“Founded in the late 1990’s, the three Internet companies embraced e-commerce, online advertising and other revenue models but failed to turn a profit until 2002, when they began to provide Internet content, for a fee, to users of China’s nearly 200 million cellphones. On their phones, cellular subscribers can receive sports news, jokes or advice on their sex lives – and can even search for dates – all thanks to the portals. Each variety of service typically costs $3 a month, and each download costs an additional 3 cents, on average. ” However, some financial analysts warn that Chinese stocks are likely to fall sharply.
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