SOURCE: Amico Games Corp.

May 20, 2010 07:30 ET

Amico Games Corp. Highlights Growth of Chinese Telecom 3G Networks and Mobile Subscribers

GUANGZHOU, CHINA--(Marketwire - May 20, 2010) - Amico Games Corp. (OTCBB: AMCG), an information technology company specializing in developing and operating mobile phone multiplayer networked games, provides an update on the growing Chinese mobile network industry.

According to Reuters, China spent more than $880 million (6 billion yuan) expanding its 3G telecom network in the first quarter of 2010, the government said on Thursday, with just under a third of the money going to its home-grown TD-SCDMA standard.

The TD-SCDMA service had more than 4.8 million new subscribers in January-March this year, a Ministry of Information and Industry Technology spokesman said at a news conference, bringing the total number of 3G users in China to over 18 million.

China's three telecom operators spent about $21 billion building their 3G networks in 2009. On April 16th China Telecom announced its intention to invest 11.7 billion yuan toward expansion and optimization of its 3G CDMA2000 network and its hope to have 100 million subscribers by the end of 2010.

Mobile subscribers in China increased by 18.6 million in the first two months of 2010, pushing the national total to 765.97 million, according to statistics released by the Ministry of Industry and Information Technology (MIIT) on April 1.

The Chinese telecom industry generated total revenues of $20.6 billion (RMB 140.6 billion) during the two-month period, up 6 percent year-on-year.

Peter Liu, President of the Company, states, "We are very excited about the increasing numbers of people subscribing to the expanding mobile networks and it is our Company's goal to capitalize on this growth. We have very large target market and as long as the Chinese mobile market continues to grow it bodes well for Amico's access to more mobile game users."

About Amico Games Corp.

Amico Games Corp. is a software company specializing in developing mobile phone games for the Chinese market. On December 31, 2009, Amico acquired Galaxy Software Limited is a Chinese private-owned company incorporated in November, 2001. Galaxy is one of the earliest mobile phone multiplayer game developers in China, as well as one of the first Chinese companies to develop and operate Java™ MMRPOG (massive multiplayer role playing online games) mobile phone games. It is also the first company to provide multiplayer games over the WAP platform of China Mobile, the world's largest mobile phone provider based upon subscribers.

Further information on the Company can be found at www.sec.gov and at the company's website at www.amicogames.com

Safe Harbor Statement

Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to Amico or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of Amico's products, the competitive environment within the industry, the ability of Amico to continue to expand its operations, the level of costs incurred in connection with Amico's expansion efforts, economic conditions in the industry and the financial strength of Amico's customers and suppliers. Amico does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.

Contact Information

  • Contact
    Amico Games Corp.
    Investor Relations Office
    Tel: 1-877-331-8777
    Email: info@amicogames.com

    201 Spear Street, Suite 1100
    San Francisco, CA 94105
    USA