China Telecom Online Marketplace Lures Internet Firms

Since its inception one month ago, China Telecom Corporation Ltd. (NYSE: CHA and SEHK: 0728)'s online marketplace for 3G applications, ctmarket.cn, so far has lured a number of companies, including Google Inc. (Nasdaq: GOOG), Baidu Inc. (Nasdaq: BIDU), 360.cn, 3g.cn, UCWEB, iMobile, as well as PCStars.

360.cn supplies two kinds of products; 3g.cn supplies four kinds of products; and Baidu offers one kind of product. Products offered by 3g.cn are priced at about CNY 8 each while most products supplied by other companies are free.

China Telecom will continue seeking core partners for its online marketplace. Possible partners are required to have high research and development ability and own no less than five kinds of mature application products.

The telecom operator also unveiled details of profit sharing with partners. Being launched in September 2009, the online application shop was jointly established by China Telecom Sichuan branch and Huawei Technologies Co., Ltd.

Source: www.hexun.com (October 13, 2009)

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