UPDATE 1-DoCoMo, Baidu to provide smartphone content in China-Nikkei
July 8 (Reuters) - Japan's NTT DoCoMo Inc and Baidu Inc , China's largest search engine operator, have agreed to team up to distribute mobile content to Chinese users, the Nikkei business daily said.
The two companies plan to form a joint venture(JV) next month and the Japanese mobile carrier is expected to invest about 2 billion yen ($24.7 million), the daily reported.
Baidu will take an 80 percent stake in the JV, while DoCoMo will own the remainder, the paper said.
The two firms plan to develop and operate a site with search functions and will call on Japanese companies to supply content such as games, animation and comics for subscribers of Chinese mobile phone carriers, including China Mobile Ltd , Nikkei said.
DoCoMo has plans to form a content distribution system in Vietnam and market its services to telecom firms in other parts of Asia as well. It is also considering investment in local content providers, Nikkei reported. ($1 = 80.930 Japanese Yen)
(Reporting by Meenakshi Iyer in Bangalore; Editing by Viraj Nair)