Sky-mobi Limited to Provide Content and Service Cooperation to China Mobile Group's Mobile Gaming Platform

Thu Mar 1, 2012 8:01am EST

* Reuters is not responsible for the content in this press release.

HANGZHOU, China, March 1, 2012 (GLOBE NEWSWIRE) -- Sky-mobi Limited ("Sky-mobi" or the "Company") (Nasdaq:MOBI), a leading mobile application store and mobile social network community operator in China, today announced that its subsidiary, Hangzhou Mijia Technologies Co., Ltd., has entered into a partnership agreement with China Mobile Group Jiangsu Company Limited ("Jiangsu Mobile"), a wholly-owned subsidiary of China Mobile Group, to provide content and operational cooperation for China Mobile's gaming platform nationwide.

Under the terms of the one-year agreement, Sky-mobi will provide cooperative content, including single user games and applications, online multi-player games and other content, on China Mobile Group's gaming platform along with customer service and operation cooperation for the games and content for feature phones. Jiangsu Mobile is responsible for development and maintenance of the gaming platform, new game screening, launches and related gaming channel operations, including collections. Jiangsu Mobile will share revenue with Sky-mobi based on paid downloads and usage. Over the course of the agreement both parties will work together on marketing, promotions and user development.

Mr. Michael Song, Chairman and Chief Executive Officer of Sky-mobi, stated, "We are pleased to partner with China Mobile to provide content and operational cooperation for its mobile gaming platform. China Mobile Group is the leading mobile service provider in China and our cooperation will further enhance our industry presence and increase confidence amongst our subscribers. Through this arrangement, high quality games will be available to 80% of our Maopao users throughout China. We expect this partnership will provide both parties with operational and financial benefits going forward."

About Sky-mobi Limited

Sky-mobi Limited operates the leading mobile application store in China as measured by revenues in 2010, according to Analysys International. The company works with handset companies to pre-install its Maopao mobile application store on handsets and with content providers to provide users with applications and content titles. Users of its Maopao store can browse, download, and enjoy a range of applications and content, such as single-player games, mobile music, and books. The Company's Maopao store enables mobile applications and content to be downloaded and run on various mobile handsets with different hardware and operating system configurations. The company also operates a mobile social network community in China, the Maopao Community, where it offers mobile social games, as well as applications and content with social network functions to its registered members. The Company is based in Hangzhou, the People's Republic of China. For more information, please visit: www.sky-mobi.com.

The Sky-mobi Limited logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8458

About China Mobile Group

As the leading mobile services provider in China, China Mobile Group boasts the world's largest mobile network and the world's largest mobile customer base. As of 31 December 2010, the Group had a total staff of 164,336 and a customer base of 584 million, and enjoyed a market share of approximately 69.3% in Mainland China. The Group's GSM global roaming services covered 237 countries and regions and its GPRS roaming services covered 186 countries and regions. The Company owns 100% interest in operating subsidiaries in 31 provinces in Mainland China and in Hong Kong.  

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as ''believes,'' ''expects,'' ''anticipates,'' ''intends,'' ''estimates,'' the negative of these terms, or other comparable terminology. Such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Potential risks and uncertainties include the effectiveness, profitability, and marketability of the Company's solutions; the Company's limited operating history; measures introduced by the PRC government and mobile network operators aimed at the telecommunications industry and mobile applications-related services; the Company's ability to maintain cooperation relationships with handset companies, content providers and payment service providers; its dependence on mobile service providers, and ultimately mobile network operators, for the collection of a substantial majority of its revenues; billing and transmission failures, which are often beyond the Company's control; its ability to compete effectively; its ability to capture opportunities in the expected growth of the smart phone market; its ability to obtain and maintain all applicable permits and approvals; general economic and business conditions; the volatility of the Company's operating results and financial condition; the Company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements are based on current expectations, assumptions, estimates and projections about the Company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law.

CONTACT: Sky-mobi Limited
         Mr. Carl Yeung, CFO
         Phone: +(86) 571-87770978 (Hangzhou)
         Email: ir@sky-mobi.com
         
         CCG Investor Relations
         Elaine Ketchmere, Partner and VP
         Phone: +(1) 310-954-1345 (Los Angeles)
         Email: elaine.ketchmere@ccgir.com
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