|
Newsletters
|
|
|
|
|
|
WirelessDevNet.com Press Release
Nextnation sets its sights on China with acquisition of Vision Phoenix Group Limited
Kuala Lumpur, 19 December 2006 – Malaysia’s leading mobile application service provider (ASP), Nextnation Communication Berhad (Nextnation), announced today the acquisition of the Vision Phoenix Group Limited (Vision Group). The subsidiary will act as Nextnation’s entry point into China, offering next-generation mobile video streaming technology and high capacity value-added telecommunication services. The initial intended investment in Vision Group will be USD250,000 via a cash injection by Nextnation.
“We expect to pioneer mobile video services in the Chinese market, by providing mobile video streaming service platform, broadband and other high speed and high quality applications, on our patented MINDCEP™ platform,” commented Mr. P.Y. Tey, Chief Executive Officer of Nextnation on the acquisition. “Competing in China’s open telecom market will undoubtedly be a challenge, but armed with regional perspective and first-mover advantage in mobile video services, I believe Nextnation will be able to fast track our market expansion plans and grow our market share in China,” he added.
MINDCEP™ is Nextnation’s mobile multimedia communication platform facilitating and enabling mobile data transmission worldwide, using WAP‚ MMS‚ SMS and Java technologies. It is connected to some of the world’s largest premium messaging networks, offering a broad range of services from content distribution to mobile m-commerce, placing the company at the forefront of the rapidly growing messaging market.
As of July 2006, there are more than 431 million mobile subscribers in China and the mobile market is set to eclipse 640 million subscribers by 2010, presenting a great opportunity for the sale of mobile data content, infrastructure and terminal equipment. In addition, improvements in network construction will lead to more 3G subscribers and in the next 5 to 6 years, it is forecasted that 3G subscribers will account for 40% of the overall market. The mobile data market in China has soared with innovative data services appealing particularly to teenagers and young professionals; the target market is also expected to drive demand for mobile video services.
About Nextnation
Nextnation is a leading end-to-end mobile application service provider‚ connected to over 500 mobile networks and supporting thousands of developers and distributors, enabling businesses and individuals to access‚ connect‚ and transact across today's complex global networks. Its core product, MINDCEP™ Platform, is a world class mobile multimedia communication platform‚ facilitating and enabling mobile data transmission worldwide using WAP‚ MMS‚ SMS and Java technologies. MINDCEP™ is connected to some of the largest premium messaging networks in the world, offering a broad range of services from content distribution to mobile m-commerce, placing the company at the forefront of this rapidly growing market. Nextnation provides high quality, cost effective, flexible and powerful value-added solutions specified to our clients’ needs in improving effectiveness and efficiency in the business process as well as to enhance customer satisfaction. Nextnation is a strong believer in customer focused-business and value creation using wireless technologies. Additional news and information about the company is available at www.nextnationnet.com.
|
|
|
