Sky-mobi Announces Agreement With Electronics Retailer Suning to Provide In-Store Smartphone Software Installation Services
November 13 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 the signing of an
agreement with Suning Appliance Co., Ltd. ("Suning"), one of
China's largest consumer electronics and appliance retailers, to
cooperate on in-store Smartphone software services, including
providing PC synchronization tools for the loading of mobile
applications onto handsets.
Under the agreement, Sky-mobi will provide a full range of
products and solutions, as well as technical and operational
support. Suning will be authorized to promote Sky-mobi's products
over the next 12 months across its retail sales locations and
include at least one of Sky-mobi's Maopao gaming products in its
recommended PC-to-mobile software installation packages. Both
parties will equally share net income generated from users of
Sky-mobi's Maopao gaming products or other paid applications
through a variety of channels managed under Suning.
"We are excited to enter into this agreement with Suning, the
largest retail consumer electronics and appliance chain in China.
Its scale and prime locations add an important channel for our
Company to make its mobile applications available to an even-larger
base of mobile users, especially the large number of Chinese mobile
users without high-speed access for downloading mobile
applications," commented Michael Song, Chairman and Chief Executive
Officer of Sky-mobi. "This cooperation is the cornerstone to our
unique online-offline strategy and will greatly accelerate the
deployment of our online services at offline physical locations.
Most importantly, it will offer users speedy and convenient access
to the mobile internet experience."
Suning stated, "We are delighted to join forces with such a
well-known mobile app store and network operator such as Sky-mobi,
which will supplement our mobile devices sales user experience. We
believe this agreement will create a win-win situation that will
create value for both parties and, most importantly, for our
customers. Our customers can now shop for a mobile device and at
the same time, quickly and conveniently download the applications
that make the device exciting to experience."
About Suning Appliance Co., Ltd.
Suning Appliance Co., Ltd. is one of the largest electrical
appliance retailers in China, headquartered in Nanjing, Jiangsu
province. It was listed on the Shenzhen Stock Exchange in 2004. As
of June 30, 2012 the company operates a network of over 1,700
stores in 264 cities across China. For more information, please
visit http://www.cnsuning.com.
About Sky-mobi Limited
Sky-mobi Limited operates the leading mobile application store
in China based on number of user visits, downloads and handset
manufacture partners. 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
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 "may," "will,"
''believes,'' ''expects,'' ''anticipates,'' ''intends,''
''estimates,'' "plans," "continues" or other similar expressions,
the negative of these terms, or other comparable terminology. Such
statements, including the statements relating to the Company's
business outlook, 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 mobile
applications-related services; the Company's ability to maintain
relationships with handset companies, content providers and payment
service providers; its dependence on mobile service providers and
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 growing
smart phone market; its ability to obtain and maintain 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 described in the Company's filings with the Securities
and Exchange Commission, including its annual report on Form 20-F
filed on June 29, 2012. These forward-looking statements are based
on current expectations, assumptions, estimates and projections
about the Company and its 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: Company Contact:
Sky-mobi Limited
Mr. Carl Yeung, Chief Financial Officer
Phone: +(86) 571-8777 0978 (Hangzhou)
Email: ir@sky-mobi.com
Investor Relations Contact:
CCG Investor Relations
Mr. John Harmon, CFA, Sr. Account Manager
Tel: +86-10-8573 1014 (Beijing)
E-mail: john.harmon@ccgir.com
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