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BEIJING – Nevada-based Datasea Inc. (NASDAQ: DTSS), which specializes in intelligent acoustics and 5G communication technology, has partnered with Shenzhen Yiyun Technology Co., Ltd. to increase its presence in China’s 5G multimodal. announced the establishment of a joint venture. Communication department. The new company, Datasea Yiyun (Shenzhen) Digital Technology Co., Ltd., will focus on implementing artificial intelligence (AI) to drive 5G services and aims to generate significant revenue in 2024.
The joint venture, established on December 22, 2023, aims to integrate Datasea’s technical expertise with Yiyun Technology’s digital marketing and 5G operational capabilities. Datasea will hold 66% of the shares in this venture, and Yiyun Technology will own the remaining 34%. This strategic partnership is expected to leverage the world’s largest 5G network and computing power to deliver innovative multimodal data transmission solutions.
Datasea CEO Zhixin Liu expressed optimism about the joint venture’s potential to strengthen its competitiveness and expand its customer base by providing more efficient and intelligent AI-based 5G services. Ta. This partnership will play a key role in Datasea’s growth strategy and diversification efforts.
DataSea Digital will serve as the primary platform for delivering Datasea’s AI-powered 5G multimodal communications services. These services are designed to provide a convenient and high-quality experience for users and can benefit a wide range of industries, including agriculture, logistics, media, and healthcare.
The establishment of this joint venture comes at a time when China’s 5G market is rapidly growing. According to the GSMA’s China Mobile (NYSE:) Economic Development 2023 report, China will have 805 million 5G mobile users in 2023, accounting for 46.6% of the country’s mobile phone users. According to forecasts, China will be the first market to reach 1 billion 5G connections by 2025, with an estimated market size of approximately $527.8 billion.
The statement in the press release indicates that the joint venture between Datasea and Yiyun Technology is in line with current market trends and capitalizes on the growing demand for advanced 5G communication services in China.
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