Sinobull Network Technology is to begin distributing financial data services to Chinese consumers via mobile short messaging.
The firm, which operates one of the leading financial information portals in China, has signed revenue sharing deals with key players in the mobile data business including, UTStarcom, CellStar, China Telecom 168, HongLian95, Sina.com, and China Telecom Hotline. Sinobull says it will distribute financial information, stock quotes, and analysis on the local and international stock markets to mobile phone subscribers across the country.
China has recently passed Japan and the US and now has the largest mobile phone user population in the world, with approximately 140 million registered subscribers. Data mobile communication is becoming a very important sector of revenue growth for carriers. According to industry reports, SMS traffic is projected to generate approximately $300 million for China's mobile phone markets in 2002.