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5 years ago
Sky-mobi to provide content on China Mobile platform, shares rise
March 1, 2012 / 3:06 PM / 5 years ago

Sky-mobi to provide content on China Mobile platform, shares rise

* Sky-mobi to provide content to China Mobile's platform

* Shares up 18 pct

March 1 (Reuters) - China's Sky-mobi Ltd said its unit Hangzhou Mijia entered into an agreement to provide mobile games and other content on China Mobile's gaming platform.

Shares of Sky-mobi, which mainly makes applications for low-end feature phones, were up as much as 18 percent at $4.95 in early trade on the Nasdaq.

China Mobile is the world's largest mobile service provider with more than 600 million users.

"Through this arrangement, high quality games will be available to 80 percent of our Maopao (application) users throughout China," Sky-mobi Chief Executive Michael Song said in a statement.

Maopao is a Sky-mobi's mobile application store, pre-installed on most mobile handsets sold in China.

Sky-mobi has been chasing tie-ups to push its community platform, Maopao, where the sale of virtual items is driving revenue growth.

Under the one-year agreement, Sky-mobi will provide single user games and applications, online multi-player games and other content to Jiangsu Mobile, which develops and maintains the gaming platform.

Jiangsu, a unit of China Mobile, will share with Sky-mobi part of the revenue generated by Sky-mobi's paid content on the platform. (Reporting by Rachana Khanzode in Bangalore; Editing by Sreejiraj Eluvangal)

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