China Mobile Phone Market Expected to Exceed 400 Million Users by Year End 2005

T-Bay Holdings says that according to recent reports, the market for mobile phone users in mainland China is expected to exceed 400 million by the end of 2005. As announced on September 9, 2005, T-Bay Holdings, Inc. acquired a 95% stake in Shanghai Sunplus Communication Technology, a telecommunication devices design company specializing in products such as cellular phones, MP3 players, PDA's and other hand-held electronic products. For the year ended March 31, 2005, Sunplus reported US$33.86 million in revenue with US$5.98 million in net income.

China is by far the world's largest market while major phone producers such as Nokia and Motorola have increased their investment in China during the first half of 2005. In the first half of 2005, Alcatel and Fujitsu announced participation in a joint venture to build mobile networks for 3G services in China. Sunplus has also launched its own 3G research and development program.

Xiaofeng Li, Chief Executive Officer of Sunplus commented on the recent reports, "Sunplus competes in the largest and fastest growing market in the world as measured by unit size. Our software, hardware and design expertise allows us to position our company with significant advantages over much of our competition. The introduction of 3G services in China coupled with the Chinese consumers' desire for the latest technology should continue to fuel the double digit market growth for the foreseeable future."

Posted to the site on 21st October 2005