Ericsson (NASDAQ:ERIC) and Kaixin001, the largest and fastest-growing social networking site in China, are joining forces with a three-year partnership to develop innovative mobile applications that will help millions of users access the site wherever and whenever they want.
Launched in March 2008, Kaixin001 already has more than 50 million subscribers in China and among Chinese speakers across the world, and is attracting about 200,000 new registrations a day.
With subscribers now mainly accessing the website via their PCs, the cooperation between Ericsson and Kaixin001 will bring new applications that will allow users to manage their virtual space, interact with friends and stay updated on their online communities, all via their mobile devices - anytime, anywhere.
Future services could include real-time uploading of photos and videos from mobile phones, SMS alerts on a favorite celebrity's activities, and location-based services, such as checking if friends are nearby.
This builds on Ericsson's portfolio partnership agreements with social networking service providers. Under the agreement, Ericsson will not only work with Kaixin001 to develop innovative mobile applications, but will also create opportunities for Kaixin001 to cooperate with other social networking services, telecom operators and advertising agencies at home and abroad.
Cheng Binghao, President of Kaixin001, says: "We are very excited to be partnering with Ericsson to bring our users fun, innovative and easy-to-use mobile applications that will let them take the Kaixin001 experience wherever they are, whenever they want it. This partnership will open new revenue streams and allow us to take our leading social networking site to the next level."
Mats H Olsson, President of Ericsson Greater China, says: "We are proud to be partnering with Kaixin001 to explore the unlimited business opportunities within the multimedia and internet segments. Ericsson has a superior multimedia offering in a world where telecom, internet and media industries are converging."
Ericsson is the world's leading provider of technology and services to telecom operators. Ericsson is the leader in 2G, 3G and 4G mobile technologies, and provides support for networks with over 1 billion subscribers and has a leading position in managed services. The company's portfolio comprises of mobile and fixed network infrastructure, telecom services, software, broadband and multimedia solutions for operators, enterprises and the media industry. The Sony Ericsson and ST-Ericsson joint ventures provide consumers with feature-rich personal mobile devices.
Ericsson is advancing its vision of "to be the prime driver in an all-communicating world" through innovation, technology, and sustainable business solutions. Working in 175 countries, more than 75,000 employees generated revenue of SEK 209 billion (USD 32.2 billion) in 2008. Founded in 1876 with the headquarters in Stockholm, Sweden, Ericsson is listed on OMX NASDAQ, Stockholm and NASDAQ New York.
Ericsson is a world leader in communications technology and services with headquarters in Stockholm, Sweden. Our organization consists of more than 100,000 experts who provide customers in 180 countries with innovative Solutions and services. Together we are building a more connected future where anyone and any industry is empowered to reach their full potential. Net sales in 2017 were SEK 201.3 billion (USD 23.5 billion). The Ericsson stock is listed on Nasdaq Stockholm and on NASDAQ in New York. Read more on www.ericsson.com.