In todays world,the mobile phone has become popular,essential and necessarypart of our lives for communications and entertainment.In many situations,having anexpensive latest mobile phone has become a fashion and status symbol.Currently,the software and hardware of the mobile phones have many functions with multimediaand interactive capabilities,and it is projected many more features are on the horizon.　　 Mobile advertising is the byproduct of multimedia function in the mobile phone.Mobile advertisement makes one-to-one marketing possible based on careful usersegmentation,providing appropriate and interactive capabilities.Besides,this alsoleads to another viable promotional channel which is highly popular,suitable and userfriendly.Many companies are willing to explore and try mobile advertising asanother feasible marketing channel due to lower advertisement and production feesresulting in accuracy and reliability in comparing with traditional advertisingchannels.　　 This thesis consists two parts.Firstly,the concepts and market developments ofmobile advertising have been thoroughly investigated.Finally,China Mobilesmobile advertising in terms of on-going strategies,business models and its futureoptions in strategy and possible business models based on trends,key success factors,value chain analysis,and resources analysis are discussed.The recommended futureoptions are chosen as a foundation in developing business strategies based onprojections of the future in mobile advertising.