Linktone has released its results for the first quarter of 2005, showing a decline in revenue over the last quarter of 2004 but an improvement over the revenue for the same period last year. “Linktone’s first-quarter sales of 2.5G and audio-related services were $5.3 million, or 35% of gross revenues, compared with $6.4 million, or 41%, for the fourth quarter of 2004. 2.5G services — including multimedia messaging services (MMS), wireless application protocol (WAP) services, and Java games — accounted for 14% of first-quarter gross revenues, compared with 29% for the fourth quarter of 2004. The company attributed the sequential decline to the impact of two principal factors: 1) changes in China Mobile’s MMS revenue recognition policy for 2005, which now requires MMS delivery to an active mobile phone for
live receipt by the user, rather than to a mail box for later retrieval; and 2) China Mobile’s imposition of sanctions and penalties on Linktone’s WAP services and withholding of WAP revenue from January 1 to June 30, 2005.”
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