Yahoo has released a new version of Go, its cellphone software, that works with Microsoft's Windows Mobile operating system. The Windows Mobile initiative is expected to expand Yahoo's base of mobile users by millions. Yahoo Go, which provides one-click phone access to a variety of services including Internet search, e-mail, maps and photo-sharing, is now compatible with the more than 175 existing Windows phone devices. "Windows Mobile phone users tend to be consumers who are relatively data savvy,'' said Ojas Rege, senior director of Yahoo's mobile phone unit. "They are a pretty attractive group of users both from the standpoint of being early adopters of new services and in terms of advertising demographics." Yahoo is well on its way toward its goal of compatibility with 400 devices by the end of the year. Yahoo has also reached an agreement with Taiwanese company High Tech Computer Corp., the world's largest manufacturer of Windows-based mobile phones, to distribute the new software on its devices. It has existing agreements to distribute Yahoo Go on the devices of Motorola, Nokia, Samsung, LG Electronics and Research In Motion. Yahoo shares gained $0.49 to reach $30.80 yesterday and are up 21% on the year.
Sources: Bloomberg, New York Times
Commentary: Yahoo! Aims for Lead in Mobile Search Space • Yahoo Takes Mobile Advertising To International Market • Is Yahoo Go a No Go?
Stocks/ETFs to watch: Yahoo! Inc. (NASDAQ:YHOO), Microsoft Corp. (NASDAQ:MSFT). Competitors: Google Inc. (NASDAQ:GOOG), Apple Inc. (NASDAQ:AAPL). ETFs: Internet HOLDRs (NYSE:HHH), First Trust Dow Jones Internet Index (NYSEARCA:FDN)
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