The Beijing News, 5/10/11
An industry insider claimed yesterday that Chinese Internet company Sina (Nasdaq: SINA) and Samsung have formed a partnership under which Sina will operate the Samsung Apps mobile application store for mainland China. Sina plans to transfer the operating rights to 1000CHI Software Technology, a mobile phone download client developer backed by Sina investment.
A spokesperson for Samsung China said that the move is part of Samsung's plan to encourage development of localized mobile applications. Sina's mobile applications will be pre-installed on Samsung handsets. Both sides, however, declined yesterday to release any details of the partnership.
Editor's Note: A representative for 1000CHI confirmed in a telephone interview with Marbridge Consulting that the company has received funding from Sina, but declined to reveal a specific figure.