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AutoNavi iPhone Application Named China's Highest-Grossing iPhone Application for Second Consecutive Year(December 19, 2011)
BEIJING, Dec. 19, 2011 (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 its iPhone application has again been named the highest-grossing iPhone application ("app") in China for the year, according to Apple's App Store Rewind 2011, a list of Apple's best and most popular apps for the year. The Company's app beat out those from various industries including the gaming, social and leisure sectors to achieve the number one position for 2011.
AutoNavi's chief executive officer Mr. Congwu Cheng commented, "We are proud to be the producer of China's top-grossing iPhone app for the second consecutive year. With more and more customers actively adopting our navigation solutions, our number one ranking reflects our commitment to developing the highest quality products, our understanding of how to integrate our products into the everyday lives of our end-users and our ability to develop truly dynamic end-user navigation solutions. Our success rests on our long-term focus on product development and technological innovation as well as our continued efforts to broaden AutoNavi's brand awareness. As we continue to execute our location-based media and e-commerce platform strategy, we are confident that we will be able to realize success across the many exciting opportunities available in the mobile Internet space."
AutoNavi's iPhone app provides voice-guided navigation for China, including Hong Kong and Macau, and can be purchased through the iTunes store for a promotional price of RMB50.00 per download. The Company believes that AutoNavi's app distinguishes itself from competing apps by the high quality of its functions—something iPhone users have come to expect. The app features advanced functions such as 3-D street views, high-definition viewing on the iPhone 4 and iPad, an in-depth database that allows for online points of interest searches, real-time traffic information for select cities as well as social functionality that allows users to share their locations through e-mail, short messaging and micro-blogs.
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.
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.
CONTACT: 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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