Phoenix New Media reports strategic cooperation between Yidian and OPPO

Phoenix New Media Limited (NYSE: FENG) has entered into an agreement with Guangdong OPPO Mobile Telecommunications, a manufacturer of smartphones and other electronic products in China, to provide for strategic cooperation between the parties through Particle Inc., an associate company of ifeng, the company said.

Under the agreement, Yidian will issue Series D preferred shares to an associate company of OPPO in return for services to be provided by OPPO through pre-installation of Yidian Zixun, a mobile application of Yidian, on OPPO´s smartphones, as well as certain revenue sharing arrangements with respect to advertising revenue that will be generated from Yidian Zixun application installed on OPPO´s smartphones and Yidian´s newsfeed embedded in OPPO smartphones´ browser.

Phoenix New Media Limited (NYSE: FENG) is a new media company providing content on an integrated platform across Internet, mobile and TV channels in China.