Mobile services system is an open integrated service system, which involves various actors, such as end users, service providers, mobile operators, content providers, device providers, application developers, standard providers, the government and so on, all actors coordinate, compete, cooperate and co-create value. How to figure out a practical business model is a great puzzle to most service providers. This paper propose co-creation value is the core factors in the design of business model, and analyzes the characteristics of the mobile phone TV service and the influence factors on mobile phone TV service value, proposed a business model for it based on value co-creation theory. The model composes of five key modules, which is value creation, value proposition, value consumption, value capture, and value exchange. Finally, the paper takes China Mobile Multimedia Broadcasting (CMMB) as a example, analyzes it's success and problem according to value co-creation theory.
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