China Mobile says it now has 50 million users of a system called Internet of Things (IOT), in which objects can be identified and linked to the Net

03.06.2013 18:23

New Net Technology Has 50 Mln Users, China Mobile Says

Telecoms firm’s service connects objects to the Net and is being used in auto industry, health care and surveillance

By staff reporter Qin Min

(Beijing) – China Mobile says it now has 50 million users of a system called Internet of Things (IOT), in which objects can be identified and linked to the Net.

IOT refers to the identification of ordinary objects through means such as radio-frequency identification, bar codes or other methods. This allows for information about the objects to be exchanged, shared and managed on the Web.In 2010, China Mobile established an IOT base in Chongqing, and in September it set up China Mobile Internet of Things Co. Ltd.

China Mobile has invested more than 1 billion yuan in its IOT business in Chongqing.

One of China Mobile’s IOT services, Internet of Cars, allows people to get information about problems with their vehicles and receive navigation information.

China Mobile and automaker Zhejiang Geely Holding Group have reached an agreement that would allow more than 100,000 car owners to receive customized service via IOT over the next three years.

Also, another China Mobile service, Internet of Health Care, has linked thousands of hospitals, 50 million people and medical services.

China Mobile’s IOT service is also being used in the surveillance of cities, helping organize video from more than 600,000 cameras set up in urban areas.

The company says it will expand its IOT services regarding medical care, education and household items.

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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