Sky-mobi Announces Agreement With Electronics Retailer Suning to Provide In-Store Smartphone Software Installation Services
November 13, 2012 --
HANGZHOU, China, Nov. 13, 2012 (GLOBE NEWSWIRE) -- 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.
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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:
Mr. Carl Yeung, Chief Financial Officer
Phone: +(86) 571-8777 0978 (Hangzhou)
Investor Relations Contact:
CCG Investor Relations
Mr. John Harmon, CFA, Sr. Account Manager
Tel: +86-10-8573 1014 (Beijing)