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Peak Chinese Partner Signs Distribution Agreement for AiNi(TM) Mobile Platform(July 16, 2012)
MONTREAL, QUEBEC -- (Marketwire) -- 07/16/12 -- Peak Positioning Technologies Inc. ("Peak") (TSX VENTURE:PKK) today announced that its Chinese partner, LongKey-Hong Kong Limited ("LongKey"), has signed a Master Agreement with China Unicom subsidiary, UNISK, for the promotion and distribution of the AiNi(TM) Mobile Cloud Platform to China Unicom customers, giving AiNi(TM) a potential install base of over 200 million devices. UNISK (http://www.unisk.cn) is joint venture co. between China Unicom and SK Telecom of South Korea, created to provide applications and content for China Unicom through in-house development or partnerships. In accordance with the existing partnership agreement between LongKey and Peak, fees received by LongKey from China Unicom resulting from the Master Agreement will be shared with Peak.
"We're planning a pilot project in five provincial China Unicom branches to pre-install AiNi(TM) on at least 500,000 new 3G mobile devices this fall", said Alex Wang, President and CEO of LongKey. "This Agreement with UNISK gives LongKey access to China Unicom's provincial branches in order to negotiate the terms and conditions that will govern the distribution of AiNi(TM) in each territory. We expect the pilot project to be followed by a more sustained distribution program with new AiNi(TM) subscribers added every month as China Unicom's 200 million plus mobile subscribers steadily transition from 2G devices to new 3G smart devices", he went on to say.
"The signing of this agreement with its expected outcome is exactly what we envisioned when we first partnered up with LongKey over a year ago" said Johnson Joseph, President and CEO of Peak. "Peak's strength is in software development and its vision of the mobile apps space and, while we are very good at what we do, we could never dream of doing business with a Chinese telecom giant like China Unicom on our own. Our growth strategy revolves around gaining access to the huge Chinese market by joining forces with LongKey. Today's announcement clearly validates that approach and makes this is a very exciting day for Peak Positioning", he added.
About The Chinese Telecom Market:
China is the world's largest mobile phone market with over 1.01 billion mobile subscribers as of March 2012 according to the Ministry of Industry and Information Technology of the People's Republic of China and based on published data from China's three largest telecom service providers. Since 2008, the Chinese government has made a concerted effort to increase the use of 3G technology in China and the Chinese smartphone market is growing dramatically. U.S.-based International Data Corporation recently released a report indicating that China will account for 20.7%, or 137 million, of the projected 660 million global smartphone shipments in 2012, leapfrogging the United States to also become the biggest smartphone market in the world, measured by annual shipments.
About Peak Positioning Technologies Inc.:
Peak Positioning Technologies Inc. (TSX VENTURE:PKK), is a Canadian software developer for smartphones and other mobile computing devices, conducting business primarily in China and North America. In association with its partner, LongKey-Hong Kong Ltd, the company has developed a suite of applications for mobile devices that includes: cloud-based calendar, e-mail and contacts synchronization, automated device configuration, and HomeWave(TM) mobility security. While LongKey markets the applications in China through its partnerships with major Chinese telecommunication companies and banks, Peak plans to similarly market the applications for its own account in North America. For more information: http://www.peakpositioning.com.
About LongKey-Hong Kong Ltd.:
LongKey-Hong Kong Ltd., through its subsidiary LongKey Software Technology Ltd., provides a wide range of IT solutions, and cloud-based business management and mobile applications based on its proprietary Unified Information Services Platform (UISP). LongKey's applications are distributed to end-users in China by some of China's largest telecom and banking entities. For more information: http://www.longkeysoft.com.
Forward-Looking Statements / Information
This news release may include certain forward-looking information, including statements relating to business and operating strategies, plans and prospects for revenue growth, using words including "anticipate", "believe", "could", "expect", "intend", "may", "plan", "potential", "project", "seek", "should", "will", "would" and similar expressions, which are intended to identify a number of these forward-looking statements. Forward-looking information reflects current views with respect to current events and is not a guarantee of future performance and is subject to risks, uncertainties and assumptions. The Company undertakes no obligation to publicly update or review any forward-looking information contained in this news release, except as may be required by applicable laws, rules and regulations. Readers are urged to consider these factors carefully in evaluating any forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Peak Positioning Technologies Inc.
President and CEO
514-340-7775 ext.: 501
Pinnacle Capital Markets
Spyros P. Karellas
President and CEO
Pinnacle Capital Markets
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