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XcelMobility Mach 5 Enabled USB Modems Experiencing Strong Sales(April 10, 2012)
REDWOOD CITY, CA -- (Marketwire) -- 04/10/12 -- XcelMobility Inc. (OTCBB: XCLL) ("Xcel" or the "Company"), a developer of high speed web browsing solutions and related performance enhancing products for mobile devices, is pleased to announce that pursuant to its licensing agreement with ZTE Corporation ("ZTE"), the first order of Mach 5 enhanced high speed USB modems shipped to China Unicom retail locations across the country have experienced strong sales and excellent feedback from users.
ZTE (www.zte.com.cn/en) manufactures the devices for China Unicom, the second largest mobility provider in China with over 340 million customers. Should initial trials continue to prove successful, ZTE has projected that in the future up to 30 million units per year could be installed with the Mach 5 Xcelerator.
ZTE Corporation was founded in 1985 and is a Chinese multinational telecommunications equipment and systems company headquartered in Shenzhen, China. It is the second-largest Chinese telecoms equipment maker measured by 2011 revenues and the world's fourth-largest mobile phone manufacturer measured by 2011 unit sales. ZTE's core products are wireless, exchange, access, optical transmission and data telecommunications gear; mobile phones; and telecommunications software. It also offers products which provide value-added services, such as video on demand and streaming media. ZTE's customers are primarily telecommunications service providers and mobile network operators. Currently, ZTE delivers its high-quality, cost-effective products and services to over 500 operators in more than 140 countries around the globe.
Xcel CEO Ryan Ge comments, "The preliminary feedback from ZTE and China Unicom has been extremely positive. We are enthusiastically predicting sales to continue to remain strong and to expand rapidly with each sale generating a satisfied user who will go out and spread the word on how well their Mach 5 enabled product works. We view the initial feedback and sales as ongoing evidence of our technical superiority and a demonstration of our ability to generate significant revenue from our value proposition. The mobility users who appreciate and demand increased connectivity speeds will ultimately have the final say and we anticipate they will prove to be a very large segment of the mobile consumer population."
As part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934, further details of the Company's business, finances, appointments and agreements are filed with the Securities and Exchange Commission's ("SEC") EDGAR database. For more information visit: www.xcelmobility.com.
About XcelMobility Inc. (OTCBB: XCLL)
XcelMobility is a US based company focused on the research, development and commercialization of technologies for mobile internet users. The Company develops innovative products which considerably enhance the internet performance of smartphones, tablets and netbooks when connected to cellular carriers. Due to the vast size of the mobile market in Asia and the inherent propensity to connect to the internet using mobile devices, XcelMobility believes that shareholder value is best served by focusing commercialization efforts in the Asian marketplace prior to a product roll out on a global scale. For more information visit: www.xcelmobility.com.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development of new business opportunities, zero operational impact and projected costs, future operations, revenue, profits, gross margins and results of operations. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
On Behalf of the Board,
Ryan Ge, Director,
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