Yixin - Challenging WeChat

China Telecom will hold a press conference this morning with NetEase to announce the launch of "Yixin", an instant messaging (IM) tool jointly developed by the two parties. This means that the two sides will jointly challenge WeChat, and the OTT market will see a competitive situation among WeChat, FeiXin, and YiXin. Users will have more choices.

It is reported that China Telecom has jointly established a company with NetEase to integrate and launch an IM service similar to WeChat, named YiXin. The press conference will be held on the morning of August 18th.

The senior management team of the joint venture company established by China Telecom and NetEase has also been determined. Chairman Lu Yaohui, who is also the General Manager of Zhejiang Telecom, will concurrently serve as the chairman. Zhang Zheng from NetEase will serve as the general manager of the joint venture company, while Gao Zhimin, the original head of China Telecom's YiLiao business, will serve as the deputy general manager.