Linktone Ltd. (OTC: LTONY) (ASX: LTL) said it is repositioning its strategic focus and refining its business vision by concentrating on high growth businesses in China and elsewhere, and transitioning away from telecommunication value-added services in China.
With regard to this initiative, Hary Tanosoedibjo, chairman and CEO of Linktone, said, “Our announcement today reflects the next phase of our business´ evolution resulting from our detailed analysis of our core competencies and review of our extensive product portfolio.”
Linktone said it foresees the transition out of China to occur over a period of time for the company to fulfill and complete existing commercial obligations and arrangements. The company expects the revenue contribution from value-added services to decline significantly while the revenue contribution from the remaining businesses to grow in 2014.
Linktone is a provider of rich and engaging services and content to a wide range of traditional and new media consumers and enterprises in Mainland China, Indonesia, Malaysia, Hong Kong and Singapore. Linktone focuses on media, entertainment, communication and edutainment products, which are promoted through the group´s various nationwide distribution networks, integrated service platforms and multiple marketing sales channels, as well as through the networks of leading mobile operators in Mainland China and Indonesia.