Summary:

Tom Online, the Chinese internet portal controlled by tycoon Li Ka-shing, said on Tuesday it would not suffer as much as rivals from slowing…

Tom Online, the Chinese internet portal controlled by tycoon Li Ka-shing, said on Tuesday it would not suffer as much as rivals from slowing growth in a saturated mobile phone messaging market.

Wang Leilei, CEO, said the company would make a big push next year into Java games which, together with strong interactive voice services, would be the future major growth drivers.

Wang said while SMS would continue to be the major source of revenue for Tom in the short term, its percentage of the company’s revenue would continue to decline. SMS accounted for 52 per cent of the group’s wireless sales, compared with 62 per cent in the first quarter of 2004 and 89 per cent last year.

Related: Tom Online’s Q2 results: Its revenues in the past quarter rose 19 per cent over the first three months of this year to $30.88 million, while net profits set another record to $10.06 million.

By Rafat Ali

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