Opera Software, the developer behind the Opera computer and mobile browsers, is establishing a joint venture company with Chinese mobile phone distributor Telling Telecom. The joint venture will combine Opera’s browser technology with local content, operations and Telling’s distribution network to develop a browser specifically designed for the Chinese market.  “Through an investment over three years, Opera Software will own up to 40 percent of the joint venture company. Opera also disclosed that it is guaranteed a minimum amount of revenue from the JV, corresponding to its initial investment.”

Opera had reportedly disclosed it is guaranteed a minimum amount of revenue “corresponding to its initial investment,” but you can’t say the same thing about FroYo. That’s exactly why Google finally released Instant Previews for the OS’s default browser, after quite a bit of user demand. A few days afterwards, just as we began to think Mozilla was left out of the great browser clash earlier this week, Firefox 4 candidate 1 was released. CNET reports this version, likely to become the browser’s official release, doesn’t carry any bug fixes but a line-up of stability, compatibility and performance updates.

For Opera, there is a good reason the company partnered-up with Telling. They hold an 18 percent share of the Chinese mobile distribution market, which is expected to see massive growth in the next just like internet usage in e region and Asia as a whole. Opera is only one of the companies who’ve seen this market potential with others including Cisco – who materialized its vision on much more massive scale than the Norwegian browser maker. The Business Standard reports the networking giant announced the completion of a new 3G mobile network for Reliance Communications in India – the largest in the country, covering a whopping 62,000 square. More coverage and users however mean big business for the likes of Opera, but also a greater risk.

Bloomberg reports China said more than 4,600 government sites were hacked in 2010 as well as several other major sites, representing a 68 percent jump compared to the previous year.  It’s cause for concern, but another obstacle in the course of globalization.  To help with these matters, the U.S. and China recently teamed up for a joint fight against spam attacks, which have greatly affected the mobile sector too.