Investment to Increase Offering of High-Quality Wireless Applications
BEIJING, Aug. 9 /Xinhua-PRNewswire/ -- TOM Online Inc. (Nasdaq: TOMO, HONG
KONG GEM stock code: 8282), a leading mobile internet company in China,
QUALCOMM Incorporated (Nasdaq: QCOM), pioneer and world leader of Code
Division Multiple Access (CDMA) digital wireless technology; and IDG
Technology Venture Investment, a US venture fund focusing on the information
technology industry in China, today announced the successful closing of their
joint venture in Sichuan Great Wall Software Group (Great Wall), aggregating
to an amount of US$3.5 million.
Based in Chengdu, Sichuan province, Great Wall is a leading software
developer and application provider for wireless phones, with experience in
developing high-quality applications for QUALCOMM's BREW(R) solution, location
based technologies such as QUALCOMM's gpsOne, WAP, MMS and Java. Great Wall's
highly innovative service portfolio includes City Online, a location based
service that offers city maps, travel assistance for points of interest and
yellow pages; Business Travel Companion, which offers an online travel package
and hotel reservations using a mobile handset; and Xin Gang Dating, a wireless
dating and community service. Great Wall's leading edge development work has
provided a compelling set of BREW applications for handset manufacturers such
as TCL and Motorola. The upcoming deployment of gpsOne in China by QUALCOMM
and China Unicom will increase the number of innovative services and benefits
offered to Great Wall's customers, enabling Great Wall to capture the
opportunities that result from the deployment of next generation wireless
networks.
''We are very pleased to join QUALCOMM and IDGVC in this strategic
investment and our participation in Great Wall's financing complements TOM
Online's ongoing mission to be the leading mobile Internet company in China,''
said Mr. Wang Lei Lei, executive director and chief executive officer of TOM
Online. ''The investment in Great Wall will expand our product and service
offerings by utilizing BREW and Java based applications, which can support
more interactive and innovative content and products, enabling us to grow our
market share while further solidifying our leadership in the wireless Internet
market.''
''Great Wall is poised to lead the market in the forthcoming gpsOne
solution and BREW applications,'' said Jing Wang, senior vice president of
QUALCOMM and chairman of Greater China. ''Through our co-investment with TOM
Online and IDGVC, we are pleased to collaborate with the high level of
software developer talent in China, as this resource will allow Great Wall to
further enhance and increase the range of BREW-based services and applications
it offers its customers.''
''We are very pleased to have TOM Online, QUALCOMM and IDGVC as our
investors and partners,'' said Mr. Xin Liu, chief executive officer of Great
Wall Software. ''The investment by TOM Online and QUALCOMM will not only
provide us with the capital to fund our daily operation and expand our R&D
capability but also bring us an unsurpassed distribution network. The BREW
solution has proven to be a key component in bringing high quality content to
China.''
About TOM Online
TOM Online Inc. (Hong Kong GEM: 8282, Nasdaq: TOMO) is a leading mobile
Internet company in China providing value-added multimedia products and
services. A premier online brand in China targeting the young and trendy
demographic, the company's primary business activities include wireless
Internet services, online advertising. The company offers an array of
services such as SMS, MMS, WAP, wireless interactive voice response services,
content channels, search and classified information, free and fee-based
advanced email and online games. As of June 30, 2003, TOM Online is the only
portal in China that enjoyed a top three ranking in every wireless Internet
service segment.
TOM Online is a subsidiary of TOM Group Limited (''TOM Group''), one of
the leading Chinese language media groups in the Greater China region. TOM
Group's diverse operations span five media sectors: the Internet (through TOM
Online Inc.), outdoor (through TOM Outdoor Media Group), publishing, sports
and TV & entertainment.
About IDG Technology Venture Investment
IDG Technology Venture Investment, LP (IDGVC) has the distinction of being
the first American venture capital companies to enter the Chinese market. In
addition to providing venture capital, IDGVC offers an array of value-added
services and in-depth support to entrepreneurs in China's high-tech industries.
To date, IDGVC has invested more than $100 million in China's burgeoning
entrepreneurial community. One of IDGVC's greatest strengths is its close
relationship with local entrepreneurs. It has a proven track record of
finding and working with individuals capable of building world-class
technology companies.
About QUALCOMM Incorporated
QUALCOMM Incorporated ( http://www.qualcomm.com ) is a leader in
developing and delivering innovative digital wireless communications products
and services based on the Company's CDMA digital technology. Headquartered in
San Diego, Calif., QUALCOMM is included in the S&P 500 Index and is a 2003
FORTUNE 500(R) company traded on The NASDAQ Stock Market(R) under the ticker
symbol QCOM.
Except for the historical information contained herein, this news release
contains forward-looking statements that are subject to risks and
uncertainties, including the Company's ability to successfully design, develop
the product discussed, the extent and speed to which such products are
accepted in the market, change in economic conditions of the various markets
the Company serves, as well as the other risks detailed from time to time in
the Company's SEC reports, including the report on Form 10-K for the year
ended September 28, 2003, and most recent Form 10-Q.
QUALCOMM is a registered trademark of QUALCOMM Incorporated. BREW is a
trademark of QUALCOMM Incorporated. CDMA2000 is a registered trademark of the
Telecommunications Industry Association (TIA USA). All other trademarks are
the property of their respective owners.
SAFE HARBOUR STATEMENT
This news release contains forward-looking statements that are, by their
nature, subject to significant risks and uncertainties that may cause the
actual performance, financial condition or results of operations of TOM Online,
QUALCOMM or IDG (collectively, the ''Companies'') to be materially different
from any future performance, financial condition or results of operations
implied by such forward-looking statements. Such forward-looking statements
include, without limitation, statements that are not historical fact relating
to the ability of the Companies to successfully design and develop the
products discussed, the extent to which such products may be accepted in the
market, the continued growth of the telecommunications industry in China, the
development of the regulatory environment, and the Companies' ability to
successfully execute their business strategies. Such forward-looking
statements reflect the current views of the Companies with respect to future
events and are not a guarantee of future performance. Actual results may
differ materially from information contained in the forward-looking statements
as a result of a number of factors, including, without limitation, any changes
in the regulatory policies of the Ministry of Information Industry and other
relevant government authorities, any changes in telecommunications and related
technology and applications based on such technology, and changes in political,
economic, legal and social conditions in China, including the Chinese
government's policies with respect to economic growth, foreign exchange,
foreign investment and entry by foreign companies into China's
telecommunications market.
For more information, please contact:
Ms. Jenny Hu, Senior Manager,
Corporate Communications of TOM Online
Tel: +86-10-6528-3399 x6765
Mobile: +86-139-1003-9141
Email: huying@bj.tom.com
Ms. Joanna Wu, Marketing & PR Manager,
Corporate Communications of TOM Online
Tel: +86-20-8732-4770
Mobile: +852-6199-3036
Email: wuqianhua@gz.tom.com
Mr. Wayne Fong, Senior Consultant,
Weber Shandwick
Tel: +852-2533-9914
Mobile: +852-9159-0006
Email: wfong@webershandwick.com
Marilynn Meek, Financial Relations Board,
Weber Shandwick in New York
Tel: +1-212-445-8451
Email: mmeek@financialrelationsboard.com
SOURCE TOM Online Inc.
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Related links:
http://www.qualcomm.com
CONTACT:
Ms. Jenny Hu of TOM Online, +86-10-6528-3399
x6765, or mobile, +86-139-1003-9141, or huying@bj.tom.com
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