iPeer is MTK's sole channel vehicle in entertainment and music value-added services in the PRC. MTK is an internationally renowned IC design house and it has a prominent position in the mobile handset market. The output of MTK's mobile chips for the year 2009 exceeded 300 million pieces; it is the second largest global mobile chips supplier. MTK is the market leader in the PRC's mobile chips market.
In the co-operation referred to above, Cmedia will be responsible for the platform's research and development, application layer, mobile client technology development, and marketing, while VODONE Telemedia will be responsible for providing an authorised lottery and entertainment value-added business and payment gateway system. Both parties will work closely with an aim to build up the largest mobile lottery and entertainment platform in the PRC.
This strategic co-operation is an important milestone to VODONE Telemedia, and an important strategic development to VODONE Telemedia's mobile business. VODONE Telemedia will therefore be in a position to embed its lottery business in new mobile handsets in a significantly massive volume in the PRC.
There are about 670 million mobile users in the PRC with a sales volume of about 200 million mobile phones per annum. Approximately 80% of the new mobile handsets could be embedded with VODONE Telemedia's mobile lottery business. Such is believed to have paved way for a substantial future business and earnings growth for VODONE Telemedia's mobile lottery business.
According to Dr. Zhang Lijun, Chairman of VODone, "The cooperation between
VODone and Cmedia enables VODone to become a new media company with a
competitive multimedia platform on a significantly massive number of new
mobile handsets. This is a significant change, as this would bring about
prominent cooperation between an innovative new media cooperation of Mainland
China and high-tech companies of
According to Mr. Zheng Qicheng, Chairman of Cmedia and iPeer, "The technological advantages and the qualification and local business advantages between Cmedia and VODone are very complimentary. The cooperation between us would bring about a new trend and concept to the mobile handset industry in the PRC."
As a result of the great advantages of the two companies, the cooperation between Cmedia and VODone is very important. Both companies have well-respected backgrounds, and potential success can bring about enormous benefits and expectations to the market. Therefore, this cooperation is one that can be considered revolutionary and very meaningful in the development of the industry. It is expected that the first batch of mobile handsets containing mobile lottery, games and entertainment functions by VODone and Cmedia jointly will be launched in March this year.
About VODone Limited
VODone (http://www.vodone.com ) is currently the only Internet video
broadcasting company listed in
China Welfare Lottery Center is responsible for monitoring and controlling
the operations and purchasing of Welfare Lottery in the PRC, and the same as
China Association of Social Workers, it is governed by Ministry of Civil
Och-Ziff Fund holds about 5.6% shareholding interest in VODone. VODone IR website: http://ir.vodone.com
Background of Cmedia
Cmedia was established in 1991 and is a company listed on the Taiwan
Over-the-counter market since
Background of iPeer
iPeer is in important investment for Cmedia in the area of digital music
and multi-media platform. It is principally engaged in digital music,
multi-media entertainment services and platform. The company is also the sole
channel vehicle in entertainment and music value-added services in the PRC.
The investors of iPeer also include MTK. iPeer has invested in HIM (a leading
music company in
Background of MTK
MTK is an internationally renowned IC design house, specializing in
wireless communication and digital media technology etc. It provides chips
with total solution packages to wireless communication, high-definition
digital television, optical storage and high-definition DVD related products.
The company has a leading status in the market of these products. The company
was established in 1997 and is listed on the main board of the Taiwan Stock
Exchange (stock code: 2454). The head office is situated in
This press release is distributed by Wonderful Sky Financial Group Limited on behalf of VODone Limited.
SOURCE VODone Limited