FingerMotion (Nasdaq: FNGR): One Company Reports Trying To Repair The Cellphones Of More Than A Billion Users

Chances are excellent you’ve broken or lost one of your cell phones.  With smartphone ownership in the U.S. at 70%, according to Nielsen Holdings PLC’s NLSN survey arm, that number is expected to grow. 

Cellphone users are pretty consistently clumsy when it comes to carrying and using their mobile devices.  According to Statista, 74% of respondents to a recent poll reported dropping their phones on the ground. The study also found that phones fell from pockets at a 49% rate. SquareTrade Inc., a third-party electronics warranty company, says 18- to 24-year-olds are 16% more likely to break their phones and men are 70% more likely to lose their phones. Women are 42% more likely to have their phones stolen.  

In a European study last year by Swiss cloud storage company pCloud, the type of phone most commonly broken is Apple Inc.’s AAPL iPhone 11, which topped Samsung Electronics Co. Ltd.’s (KRX: 005930) Galaxy S10 and S10 Plus. 

Chinese Cell Phone Users Top 1.2 Billion

Insurance plans offered by carriers or third-party companies have been trying to keep up with breakage and loss claims, but imagine the difficulty of protecting the world's largest nation of cell phone users — China.   

Although many cracked screen companies are listed on popular sites in China, like those hosted by Alibaba Group Holding Ltd. BABA, the task of helping more than 1.2 billion users repair and replace their phones is monumental.   

One company coming to the aid of cellphone users in China is FingerMotion Inc. FNGR, a mobile data and services company that recently launched several mobile device protection products. 

The launch will use the company’s subsidiary, Shanghai TengLian Jiujiu Information and Communication Technology Co. Ltd., to grab a foothold in China’s $10.6 billion annual mobile phone protection market. TengLian is a digital technology service company providing long-term e-commerce portal service management to mobile operators in China.  

A New Suite Of Protection For China’s Mobile Users

FingerMotion reported it will distribute the mobile device protection products through Chinese carriers as embedded, value-added device, voice and data plan features. With a mobile subscriber base of 90 million, the Chinese province of Henan will be the first to roll out the program before a national launch shortly after that.  

China has become the world leader in 5G, and FingerMotion says it is aligning its suite of next-generation, innovative product offerings for mobile carriers with the burgeoning technology. The products will enable enhanced protection of vital components and device trade-in programs, bundled with subscription plans and offering at least three levels of security. Those levels include accidental screen damage, mechanical breakdown and multiple trade-in solutions for new and existing subscribers.

“This latest cooperation agreement with one of the world’s leading mobile device protection companies demonstrates our ability to facilitate innovation by leveraging globally successful business models and customizing them for the unique needs of the Chinese market,” FingerMotion CEO Martin Shen said. 

“We should also reiterate that, in the current political landscape, the device protection insurance business, which relies on new mobile phone sales, is not subject to Chinese regulatory scrutiny.”

FingerMotion and its subsidiaries have multiple years of experience in servicing the complex workflows in the Chinese telecommunications industry, launching several new products into its ecosystem and promoting superior customer service. 

For more information about FingerMotion, visit www.fingermotion.com. 

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