Datasea Establishes Joint Venture Company To Further Penetrate The 5G Market In China; Datasea Holds 66% Total Of The Equity Of DataSea Digital And Yiyun Technology Holds A 34% Ownership Position
Portfolio Pulse from Benzinga Newsdesk
Datasea Inc. (NASDAQ:DTSS) has established a joint venture, Datasea Yiyun (Shenzhen) Digital Technology Co., Ltd. (DataSea Digital), with Shenzhen Yiyun Technology Co., Ltd. to enhance its penetration in China's 5G multimodal communications sector using AI. Datasea holds a 66% equity stake, while Yiyun Technology owns 34%. The venture aims to leverage Datasea's technology and Yiyun's marketing capabilities to drive significant revenue in 2024, focusing on AI-based 5G services to diversify customer base and improve user experience.
February 20, 2024 | 2:06 pm
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Datasea Inc. has formed a joint venture with Shenzhen Yiyun Technology to advance in the 5G multimodal communications market in China, leveraging AI. Holding a majority stake, Datasea aims for revenue growth and customer base diversification in 2024.
The formation of the joint venture with Yiyun Technology represents a strategic move for Datasea to strengthen its position in the 5G market in China, a key growth area. Holding a majority stake in the venture indicates significant control and potential benefit from the partnership. The focus on AI-based 5G services, a high-demand sector, along with the aim to diversify its customer base and improve user experience, suggests a positive outlook for revenue growth in 2024. This strategic partnership and expansion into AI-based 5G services are likely to be viewed positively by investors, potentially leading to a short-term positive impact on DTSS's stock price.
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