China Unicom will establish a joint venture with Telefonica, a leading Spanish multinational telecom company.
According to China Unicom, the preparation team has been formed and the joint venture will soon be launched.
Under the agreement signed by the two parties, the joint venture will have total capital of CNY100 million, including CNY60 million from China Unicom and CNY40 million from Telefonica. The new joint venture will be engaged in location-based big data business in the Chinese market. Services such as precision marketing will come from this partnership.
The joint venture with Telefonica represents China Unicom's determination to further enhance its big data business around the world. Though the company will initially focus on location-based big data services, it plans to integrate other types of data in the future to realize structured data analysis and improve data value for its customers.
In addition, China Unicom is talking with Telstra and aims to establish an Internet of Vehicles and related big data service company.