Tencent plans mobile service expansion

Tencent Holdings says it will further expand into the wireless service sector in 2012.

In its 2011 annual report, released on March 14, the leading internet firm said it would strengthen its presence in areas like social communications, mobile entertainment, mobile browsers and mobile search, and further open its platforms to third-party applications.

Tencent owns QQ, China's largest instant message service. Its business also includes an internet portal, online games and e-commerce.

Revenues from mobile and telecom value-added services, such as text message packages, mobile games and mobile books, totaled 3.3 billion yuan last year, up 20.4 percent from a year earlier, the report said.

Mobile internet use is gaining increasing popularity in China thanks to the growing use of smart phones and the availability of more mobile applications, Tencent said.

Tencent had 373 million microblog users by the end of last year, overtaking its major rival, Sina Corp, to become China's largest weibo, or Twitter-like microblog, provider.

The annual report shows company revenue totaled 28.5 billion yuan in 2011, up 45 percent, with net profit growing 26.7 percent to 10.2 billion yuan.