The partnership is through Sky-mobi subsidiary Mopin Technology, which entered a partnership with the Wo Store of China Unicom, the telecom's official app store. As part of the agreement Sky-mobi will provide customized software services for China Unicom's physical stores.
The partnership covers physical China Unicom stores in Zhejiang, Guangxi, and Shandong provinces at first. The partnership will expand throughout 2014 to include Hubei, Heilongjiang, Hunan, Shanghai, and Guangdong.
"We have been arduously working on this project since 2010 when we found through customer feedback that customers visiting the operator's physical stores expected more than just assistance with choosing and purchasing a new phone," Sky-mobi chairman and CEO Muichael Tao Song said in a press release.
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TheStreet Ratings team rates SKY-MOBI LTD -ADR as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate SKY-MOBI LTD -ADR (MOBI) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance, compelling growth in net income and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we find that the company's profit margins have been poor overall."