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 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 .
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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: email@example.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