China Unicom and Telefónica target big data in China with joint venture
China Unicom and Telefónica have established a joint venture to provide big data services in China.
Called Smart Steps Digital Technology, the company will leverage Telefónica’s Smart Steps technology and China Unicom’s network across China. It will be 55% owned by China Unicom and 45% owned by Telefónica.
Smart Steps technology is designed to provide location based insights and other big data related services, and has been used in markets across Europe and Latin America for several years.
The two companies hope that the technology can be applied extensive across China, namely in areas such as transportation construction and operations, urban planning, tourism management, public security, financial risk control, real estate and retail analysis.
The joint venture builds on a strategic alliance first established between the two companies in 2009, with plans to explore further digital initiatives in the future.