New media unit to carry content for China Mobile

China Mobile Communications Corp launched a new media arm on Thursday to provide digital content, as the leading wireless carrier tries to cushion the impact from its ailing traditional communications business.

The new company - Migu Culture and Technology Group Co - will be China Mobile's first subsidiary that will focus on providing products that can cater to the demands of the mobile Internet segment.

China Mobile is also moving five of its existing businesses - music, video streaming, e-books, animation and gaming - to the new company. The company will also invest more in Migu to make it a formidable player in the market, said Li Yue, vice-president of China Mobile.