HANGZHOU, China, Sept. 19, 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 business agreements with three coastal provincial divisions of China Unicom. Under the terms of the agreements, Sky-mobi has been designated an official business partner of China Unicom in these regions to promote data packages, and will be eligible to share in a certain portion of the revenue generated.
Michael Tao Song, Chairman and Chief Executive Officer of Sky-mobi stated, "We are happy to expand our business cooperation with China Unicom, further demonstrating our reliability and value-add as a partner of the Chinese telecom operators. Supported by our thriving Maopao Platform and over 200 million mobile internet users, we are employing cloud computing and big data technology to track user behavior and recommend specific content and games to our users. Our strategy to leverage Data Traffic Manager, an app that assists users to monitor and easily purchase data packages, has proven to be a remarkably effective approach to increasing data consumption."
Mr. Song continued, "The data traffic market in China is huge. At approximately $50 to $70 billion USD, it accounts for around 25 to 30% of the Chinese telecom operators' total revenues. That percentage is expected to continue increasing rapidly. Looking at the telecom sector, our mission is both ambitious and achievable; we aim to assume the role of a 'data traffic bank', which facilitates the smooth roll-over of monthly unused data from month to month, essentially accepting deposits of unused data and allowing users to withdraw at their discretion. Achieving this goal, would enable friends and family members to share data not only over a single carrier's network but across all three of the Chinese telecom carriers' networks. We began executing this strategy in baby steps, but now, capitalizing on the marketed-driven reforms of the Chinese telecom industry and our expanded partnership with China Unicom, we're accelerating our execution and penetrating the market one province after another. With a stronger competitive position and a well-developed business expansion strategy, we are confident that we will be able to secure at least 1% of the data traffic market in China in the foreseeable future."
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. 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.