Sky-mobi
based on paid downloads and usage. Over the course of the
agreement both parties will work together on marketing, promotions
and user development.
Mr. Michael Song, Chairman and Chief Executive Officer of
Sky-mobi, stated, "We are pleased to partner with China Mobile to
provide content and operational cooperation for its mobile gaming
platform. China Mobile Group is the leading mobile service
provider in China and our cooperation will further enhance our
industry presence and increase confidence amongst our
subscribers. Through this arrangement, high quality
games will be available to 80% of our Maopao users throughout
China. We expect this partnership will provide both parties with
operational and financial benefits going forward."
About Sky-mobi Limited
Sky-mobi Limited operates the leading mobile application store
in China as measured by revenues in 2010, according to Analysys
International. The company works with handset companies to
pre-install its Maopao mobile application store on handsets and
with content providers to provide users with applications and
content titles. Users of its Maopao store can browse, download, and
enjoy a range of applications and content, such as single-player
games, mobile music, and books. The Company's Maopao store enables
mobile applications and content to be downloaded and run on various
mobile handsets with different hardware and operating system
configurations. The company also operates a mobile social network
community in China, the Maopao Community, where it offers mobile
social games, as well as applications and content with social
network functions to its registered members. The Company is based
in Hangzhou, the People's Republic of China. For more information,
please visit: www.sky-mobi.com.
The Sky-mobi Limited logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=8458
About China Mobile Group
As the leading mobile services provider in China, China Mobile
Group boasts the world's largest mobile network and the world's
largest mobile customer base. As of 31 December 2010, the Group had
a total staff of 164,336 and a customer base of 584 million, and
enjoyed a market share of approximately 69.3% in Mainland China.
The Group's GSM global roaming services covered 237 countries and
regions and its GPRS roaming services covered 186 countries and
regions. The Company owns 100% interest in operating subsidiaries
in 31 provinces in Mainland China and in Hong Kong.
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. In some cases, you can identify
forward-looking statements by such terms as ''believes,''
''expects,'' ''anticipates,'' ''intends,'' ''estimates,'' the
negative of these terms, or other comparable terminology. Such
statements are subject to risks and uncertainties that could cause
actual results to differ materially from those projected. Potential
risks and uncertainties include the effectiveness, profitability,
and marketability of the Company's solutions; the Company's limited
operating history; measures introduced by the PRC government and
mobile network operators aimed at the telecommunications industry
and mobile applications-related services; the Company's ability to
maintain cooperation relationships with handset companies, content
providers and payment service providers; its dependence on mobile
service providers, and ultimately mobile network operators, for the
collection of a substantial majority of its revenues; billing and
transmission failures, which are often beyond the Company's
control; its ability to compete effectively; its ability to capture
opportunities in the expected growth of the smart phone market; its
ability to obtain and maintain all applicable permits and
approvals; general economic and business conditions; the volatility
of the Company's operating results and financial condition; the
Company's ability to attract or retain qualified senior management
personnel and research and development staff; and other risks
detailed in the Company's filings with the Securities and Exchange
Commission. These forward-looking statements are based on current
expectations, assumptions, estimates and projections about the
Company and the industry. The Company undertakes no obligation to
update forward-looking statements to reflect subsequent occurring
events or circumstances, or changes in its expectations, except as
may be required by law.
CONTACT: Sky-mobi Limited
Mr. Carl Yeung, CFO
Phone: +(86) 571-87770978 (Hangzhou)
Email: ir@sky-mobi.com
CCG Investor Relations
Elaine Ketchmere, Partner and VP
Phone: +(1) 310-954-1345 (Los Angeles)
Email: elaine.ketchmere@ccgir.com
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