FET to invest NT$300 million in S Mart in three years

Far EasTone Telecommunications (FET) will invest a total of NT$300 million (US$9.4 million) in S Mart (formerly called S Marketplace) - the Taiwan-based mobile carrier's online store of Chinese-language applications for use in Android handsets - over a three-year period starting mid 2009, according to the company.

S Mart has attracted 300,000 downloads cumulatively since its launch in mid 2009 and the number of applications available at the store is expected to increase from 1,000 currently to 1,500 at the end of 2010, FET indicated. About 60% of the applications are chargeable and 70% of the cumulative downloads are from non-FET subscribers, the carrier said.

S Mart is an open platform, with applications passing FET's examination and tests to be launched about seven days after the submission by developers, FET indicated, adding for chargeable applications, developers and the company share 70% and 30%, respectively, of sales revenues. While most of the applications have been developed in Taiwan, the remaining have come from developers in China, Hong Kong, South Korea, Japan and the US, FET noted.

FET expects S Mart to attain a cumulative volume of 10 million downloads by mid 2012, the company said.

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