Earlier, it had been reported that Malaysian mobile applications service provider (ASP) Nextnation Communication Berhad was looking for a JV in India, much like it’s operations in China, but it seems that the company has decided to enter the market on its own.
Nextnation has announced the incorporation of a wholly-owned subsidiary in India, Nextnation Mobitech India, via its subsidiary Code Wireless. Mobitech India has been incorporated with an authorized share capital of Rs.5 lakhs, and issued and paid-up share capital of Rs. 1 lakh: 10,000 shares of face value Rs. 10 each. The company intends to provide mobile messaging technologies, mobile application platforms and mobile application software for wireless communication. Nextnation is targeting a 70 percent contribution to revenue from its non-Malaysia operations by the end of this financial year, and the incorporation of Mobitech India is a part of its strategy to grow its revenue base. [via a release]
“During a gold rush it’s those selling the shovels that make the money,” the representative of another international content company (not Nextnation) looking at opportunities in India told me; that company is considering a change in strategy and will probably provide mobile applications services in India, until the content market is more favorable. The ASP market is sure going to heat up.
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