Mobile internet has huge market potential

According to the 26th Statistical Report on China Internet Development State, the population of mobile phone internet users was 277 million by June. The figure is 22% higher than 2009, surpassing the rise in the number of traditional internet users. Li Kaifu, board chairman of Innovation Works, said the population of mobile internet users will double in the next five years, possibly reaching 800 million.
According to statistics from iResearch Consulting Group, revenue obtained in the mobile phone internet sector reached RMB10.4 billion (US$1.6 billion) in 2009, with a growth of 66%. One estimate is that revenue will reach RMB41.3 billion (US$6.2 billion) by 2012.
Innovation Works, set up by Li, is now investing in one mobile software producer and 11 other companies. Lenovo Group has succeeded in repurchasing its mobile business, and CE.cn reports that Lenovo’s mobile business is moving into the mobile internet market in a big way.