Zhejiang Mobile to Invest RMB 500 Mln in Mobile Reading
Sina Tech, 9/23/09
China Mobile (NYSE: CHL; 0941.HK) announced today that over the next five years it plans to invest RMB 500 mln in constructing a mobile reader base in Zhejiang province. Of this amount, RMB 50 mln is to be invested over the next 2 years.
A source close to the China Mobile Hangzhou Mobile Reader Base project said that mobile reader services are being promoted on a large scale in Zhejiang, but that at present China Mobile subscribers can read all of the books on China Mobile's reader platform free of charge.
At today's Mobile Reader Forum in Hangzhou, China Mobile and ten content partners held a signing ceremony for the operator's mobile reader project. The content providers include the China Writers' Publishing House, the Changjiang Publishing Group, Shanda (Nasdaq: SNDA) subsidiary Shanda Literature, CITIC Press, the Zhejiang Press, the Encyclopedia of China Publishing House, the Hangzhou Daily Publishing Group, online book retailer Fanshu.com, book portal Chineseall.com, and Chinese internet portal Sina (Nasdaq: SINA).
A source at China Mobile's Zhejiang subsidiary says WAP and client-side mobile reader offerings were rolled out in Zhejiang in June. The service now has nearly 2 mln users.
Keywords: capex mobile literature digital publishing China Mobile wireless Shanda Literature CHL Sina 0941.HK Fanshu.com mobile reader content provider
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