Launched in September 2009, the AppMarket is the online marketplace for more than 400 mobile phone and PC software applications, including for entertainment, media, business, travel, and education. China Telecom had 43.8 million mobile subscribers, at the end of August 2009.
For more information about the AppMarket, please visit: http://www.ctmarket.cn/appstore/index.php .
Palmcity Live-Traffic is the first real-time traffic information mobile phone application to be added to the AppMarket. Currently, all software available at the AppMarket is free, since the site is in its beta testing phase. After its official commercial launch, the AppMarket will charge consumers for each application download and distribute a percentage of the revenue to China TransInfo.
"We are very excited that Palmcity Live-Traffic was added to China Telecom's AppMarket," commented Mr. Shudong Xia, Chief Executive Officer of China TransInfo. "Our relationship with China Telecom not only demonstrates that our software technology leads the industry but also that we are close to monetizing our real-time traffic application. In addition, we are actively discussing similar arrangements with other wireless carriers to extend the reach of Palmcity Live-Traffic."
About China TransInfo
China TransInfo, through China TransInfo Group and its operating subsidiaries, is primarily focused on providing transportation information services. The Company aims to become the largest transportation information product and comprehensive solutions provider, as well as the largest integrated transportation information platform and commuter traffic media platform builder and operator in China. China TransInfo is involved in developing multiple applications in transportation, digital city, land and resource filling system based on GIS technologies which is used to service the public sector. In addition, the Company is developing its transportation system to include ETC technology. As the co-formulator to several transportation technology national standards, the Company has software copyrights for to 92 software products and has won 5 of 10 model cases sponsored by PRC Ministry of Communications. The Company's affiliation with Peking University provides access to the University's GeoGIS Research Laboratory, including 30 Ph.D. researchers. As a result, the Company is currently playing a key role in setting the standards for electronic transportation information solutions. For more information please visit the company website at http://www.chinatransinfo.com .
Safe Harbor Statement
This press release contains certain statements that may include "forward looking statements". All statements other than statements of historical fact included herein are "forward-looking statements". These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website ( http://www.sec.gov ). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
For more information, please contact: Company Contact: Ms. Fan Zhou, Investor Relations Director China TransInfo Technology Corp Tel +86-10-8267-1299 x8033 Email: firstname.lastname@example.org Investor Relations Contact: CCG Investor Relations Mr. Crocker Coulson, President Email: email@example.com Tel: +1-646-213-1915 (NY office) Shaun Smolarz, Financial Writer Email: firstname.lastname@example.org Tel: +1-646-701-7444 Web: http://www.ccgirasia.com
SOURCE China TransInfo Technology Corp.