Datasea Establishes Joint Venture Company to Further Penetrate the Estimated Approximately 527.8 billion US Dollars 5G Market in China
New Entity to be Focused on Increasing Scale of Datasea's 5G Services Utilizing Artificial Intelligence, which is Expected to Drive Significant Revenue in 2024
Datasea's CEO Zhixin Liu commented, "We are pleased to have established this joint venture company with Shenzhen Yiyun Technology Co., Ltd., as it will combine the operating resources of our two companies in the field of 5G multimodal communication to enhance our core competitive advantages in the market and effectively provide 5G multimodal communication services to both enterprises and individual customers. We believe that the new joint venture will bring more efficient and intelligent AI based 5G multimodal communications solutions to customers across a wide spectrum of applications. The joint venture is a vital part of our strategic growth plan that we believe will create new sources of revenue while further diversifying our customer base."
DataSea Digital, the new joint venture company, will serve as the core business carrier of Datasea's AI based 5G multimodal communication services. Datasea's 5G multimodal communication represent a technological breakthrough based on the Company's original 5G messaging service. Leveraging the world's largest 5G network, computational power network, and middleware capabilities, the Company achieves multimodal data transmission through technological iterations and upgrades. A key attribute of the technology entails cross-modal information integration and data transmission and processing, which is carried out with images, videos, and text created by AI. This enriches transmission content, and makes user operation extremely convenient, lowers the requirements for users, and improves the quality of the customer experience and data information interaction.
The Company believes that the channel advantages and operational management strengths of both parties confer sustainable competitive advantages to the joint venture, its technological capabilities, the marketing and acquisition of new customers, and the pricing of products and services in
Datasea's Technological Capabilities
As one of the leading service providers in
Datasea's AI based 5G multimodal communication products exhibit high adhesion and high activity, and integrate technologies such as AI-driven interactions, multimedia, and multilingual processing modules, to provide efficient and convenient services with immersive experiences. This can bring brand enhancement, customer acquisition, market promotion and additional revenue to a wide range of enterprise customers. Datasea's 5G multimodal communication intelligent product solutions provide 5G digital and intelligent services and various value-added services for more than 48 million enterprises and individual users throughout
Industry Data
According to the 'China Mobile Economic Development 2023' annual report released by GSMA, the number of 5G mobile phone users in
About Shenzhen Yiyun Technology Co., Ltd.
Shenzhen Yiyun Technology Co., Ltd. ("Yiyun Technology") is a privately held, leading digital technology marketing and promotion and 5G operations company that has ongoing collaborations in the telecom, energy, transportation and financial sectors, and has service experience in 5G related fields. Yiyun Technology's core business focuses on the marketing, promotion and operation of a 5G+ business, and the provision of customer agency services for various 5G value-added services, entertainment digital product services, public utility payment channels, and other related service channels. It functions as a long-term supply chain enterprise for Chinese telecom operators and energy operators, and is an authorized operator for
About Datasea Inc.
Datasea Inc. ("Datasea") is a leading provider of products, services, and solutions for enterprise and retail customers in innovative industries, Intelligent Acoustics and 5G multimodal communication, especially focusing on ultrasonic, infrasound and directional sound technology. The Company's advanced R&D technology serves as the core infrastructure and backbone for its products. Its 5G multimodal communication segment operates on a cloud platform based on AI. Datasea leverages cutting-edge technologies in intelligent acoustics, utilizing ultrasonic sterilization to combat viruses and prevent human infections, and is also developing innovations in directional sound and medical ultrasonic cosmetology. In July 2023, Datasea established a wholly-owned subsidiary, Datasea Acoustics LLC, in
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and as defined in the
Investor and Media Contact:
Datasea Investor Relations
Email: investorrelations@shuhaixinxi.com
sunhezhi@shuhaixinxi.com
Precept Investor Relations LLC
David Rudnick
+1 646-694-8538
david.rudnick@preceptir.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/datasea-establishes-joint-venture-company-to-further-penetrate-the-estimated-approximately-527-8-billion-us-dollars-5g-market-in-china-302066071.html
SOURCE Datasea Inc.