Microsoft launches MSN China
2005-05-11 20:07
Washington - Microsoft Corp.'s online services unit has formed a venture with Shanghai Alliance Investment Ltd. to launch MSN China later this year.
In a press release on Wednesday, Microsoft said the venture will provide MSN products and services to consumers throughout China.
The new company, Shanghai MSN Network Communications Technology Co., received a nationwide value-added license from China's Ministry of Information Industry.
Microsoft expects MSN China will create opportunities for advertisers to reach the growing audience of busy professionals in one of the world's largest Internet markets.
China Internet Network Information Center reported that 94 million Chinese were online in 2004.
Shanghai Alliance is a professional investment company funded by the Assets Supervision & Administration Commission of the Shanghai municipal government.
Software giant Microsoft also plans to acquire some TSSX assets, and signed an exclusive contract with the Chinese Internet services concern to deliver MSN Mobile worldwide.
MSN senior vice president David Cole said in a statement: "The MSN China joint venture is a significant step in our long-term strategy and commitment to delivering innovative online services that help consumers connect with the people and information they care most about.
"Combining TSSX's expertise with the innovative work of our developers in Redmond will strengthen Microsoft's ability to create and deliver cutting-edge mobile services in China and across the globe."
MSN attracts more than 400 million unique users worldwide each month. Microsoft operates localized versions of the online service in 40 markets worldwide.