- FingerMotion’s launch of the mobile device protection product in the Chinese market looks to tap into an industry valued at approximately $10.6 billion annually
- The company has also partnered with an NYSE-listed insurance company looking to venture into the Chinese market and is confident that this, together with the product launch, will accelerate its revenue growth over the next 6-12 months
- Its management is also optimistic that this latest addition will help achieve the company’s goal of pushing gross margins higher, having posted a 12% gross margin in the 2022 fiscal year, up from 9% the previous year
- Martin Shen, FingerMotion’s CEO, notes that the company’s revenue currently is just the tip of the iceberg, and with the addition of the device protection program and building on the top-up and SMS services, the company is set to experience significant growth as time progresses
On July 15, 2022, FingerMotion (NASDAQ: FNGR), an evolving technology company with a core competency in mobile payment and recharge platform solutions in China, launched its mobile device protection product in the market, looking to tap into an industry valued at approximately $10.6 billion annually (https://ibn.fm/lz5xs).
The launch was a bold move by the company to introduce a new offering in a sector previously limited to broken screen protection, leaving a vastly untapped market it could exploit. But, more importantly, FingerMotion was looking to take advantage of the advent of 5G in China by redefining the…
NOTE TO INVESTORS: The latest news and updates relating to FNGR are available in the company’s newsroom at https://ibn.fm/FNGR
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