Acknowledging the importance of the mobile platform, Ctrip (NASDAQ:CTRP), the largest travel portal based out of China, has announced a new version of its mobile booking platform. The new application, CTrip travel 5.0 was launched by the company today. The company has emphasised the importance of the mobile platform with this launch stating that the mobile platform currently contributes close to 40% of their total hotel booking transactions. The percentage is only set to increase as the Chinese smartphone users and the phone internet users are seeing a rapid increase.
The importance of the Chinese smartphone population is evident when you consider the recent focus which companies like YY Inc (NASDAQ:YY) and Netease (NASDAQ:NTES) have been putting on their mobile business. The application will bring customers access to all Ctrip services which are currently available on the PC. The service will enable travelers to plan, book and manage their trips. The company has also enhanced their location based search to facilitate customer bookings. The last version of the application had reached over 50 million total downloads before the release of the new version. The Ctrip revenues, which have increased over 100% in the last three years, will see an increased contribution from the mobile platform leading to overall revenue growth. The stock had 2.15% in the last trading session to record 3 month gains of close to 50%.
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