Engage Mobility Poised to Penetrate the Largest Smartphone Market in the World
ORLANDO, Fla., Nov. 7, 2013 /PRNewswire/ Engage Mobility, Inc. (OTCQB:ENGA), a provider of mobile marketing technologies and big data solutions, announced that it will soon be entering China, the world's largest smartphone market.
According to the Canalys, China has over 88 million smartphone users, making it the largest smartphone market in the world. This figure represents over a third of all worldwide shipments, and accounts for nearly 3x the size of the U.S. By the end of 2013, China's mobile commerce market will reach $24.2 billion in value, representing approximately 11% of all e-commerce and is a proportion that is on par with the U.S. as cited by BI Intelligence.
"We are so excited to have the opportunity to bring our Mobile Engagement System to the People's Republic of China. And to do so in partnership with one of the largest and most influential media companies in the world, with the full backing of the Chinese government, is truly a watershed event for our Company. We look forward to working with our partners to make Engage the definitive mobile engagement company throughout China," stated Engage CEO Jim Byrd.
As announced on October 3 rd, Engage plans to officially launch a Chinese version of its Mobile Engagement System. Engage expects to finalize its joint venture agreement with Chinese government-backed Xinhua Ruide Technology Co., Ltd. (Xinhua) and Shenzhen Zhichengxin Equity Investment Fund Management, Ltd. in mid-November.
Xinhua Ruide Technology is part of Xinhua News Agency, the official press agency of the People's Republic of China. Xinhua operates 107 foreign bureaus worldwide, and maintains 31 bureaus in China, one for each province, plus a military bureau. Xinhua is a publisher as well as a news agency and owns more than 20 newspapers and a dozen magazines and prints in eight languages: Chinese, English, Spanish, French, Russian, Portuguese, Arabic and Japanese.