Quick financial update today on China’s mobile Internet.
The follow are some of the numbers coming out of iResearch. The Chinese mobile Internet market during 2011 reached 39.31 billion RMB. This created a year to year growth rate of 97.5%. This growth was supported mainly by the mobile value-added market and the rapidly growing mobile E-Commerce. We expect mobile E-commerce to fully surpass mobile value-added sometime during 2012. Mobile advertising, which saw a 101.7% growth in 2011 to 2.42 billion RMB, is another segment that will continue its track record during 2012 as adverstising on mobile is finally being wholeheartedly supported by advertisers..
With 338 million mobile Internet users in China during 2011, we should see the mobile Internet market continue its rocket ship climb this year as well – as long as Europe gets its act together. If they don’t, we’ll still see very solid growth.
Smart phones being offered to the public for 2000 RMB or less is the big reason behind this. Big thanks to Lei Jun and crew at Xiaomi (though, they are definitely not the only ones) for pushing that smartphones in the Chinese market made available to the public at cheaper prices while still offering solid performance.