American global internet services and media company, AOL, is working towards increasing the revenue share from mobile advertising in the next 18 months. According to reports, Tim Armstrong, CEO, AOL has said that currently advertising on mobile devices accounts for a tiny percentage of sales which he hopes to increase to 10 percent or more of overall ad sales.

As per sources, the company’s revenue from advertising went up from 52 percent in the previous year to 60 percent this year. The CEO also said that with increasing number of users switching to smartphones and companies focusing on mobile advertising as a source of revenue, the M&A activity in this sphere is expected to rise.

Further, strong competition from Google and Facebook have caused a decline in the internet business of AOL, which reported a net loss of US$ 782.5 million in the last year, causing the CEO to look for better ways to target customers.