HANGZHOU, China, Sept. 16, 2014 (GLOBE NEWSWIRE) -- Sky-mobi Limited ("Sky-mobi" or the "Company") (Nasdaq:MOBI), a leading mobile application platform in China, today announced that the Company, through its controlling subsidiary Mopin Technology Co., Ltd., has entered into a strategic partnership with E Surfing ("Tianyi"), China Telecom's mobile internet services platform.
Under the terms of the agreement, Sky-mobi has been designated as an official business partner with China Telecom to provide customized software services at China Telecom's network of physical stores nation-wide. The cooperation spans a wide array of services which include mobile assistant services, product introduction and installation, operational support and data analytics, as well as software tutorials for China Telecom's sales staff.
Michael Tao Song, Chairman and Chief Executive Officer of Sky-mobi stated, "Since 2010, we have worked extensively to develop and refine our model of content distribution via telecom operators' physical stores. Building upon our pre-existing strategic partnerships with China Mobile and China Unicom, the additional cooperation with China Telecom will allow Sky-mobi to expand its coverage with China's big three telecom giants' network of physical stores, strengthen its leadership position and accelerate market penetration amongst grassroots users in China. According to our operational statistics, as of June 30, 2014, the distribution network for our services covered 40,000 operator stores. By the end of 2014, we expect to extend our coverage to over 100,000 locations."
Mr. Song continued, "Having carefully studied user behavior and consumer characteristics, we view our partnership with China Telecom as another win-win opportunity, in which China Telecom stands to improve its traffic management capabilities and user satisfaction by leveraging our expertise in big data and cloud services, and Sky-mobi will benefit from the expanded monetization opportunities resulting from a significant increase in users and content consumption. Supported by our established strategic partnerships with China's big three telecom operators, as well as our on-going smartphone initiatives, we are very confident in our ability to improve our core business, provide innovative solutions in the industry and achieve solid financial growth going forward."
About Sky-mobi Limited
Sky-mobi Limited is a leading mobile application platform in China. 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 on various mobile handsets with different hardware and operating system configurations. The Company's mobile social network community in China, the Maopao Community, offers mobile social games, as well as applications and content with social network functions to its registered users. The Company is based in Hangzhou, China. For more information, please visit: www.sky-mobi.com.
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 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 revenue projections for future periods; 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 28, 2013. 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.