ZIM lessens losses

ZIM Corp. posts revenue of (all figures in US$) $538,027 in Q1, a 23.8% drop from $705,797 for the same period in fiscal 2007. However, the mobile content and service provider continued to chop losses, which fell by 82.8% to $97,397. The company’s slipping revenue reflects a decline in its SMS aggregation business, CEO Michael Cowpland notes, adding that ZIM is focusing on opportunities related to its Internet TV and mobile content platforms. Hampered by a saturated market, ZIM has been scaling down operations in its money-losing SMS operations. SMS aggregation helps to connect users more reliably to mobile network operators for better text-messaging service.

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