Why Sky-Mobi (MOBI) Stock Is Rising Today

NEW YORK (TheStreet) -- Shares of Sky-mobi Ltd (MOBI) are higher by 4% to $8.59 in mid-morning trading on Tuesday, after the company announced it has entered into a strategic partnership with China Telecom (CHA) .

Sky-mobi, a mobile application platform in China, through its controlling subsidiary Mopin Technology Co Ltd., will be partnering with China Telecom's mobile Internet services platform E Surfing, to provide customized software services at China Telecom's physical stores nationwide.

"Building upon our pre-existing strategic partnerships with China Mobile (CHL) and China Unicom (CHUFF) , the additional cooperation with China Telecom will allow Sky-mobi to expand its coverage with China's big three telecom giants' network of physical stores, strengthen its leadership position and accelerate market penetration amongst grassroots users in China," said Sky-mobi CEO Michael Tao Song.STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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