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AutoNavi Celebrates the 2012 Chinese New Year With an Enhanced Navigation and Mapping Experience for iPhone Customers(January 26, 2012)
BEIJING, Jan. 26, 2012 (GLOBE NEWSWIRE) -- AutoNavi Holdings Limited ("AutoNavi" or the "Company") (Nasdaq:AMAP), a leading provider of digital map content and navigation and location-based solutions in China, today announced that it successfully launched the newly updated versions of its premium iPhone navigation applications—HD AutoNavi Navigation v6.7 and free map application, AMAP v1.2.5—this week, just in time for the peak travel season of the Chinese Lunar New Year.
The new applications contain several unique features that have already been embraced by millions of AutoNavi's users. The new features of HD AutoNavi Navigation v6.7 include:
City-specific functions, giving users the option of selecting which cities' map data they wish to download, thereby reducing data storage use and increasing download speeds;
Cloud-based services, allowing users to share customized routes with friends through AutoNavi's server;
Voice command options, providing users with hands-free search capability, enhancing ease-of-use and improving driver safety.
The latest features of AMAP v1.2.5 include:
Traffic broadcast, an automatic, voice-guided traffic report. This personalized navigation functionality, never before available in China, is route-specific to each AMAP user and is an ideal solution for avoiding traffic on China's busiest roads.
Since the release of HD AutoNavi Navigation v6.7, the average number of daily downloads of the Company's paid navigation application has increased approximately 19 fold compared to the average number of daily downloads in the previous week.
As of today, January 26th, 2012, the user base of AutoNavi's free mobile map application has topped 40 million users, up from 26 million users at the end of the third quarter of 2011. The average number of daily active users this past week has increased over 50% from last year's October Golden Week holiday. Each month, over 4 million people begin using the AMAP application to supplement their travel planning.
AutoNavi's Chief Executive Officer Mr. Congwu Cheng commented, "The newly enhanced applications for iPhone and the significant uptick in user bandwidth demonstrate AutoNavi's ongoing commitment to product development and technological innovation while reflecting our distinct understanding of our users' needs. We are thrilled to see the immediate adoption and popularity of our newly enhanced premium iPhone navigation and free mobile map applications. As more and more users become actively engaged with our mapping platform, we are confident that our innovative mobile solutions will become an increasingly larger part of the daily lives of China's mobile Internet users, positioning AutoNavi to continue to capture the many exciting opportunities available in the mobile Internet space."
About AutoNavi Holdings Limited
AutoNavi Holdings Limited (Nasdaq:AMAP) is a leading provider of digital map content and navigation and location-based solutions in China. At the core of its business is a comprehensive nationwide digital map database that covers approximately 3.1 million kilometers of roadway and over 20 million points of interest across China. Through its digital map database and proprietary technology platform, AutoNavi provides comprehensive, integrated navigation and location-based solutions optimized for the Chinese market and users, including automotive navigation solutions, mobile location-based solutions and Internet location-based solutions, public sector and enterprise applications.
The AutoNavi Holdings Limited logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8262
Forward Looking Statements
This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Among other things, the quotations from management in this press release, as well as AutoNavi's strategic and operational plans, contain forward-looking statements. AutoNavi may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about AutoNavi's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: AutoNavi's ability to adequately maintain and update its digital map database and minimize errors in its solutions; its current reliance on the automotive navigation market and a small number of customers for a substantial portion of its revenues; the project-based nature of its public sector and enterprise applications business; its limited operating history in the mobile/Internet location-based solutions markets; compliance with a complex set of laws, rules and regulations governing its surveying and mapping and other businesses in China; competition in the navigation and location-based solutions businesses in China; and its ability to manage its growth effectively and efficiently. Further information regarding these and other risks is included in AutoNavi's annual report on Form 20-F as well as in its other filings with the Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and AutoNavi undertakes no duty to update such information, except as required under applicable law.
For investor and media inquiries please contact:
AutoNavi Holdings Limited
Ogilvy Financial, Beijing
In the U.S.:
Jessica Barist Cohen
Ogilvy Financial, New York
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