Cubic & LeTV partner on new data service
Cubic Telecom signs €1,000,000 deal with Chinese internet giant LeTV to roll out a new mobile phone data service.
‘LeMobile’ is powered by Cubic Telecom under a single data SIM card which is embedded into an LeTV smart phone. The product is targeted at LeTV customers travelling outside of mainland China who want to access media content and video streaming on their device.
More than 100 million people travelled out of China in 2014 and this trend is increasing year on year. Expectations of seamless connectivity is now common for people travelling internationally and ‘LeMobile’ allows people to travel to more destinations while having the same connectivity experience they get at home.
It is clear that a strong consumer demand exists for mobile data as LeTV sold over 200,000 of its new smart phones within minutes of its launch in May of this year. Cubic’s global communication data solution offers a transparency to the LeTV customer, avoiding the stress of hidden costs, high roaming fees, slow network connections and other limitations seen with other mobile plans.
Phase one of the project will go live in November 2015 and phase two is planned for 2016.
The deal was signed today during Enterprise Ireland’s trade mission to China led by Minister for Jobs, Enterprise and Innovation, Richard Bruton TD. Speaking from Beijing, Minister Bruton said: “It is very encouraging to see innovative Irish companies like Cubic Telecom successfully securing business in China which is a key target market as part of our Action Plan for Jobs. Today’s announcement makes clear once again the scale of the possibilities that exist for ambitious and innovative Irish companies in China. I congratulate Barry and his team on this partnership with LeTV and wish them continued success in the Chinese market”.
Commenting on the deal, CEO of Cubic Telecom, Barry Napier said “It is very exciting to partner with a progressive company like LeTV, our solution will provide connectivity to a large portion of their customer base who want to stay connected and enjoy a continuous quality data service when they travel.”
SVP of LeTV, Mr. Feng Xing highlighted his satisfaction at offering a competitive connectivity service to his customers as they travel globally. “Our smart phone has created a mobile internet eco-system with content that engages the user. By partnering with Cubic Telecom, people can still enjoy an excellent user experience no matter where they are in the world.”
Julie Sinnamon, CEO, Enterprise Ireland commented: “Enterprise Ireland has worked closely with Cubic Telecom to support its continued growth in international markets. Cubic Telecom is a role model for ambitious, highly innovative Irish companies to follow and Enterprise Ireland will continue to work with them as they grow further, creating sustainable jobs in Ireland”.
LeTV is one of the biggest video streaming services in China with 400 million monthly users. The 5,000-person company has a market capitalization of $12 billion on the Shenzhen Stock Exchange. LeTV’s core streaming business has built up a library of more than 100,000 TV series and 5,000 movies. It has also started making its own premium smart TV to stream its content.
Cubic Telecom is a global connectivity platform company that offers mobility solutions that power connectivity for leading Internet of things (IoT), machine-to-machine (M2M) and mobile device companies across the globe.
An expert in Connected Intelligence, Cubic Telecom enables global scalability with local connectivity anytime, anywhere. Cubic provides connectivity in over 100 countries; the most robust network, device and retail partnerships worldwide; and flexible over-the-air (OTA) device management for clients and partners.
Cubic creates connectivity where there was none before, with a belief in the future of things: a future where everything is connected. Cubic’s vision of interconnectivity will improve lives, and make the world a more interesting and intelligent place to be. Clients which also believe in this work include Audi, Panasonic, Volkswagen, Woolworths and Rakuten.
Based in Dublin Ireland, Cubic Telecom’s partners and customers include some of the world’s leading Fortune 100 tablet and notebook manufacturers, retailers, and M2M and automotive companies. The company is privately held with over €75 million in funding by Audi Electronics Venture GmbH, Qualcomm, Valid, Enterprise Ireland and the Ireland Strategic Investment Fund, among others.
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