BEIJING, July 28, 2014 /PRNewswire/ — VisionChina Media Inc. (“VisionChina Media” or the “Company”) (Nasdaq: VISN), one of China’s largest out-of-home digital television advertising networks on mass transportation systems, today announced it has formed a strategic partnership with Huawei Technology Co., Ltd. (“Huawei”), a leading global information and communications technology (ICT) solutions provider.
Under the terms of the new strategic partnership, VisionChina Media and Huawei will initiate joint research and development regarding domestic mass transit WIFI and potential overseas mass transit WIFI cooperation. The Company has also selected Huawei as its official supplier for customized and integrated WIFI technologies, including Huawei’s Agile Network Solutions, to support the planned network.
VisionChina Media’s national out-of-home advertising network on mass transportation systems covers more than 370 million urban commuters through both exclusive or outreach agency model, of which more than 50 percent, and growing, are mobile Internet users. The Company intends for its network to serve as the first mobile Internet entry point in China’s public transit system and anticipates providing free Internet connections using 3G/LTE technology along with value added services including news, video, location-based services, third party app store access, and more. The strategic partnership with Huawei comes after the Company’s recently announced partnership with China Unicom, as the Company moves forward in executing its national WIFI strategy to build one of the world’s largest national WIFI networks for public transit and provide greater Internet connectivity to millions of riders across the Company’s vast mass transit advertising network.
“We believe the establishment of a national WIFI network across China’s mass transportation systems will deliver unique value to urban commuters and national and multinational advertisers alike,” said Mr. Limin Li, VisionChina Media’s chairman and chief executive officer. “We aim to provide ubiquitous, high quality internet access that will make the daily commute for tens of millions of daily riders more enjoyable, while offering advertisers big data analytics and precision marketing opportunities that will help ensure ads reach their audiences more effectively.”
Mr. Li added, “We see Huawei as the perfect choice to partner with us in making our ambitious plans for a national WIFI network a reality. Cost-efficiency and superior network management were the key criteria in our decision to work with Huawei and we look forward to working closely with the company to fully leverage our collective competitive strengths in pursuit of this unique business opportunity.”
“We are impressed by VisionChina Media’s national footprint in terms of both out-of-home and digital media, as well as its extensive operational experience,” said Mr. Shaowei Liu, president of Enterprise Network Product Line of Huawei Enterprise Business Group. “We are also pleased to share the same vision with VisionChina Media regarding public transit WIFI and believe Huawei’s Agile Network Solution can help the Company to maintain its leading position in public transit WIFI technology.”
About VisionChina Media Inc.
VisionChina Media Inc. (Nasdaq: VISN) operates an out-of-home advertising network on mass transportation systems, including buses and subways. As of March 31, 2014, VisionChina Media’s advertising network included 109,484 digital television displays on mass transportation systems in 19 of China’s economically prosperous cities, including Beijing, Guangzhou and Shenzhen, as secured by exclusive agency agreements or joint venture contract. VisionChina Media has the ability to deliver real-time, location-specific broadcasting, including news, stock quotes, weather and traffic reports, and other entertainment programming. For more information, please visit http://www.visionchina.cn.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will”, “expects”, “anticipates”, “future”, “intends”, “plans”, “believes”, “estimates” and similar statements. Among other things, the quotations from management in this press release contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in the Company’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F and other filings. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
For investor and media inquiries, please contact:
Ms. Shuning Yi
Investor Relations Department
VisionChina Media Inc.
In the United States:
Mr. Justin Knapp
Ogilvy Financial, U.S.