This paper proposes that the business model of mobile Internet services is shifting from a walled garden to an open one; the service development model relys more on open Application Programme Interface (API); and the online application software store is becoming an important platform for service delivery. The terminal platform has been the commanding point of the layout and competition of the mobile tnemet in the world. Based on the smart terminal, the competition for platform system from the hardware platform to the operation system, the middleware and the applications platform have been in shape globally. The competition in the terminal platform of mobile Intemet is moving from close to open, from uni-controlled by one company to open and cooperated by the whole industry. China should forge a terminal platform system and the ecosystem for the mobile Internet industry, and seek to achieve an overall breakthrough in the whole value chain of the industry based on the steady foundation of the user subscription and the productivity of the terminal. The breakthrough should start from the application software, stepping up from the top to the bottom platform, to extend the industry chain.