China Telecom, Netease Launch Mobile Chat App

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　　China Telecom has formed a joint¹ venture with Chinese internet firm NetEase to launch a new mobile chat tool.

 

　　The new app, called Yixin, is expected to try to challenge Tencent's popular WeChat application.

 

　　Different from Wechat, Yixin users can send free text and voice messages to any mobile phone users, regardless if they have the Yixin app or not.

 

　　China Telecom has 73 percent of the joint venture, while NetEase has the remaining stake.

 

　　Called Zhejiang Yixin Technology, the joint venture has registered capital of 200-million yuan.

 

　　Zhejiang Yixin is hoping to have more than 100 million registered users within six months.

 

　　WeChat currently has 236 million monthly active users.

 

　　For more on the move, we're joined live on the line with Doug Young, associate professor at Fudan University and former China company news chief at Reuters.

 

　　Questions:

 

　　How much of a chance will this new Yixin product have up against WeChat, which already has a strongly-established market base here in China?

 

　　Is there room right now in the mobile application market for more of these types of programs?

 

　　How much of this move might be China Telecom trying to undercut Tencent?

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