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Vtion now offers 10,000 Total Online Applications

Vtion Anzhuo Online Development

 

Frankfurt, 10 April 2012

Vtion Anzhuo, a wholly-owned subsidiary of Vtion Wireless Technology AG, has reached 10,000 total mobile applications available through its three sales channels, China's telecom operators, device manufacturer partners and its own online appstore, named "V-Market". The online store had been operational since March 01, 2012.

The V-Market is Vtion Anzhuo's own online download platform and store for applications on the Android operating system. Currently, the store offers 8,000 applications for users to download, a number Vtion intends to increase over the course of the year. The remainder of the 10,000 applications that Vtion Anzhuo offers are sold through its other sales channels - China's telecom operators and device manufacturers. Currently the vast majority of applications are available for free download, though the company hopes to increase the number of paid downloads over the course of the year and begin realizing revenues from the V-Market.

Though there are several online application stores for the Android system operating in China, the V-Market differentiates itself through only using licensed applications, unique offerings and a secure online payment platform. The V-Market is one of three sales channels that Vtion Anzhuo uses to distribute its applications. Vtion Anzhuo also sells via a shop-in-shop model through each of the telecom operators' online app stores and has agreements with several device manufacturers to put the V-Market in their hardware. The V-Market can be viewed on the website www.51vapp.com, while the company website can be viewed under www.vapk.com.cn.

"The V-Market has successfully operated for a full month now," states Vtion CEO Guoping Chen. "We are excited to expand our business in the mobile applications space, a market we expect to show rapid growth over the next few years. Though we face a major challenge insofar as it has proven more difficult to monetize application offerings for the Android platform, we are addressing this issue proactively, such as looking at revenue sharing agreements and payments for usage of apps as opposed to payment for download. We believe that through our unique sales channels and superior quality, we are well-positioned to take advantage of this opportunity," he concludes.

 

About Vtion

The Vtion Group is one of the three leading suppliers of wireless data cards and associated services for the mobile use of computers via broadband wireless networks in the People's Republic of China. The company offers tablet PC products and support services through its mobile intelligent terminals business segment, including both to the consumer market and industry-specific clients. Through its wholly-owned subsidiary, Vtion Anzhuo, the company offers online applications for the Android operating system. For 2011, (preliminary figures) the company reached sales revenues of EUR 77 million with an EBIT margin of 10.3%. Vtion Wireless Technology AG shares are being traded in the Prime Standard on the Frankfurt Stock Exchange with the ISIN DE000CHEN993. The company's ticker symbol is V33.

 

For further information, please contact:

Kirchhoff Consult AG
Dr Kay Baden, tel.: +49 40 60 91 86 0, baden@kirchhoff.de

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