Mobile device

FingerMotion Launches Mobile Device Protection Product in China

FingerMotion, Inc.

NEW YORK, NY, July 15 10, 2022 (GLOBE NEWSWIRE) — FingerMotion, Inc. (Nasdaq: FNGR), a mobile data and services company, is pleased to announce the launch of mobile device protection products by FingerMotion subsidiary Shanghai TengLian Jiujiu Information and Communication Technology Co. Ltd (“TengLian”). Distribution of these mobile device protection products began via Chinese carriers as integrated value-added features to their device, voice and data plans. The first province in China to launch is Henan with a mobile subscriber base of 90 million people1 with phased deployments planned for the remaining provinces in the coming months targeting 1.2 billion subscribers.2 Based on a total size of the global mobile protection products market of $53 billion per year by 20283and considering that China has a fifth of the world’s mobile subscribers4the total market for mobile protection products in China is about 10.6 billion dollars per year.

Until now, the most popular mobile device protection product in the Chinese market has been limited to broken screen protection, which offers the consumer a monetary claim in the event of damage. With the advent of 5G in China, FingerMotion is redefining the market with its suite of innovative next-generation product offerings for mobile operators that enable better protection of vital components and device take-back programs. Products come with subscription plans and offer at least three levels of protection, which can include accidental damage to screens, mechanical failures, and trade-in solutions. These device protection products are available to existing and new subscribers.

FingerMotion and its subsidiaries have many years of expertise in servicing complex workflows within the Chinese telecommunications industry and have successfully launched new products into their ecosystem while maintaining superior levels of customer service. FingerMotion has leveraged its highly differentiated market experience to partner with the global expertise of a Fortune 500 insurance company, listed on the NYSE for 125 years. Since customer experience is especially important in the hyper-competitive and highly regulated Chinese market, this exclusive partnership is valuable as it aligns FingerMotion with a highly reputable and experienced underwriter in mobile protection products to satisfy subscriber complaints of devices.

“This latest cooperation agreement with one of the world’s leading mobile device protection companies demonstrates our ability to facilitate innovation by leveraging globally successful business models and customizing them for the unique needs of the Chinese market. said Martin Shen, CEO of FingerMotion, Inc. “Telecom carriers believe demand for new smartphones is robust as customers move to 5G. Device protection programs are expected to transform the company in terms of revenue and profitability, perhaps overshadowing the success of our existing core business segments. We must also reiterate that in the current political landscape, the device protection insurance business, which relies on sales of new mobile phones, is not subject to Chinese regulatory scrutiny.

About TengLian, a subsidiary of Finger Motion

TengLian is a digital technology service company that provides long-term management of e-commerce portal services to mobile operators in China. TengLian is authorized to optimize product and service offerings in portals, which means it has the ability to effectively integrate products and services in the portal and referrals outside the portal. TengLian also has a customer support function, so users can solve their problems quickly and efficiently.

About FingerMotion, Inc.

FingerMotion is an evolving technology company with core competency in mobile payment and recharge platform solutions in China. It is one of the few companies in China that has access to wholesale rechargeable minutes from China’s largest mobile phone providers to serve their consumers. As the user base of its core business continues to grow, the Company is developing additional value-added technologies to market to its users. The company’s vision is to grow the user base rapidly through organic means and grow this growth into an ecosystem of users with high engagement rates using its innovative applications. Developing an ecosystem of highly engaged users would strategically position the company to integrate broader customer bases. FingerMotion hopes to eventually serve over a billion users in the Chinese market and eventually expand the model to other regional markets.

For more information email: [email protected]
718-269-3366

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1 https://english.henan.gov.cn/2022/06-30/2478704.html

2 https://www.gsma.com/mobileeconomy/china/

3 https://www.globenewswire.com/news-release/2022/07/12/2477817/0/en/Mobile-Phone-Insurance-Market-Report-2022-Surge-Of-Data-and-Virus-Protection- propels-growth.html

4 https://www.gsma.com/newsroom/press-release/number-mobile-subscribers-worldwide-hits-5-billion/