FingerMotion Subsidiary & China Mobile Launch Device Protection Insurance Service

About this update from Fingermotion, Inc.

NEW YORK, NY / ACCESSWIRE / February 15, 2022 / FingerMotion, Inc. (NASDAQ:FNGR) (the "Company" or "FingerMotion"), a mobile data and services company, is pleased to announce the signing of a strategic cooperation agreement between China Mobile and Shanghai TengLian JiuJiu Information Communication Technology Co., Ltd. ("TengLian") to create a device protection insurance product for mobile phones and the new 5G phones. This cooperation agreement follows the rollout of the China Unicom device protection product on January 26, 2022. When China Mobile launches this new service, it will encompass more than 1 billion users and allow them to redeem their loyalty points to upgrade their phones and package plans to 5G.This cooperation agreement represents a major milestone in the device protection market as it represents 80% of the users in the entire Chinese market, with TengLian as the first company to provide this type of groundbreaking product. At FingerMotion's core is a technology company that is well positioned to capitalize on China's digital transformation to 5G. FingerMotion's prowess in developing value-added products such as phone devices, sales bundles, and package upgrades helps drive sales to the portal platform.The strategic plan for 2022 expects "full online coverage and provincial offline coverage." China Mobile's app which is operated by FingerMotion will be critical to onboarding new users. There are 50 million users in Henan[1], 54 million in Zhejiang [2], 35 million in Anhui[3] and 23.8 million in Shanxi[4]. The Company expects to hit the milestone of 1.0 million devices under devise protection by the end of 2022. There are also plans to increase the support structure of the organization in order to accommodate the expected increase in sales. Within 3 years, FingerMotion expects the number of users of our platform to exceed 20 million based on 10 provinces, municipalities, and other regions."This newest cooperation agreement gives us incredible control of the market and the ability to set the narrative with respect to device insurance protection," said Martin Shen, CEO of FingerMotion, Inc. "One of the other things that we are finding out is that the Top Up business is extremely resilient to any recessionary pressures. The recurring revenue streams that we have created are very predictable and stable thereby creating a solid foundation on wh...

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