News and Announcements
Crowd Mobile Expands Presence in Asia
- Published January 12, 2016 11:09AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
12th January 2016, ASX Announcement
Crowd Mobile Limited (ASX: CM8 & FWB-XETRA: CM3) (Crowd Mobile or the Company) is pleased to announce it has executed agreements to launch into Asian countries India, Philippines, Thailand and Indonesia, as the Company continues its global expansion strategy.
Commenting on the Asia launch, Crowd Mobile CEO Mr Domenic Carosa said:
“Our expansion in Asia marks a new phase of growth for Crowd Mobile. The region represents a really exciting growth opportunity with the emergence of smartphone usage. Mobile phone penetration in Asia is at around 40% currently and by 2019 is expected to be at around 52%. It is projected that there were approximately 2.5 billion mobile phone users in the region in 2015.
“We expect Crowd Mobile to have a strong disruptive effect in Asia. Our m-payments system is particularly suited to this market as a lot of Asia simply does not have credit cards. Currently, around 60% of internet users in the region are aged between 15 and 34 years which is a great fir for our innovative products. We are continuing to build our m-payments network, launching new and innovative products, and building a larger and more engaged customer base”, Mr Carosa.
To read the full announcement, please click here.