Its not that bad14 Jan 2011 18:39
Interim
Post period highlights
Ÿ Launch of online operation in China
Ÿ Galleon China becomes one of ten official providers of international games and content for next generation handsets to China Mobile, the world's largest network operator with over 500 million subscribers.
Ÿ Super Fashion Star brand signed exclusive online partnership with QQ, China's largest online portal for news, communities, entertainment and basic web services with over 568 million user accounts
Ÿ Galleon China have secured the mobile distribution rights to the world's largest reality TV series,
Ÿ First sale for Sokator-442 to Nickelodeon Australia,
Ÿ Super Soccer Star format rights sold to Brazil
Ÿ Croco business growing again with a major new client in confectionary company Ferrero and business growth from Pepsico with new and current regional clients placing orders
Commenting on the results, David Wong, Chairman of Galleon Holdings, said:
"Although we have experienced a turbulent first half, following the changes in the mobile market place in China, we have made significant investments during the period to enable the business to prosper going forward.
"We have reacted swiftly to the market changes and are confident that the Company is well positioned to capitalise on the large market opportunity available to them. The management believes that the long term benefits of these changes and the investment made this year will far outweigh the short term cost."