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AutoNavi Launches New Enhanced Mobile Map Application, 'Amap', on Android Operating System
GlobeNewswire 2011-05-17
BEIJING, May 17, 2011 (GLOBE NEWSWIRE) -- AutoNavi Holdings Limited
("AutoNavi" or the "Company") (Nasdaq:AMAP), a leading provider of
digital map content and navigation and location-based solutions in
China, today announced the launch of a new version of its mobile map
application ("app") for the Android operating system. The product,
branded "Amap," is an enhanced version of AutoNavi's MiniMap app and
boasts location-based services that integrate the Company's extensive,
in-depth points-of-interest ("POI") database with complementary dynamic
content from other leading service providers. AutoNavi's mobile map
application currently stands at more than 15 million users, with over
1.5 million new users per month. The Amap app is being offered to
Android phone users free of charge.
Partnering with industry-leading service providers such as Ctrip.com,
China's leading travel service enterprise, Velo.com, a leading coupon
service platform in China, and Damai.cn, a leading online ticket
platform in China, the Amap app integrates up-to-date, dynamic
commercial information with POIs to offer users highly targeted
location-relevant information and content. This includes information on
hotel reservations, coupons, event ticketing, retail promotions, and
more. The Amap app is also integrated with several popular social
networking services ("SNS"), including micro-blogs hosted by Sina, Sohu
and NetEase, allowing app users to comment on and share in-depth POIs
and routing information through their micro-blog accounts.
Additionally, users can instantly obtain the latest and richest dynamic
merchant information without having to update the application.
AutoNavi's chief executive officer, Mr. Congwu Cheng, commented, "Our
new Amap app brings increased functionalities and broader service
offerings to our users. Providing an all-in-one shopping solution, the
new app allows users to search for location-based promotions offered by
businesses, receive routing and navigation information to those
destinations and then allows them to share that information with
friends and family over SNS. The app's innovative features and enhanced
capabilities will not only attract more end users but will also create
a higher level of stickiness within our existing user base."
Mr. Cheng continued, "Furthermore, the Amap app's ability to seamlessly
connect users with businesses and online communities will further
expand our B2C business and marks a strategic step in the development
of AutoNavi's location-based media platform. Going forward, we plan to
broaden the Amap app's reach on other mobile operating systems and
further establish partnerships with well-known service providers in
order to continue to deliver a comprehensive and unique location-based
user experience."
Together with the launch of the free Amap app, the Company has also
made its premium mobile navigation application for the Android
operating system. It is available for download at www.amap.com and
other third party websites including Taobao and app stores from
Samsung, Motorola and HTC. It is offered to users at a price of RMB 58.
The premium mobile navigation application provides additional features
such as advanced, voice-guided navigation, real-time traffic
information as well as the option to only download map data for
specified, desired cities, thus reducing the size of the app and
enhancing its operating performance. In addition, the Company's premium
mobile navigation application is also offered to users free of charge
for a one-month trial period, after which users can either purchase it
or discontinue their use of the app.
About AutoNavi Holdings Limited
AutoNavi Holdings Limited (Nasdaq:AMAP) is a leading provider of
digital map content and navigation and location-based solutions in
China. At the core of its business is a comprehensive nationwide
digital map database that covers approximately 3.1 million kilometers
of roadway and over 13 million points of interest across China. Through
its digital map database and proprietary technology platform, AutoNavi
provides comprehensive, integrated navigation and location-based
solutions optimized for the Chinese market and users, including
automotive navigation solutions, public sector and enterprise
applications, wireless location-based solutions and Internet
location-based solutions. For more information on AutoNavi, please
visit http://www.autonavi.com.
The AutoNavi Holdings Limited logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=8262
Forward Looking Statements
This press release contains forward-looking statements made under the
"safe harbor" provisions of Section 21E of the Securities Exchange Act
of 1934, as amended. These forward-looking statements can be identified
by terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates," "confident" and similar
statements. Among other things, the Business Outlook section and
quotations from management in this press release, as well as AutoNavi's
strategic and operational plans, contain forward-looking statements.
AutoNavi may also make written or oral forward-looking statements in
its reports filed with or furnished to the U.S. Securities and Exchange
Commission, in its annual report to shareholders, in press releases and
other written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including statements about AutoNavi's beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not limited
to the following: AutoNavi's ability to adequately maintain and update
its digital map database and minimize errors in its solutions; its
current reliance on the automotive navigation market and a small number
of customers for a substantial portion of its revenues; the
project-based nature of its public sector and enterprise applications
business; its limited operating history in the wireless/Internet
location-based solutions markets; compliance with a complex set of
laws, rules and regulations governing its surveying and mapping and
other businesses in China; competition in the navigation and
location-based solutions businesses in China; and its ability to manage
its growth effectively and efficiently. Further information regarding
these and other risks is included in AutoNavi's registration statement
on Form F-1 filed with the Securities and Exchange Commission. All
information provided in this press release is current as of the date of
the press release, and AutoNavi undertakes no duty to update such
information, except as required under applicable law.
CONTACT: For investor and media inquiries please contact:
In China:
Serena Shi
AutoNavi Holdings Limited
Tel: +86-10-5985-9538
E-mail: serena.shi@autonavi.com
Derek Mitchell
Ogilvy Financial, Beijing
Tel: +86-10-8520-6284
E-mail: Amap@ogilvy.com
In the U.S.:
Jessica Barist Cohen
Ogilvy Financial, New York
Tel: +1-646-460-9989
E-mail: Amap@ogilvy.com
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