iFlytek Considers Spin-Off, IPO of Mobile Internet Business

TechWeb, 4/01/13

Jiang Tao, Vice President of Chinese voice recognition software firm Anhui USTC iFlytek (002230.SZ), has announced that the company has registered its mobile internet division as an independent company, "Xunfei Hulian," and is considering a future spin-off and possible IPO for the division.

iFlytek's mobile voice assistant application "Xunfei Yu Dian" was previously rejected by Apple's iTunes App Store on the grounds that it was too similar to Apple's Siri voice assistant. iFlytek's mobile voice assistant app has over 3 mln iOS users, and 10 mln Android users. According to the company, users of iFlytek's voice input software number close to 50 mln.

Editor's Note: For more background on this topic, please see "Apple App Store Approves iFlytek Mobile Voice Assistant" MD 1/08/13 issue.

Keywords: Jiang Tao IPO wireless iFlytek spin-off 002230.SZ mobile Internet voice recognition mobile application

Feedback

Sending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily