KongZhong, which delivers content via mobile handsets in China, made its debut in the U.S. stock market on Friday. In its initial trading, the stock changed hands at $10, equal to its offering price, which was the low end of its estimated pricing range.
Unlike other providers of services via mobile phones, which rely mainly on SMS and other text-based services, KongZhong’s service is based on a 2.5G.
In this way, KongZhong can deliver the more advanced content, like games, electronic books, domestic and international news, sports, among other services.
While the platform is more robust, it’s unclear just how quickly Chinese consumers will pay up for such rich-media services, not to mention the more expensive phones that can handle such services.