FingerMotion (NASDAQ: FNGR), a mobile data and services company, has launched a line of new mobile device protection products in China; the products are provided by FingerMotion’s subsidiary, Shanghai TengLian Jiujiu Information and Communication Technology Co. Ltd. (TengLian). The company noted that the distribution of these protection products has already begun, with the first phase of rollout happening in Hunan Province, which has a mobile subscriber base of 90 million; the company is planning phased rollouts in the months that will ultimately reach 1.2 billion subscribers. The products are available as embedded, value-added features on devices offered through Chinese carriers. FingerMotion is redefining the mobile protection sector in Chine by providing next-generation innovative products that protect vital components and device trade-in programs. The products are bundled with the subscription plans and offer at least three levels of protection, including accidental damage for screens, mechanical breakdown and trade-in solutions. TengLian is a digital technology service company that provides long-term e-commerce portal service management to the mobile operators in China. “This latest cooperation agreement with one of the world’s leading mobile device protection companies demonstrates our ability to facilitate innovation by leveraging globally successful business models and customizing them for the unique needs of the Chinese market,” said FingerMotion CEO Martin Shen in the press release. “The telcos are estimating robust demand for new smartphones as customers transition to 5G. It is expected that the device protection programs will be transformative to the company in terms of revenues and profitability, possibly eclipsing the success of our existing core business segments. We should also reiterate that, in the current political landscape, the device protection insurance business which relies on new mobile phone sales, is not a subject of Chinese regulatory scrutiny.”
To view the full press release, visit https://ibn.fm/RccQI
About FingerMotion Inc.
FingerMotion is an evolving technology company with a core competency in mobile payment and recharge platform solutions in China. It is one of only a few companies in China with access to wholesale rechargeable minutes from China’s largest mobile phone providers to service their consumers. As the user base of its primary business continues to grow, the company is developing additional value-added technologies to market to its users. The vision of the company is to rapidly grow the user base through organic means and have this growth develop into an ecosystem of users with high engagement rates utilizing its innovative applications. Developing a highly engaged ecosystem of users would strategically position the company to onboard larger customer bases. FingerMotion eventually hopes to serve more than 1 billion users in the China market and eventually expand the model to other regional markets. For more information about the company, please visit www.FingerMotion.com.
NOTE TO INVESTORS: The latest news and updates relating to FNGR are available in the company’s newsroom at https://ibn.fm/FNGR
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