Same For Linktone & Others; Says Billing Rules Will Hurt

And another Chinese mobile content provider Linktone says the new China Mobile rules will hurt it as well. The Shanghai-based company’s ADR shares fell 58 cents, or 11.3 percent, to $4.56 in afternoon trading on the Nasdaq. Its stock had been trading between $4.89 and $11.57 in the past year.
Linktone said that the new rules will lead to fewer new subscribers, higher cancellation rates, but will ultimately create a healthier industry that serves customers better.
Other Chinese mobile entertainment companies also lost ground in Nasdaq’s Monday morning session. U.S.-listed shares of Tom Online, which delivers multimedia products on phones and on the Web, fell 40 cents, or 2.9 percent, to $13.27. Wireless media company KongZhong’s ADS shed 18 cents, or 2.7 percent, to $6.47, and U.S.-listed shares of Hurray Holding, which sells ringtones, fell 9 cents to $5.11.

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