FingerMotion (NASDAQ: FNGR), a mobile data and services company, today announced a strategic cooperation agreement between China Mobile and Shanghai TengLian JiuJiu Information Communication Technology Co. Ltd. to create a device protection insurance product for mobile phones and the new 5G phones. The agreement follows the Jan. 26, 2022, rollout of the China Unicom device protection product. Upon launch of the new service by China Mobile, more than 1 billion users will be allowed to redeem their loyalty points to upgrade their phones and package plans to 5G. “This newest cooperation agreement gives us incredible control of the market and the ability to set the narrative with respect to device insurance protection,” said Martin Shen, CEO of FingerMotion. “One of the other things that we are finding out is that the Top Up business is extremely resilient to any recessionary pressures. The recurring revenue streams that we have created are very predictable and stable thereby creating a solid foundation on which to expand. The company also has a tailwind with respect to the implementation of 5G. A massive 5G replacement cycle has begun that we expect will push service revenues and hardware sales.”
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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 that can be resold to 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 over 1 billion users in the China market and eventually expand the model to other regional markets. For more information, visit the company’s website at www.FingerMotion.com.
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