Profits from wireless services company Tom Online dropped 59% in the third quarter, the <i>Wall Street Journal</i> reported. The drop to US$5.3 million in the three months ending in September 30 from US$12.9 million a year earlier was attributed to new policies from Chinese mobile phone operators and the government which impacted its core business. In July, China Mobile and China Unicom adopted policies that required service providers to give longer free trials and bill monthly instead of per download. Revenue fell 15% to US$38.9 million. Tom Online offers mobile phone downloads through a Web portal.
Categories