BAIDU.COM SET UP JOINT VENTURE WITH NTT DOCOMO

AsiaInfo Services
07-06-2011
Baidu.com Set up Joint Venture with NTT DoCoMo

BEIJING, Jul 06, 2011 (SinoCast Daily Business Beat via COMTEX) -- Although Baidu.com Inc. (Baidu.com, NASDAQ: BIDU) suffered a loss of CNY 700 million during the three years it expanded the market in Japan, the company decided to further develop in the Japanese market. It is reported that Baidu.com established joint venture with the largest mobile operator in Japan, NTT DoCoMo, Inc. (DCM, NYSE: DCM) at the beginning of this year.

According to the agreement, DCM will subscribe the equity of the newly established joint venture with the total value of USD 22.50 million by two times. Baidu.com and DCM will finally hold an 80% equity and 20% equity of the joint venture respectively. The joint venture will mainly provide mobile added value services and multiple kinds of digital contents.

Japan has always been one of the most advanced and most mature wireless application markets in the world. This is not the first time that Baidu.com expands the Japanese wireless market. Early in September 2009, Baidu.com had announced to promote wireless search service facing Japanese customers.

Source: www.sina.com.cn (July 06, 2011)

KEYWORD: BEIJING INDUSTRY KEYWORD: Internet & Online Services & Media SUBJECT CODE: Internet & Online Services
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