Advertisement

News Wire

Kunekt to Buy Chinese Mobile Phone Firms

HONG KONG — Kunekt Corporation (OTCBB: KNKT), creator of the Kunekt global brand of affordably priced, quality mobile devices, including Android smartphones and tablets, signed definitive agreements to acquire AMS-INT ASIA LTD. (“AMS”), Hong Kong, as a major step in its business plan to design, build and market mobile devices in developed and developing countries, initially in China and India.

Under the terms of the agreements, on closing, Kunekt will have 100% of the interest in the control and management of Guangzhou Xingwei Communications Technology Ltd. Inc. (“Xingwei”), Guangzhou, China, a mobile phone design company, and Beijing Yiyueqiji Science and Technology Development Ltd. Inc. (“Yiyueqiji”), Beijing, China, an Android smartphone design company. Xingwei has been in operation since 2004 and has 42 employees. Yiyueqiji has been in operation since 2009 and has 18 employees.

Xingwei generated revenue in excess of RMB 33 million ($5 million USD) (unaudited). Xingwei's CEO and founder is Chengwu Zhu, who previously worked for telecom giant Huawei and, following the acquisition by Kunekt, will be the Vice President of Engineering and Operations of Kunekt.

Yiyueqiji is singularly focused on the design and implementation of Android smartphones, tablets and mobile Internet devices. Yiyueqiji is headed up by Jin Su, Vice President Engineering, who previously held senior marketing and product development positions with Motorola China Technology Limited and VTech Telecommunications (HK) Ltd. Mark Bruk, president of Kunekt, said, “We will immediately begin building a sales team together with AMS to market our affordably priced, quality mobile devices. Our initial targets are the world's largest mobile phone markets of China and India. This is where the biggest growth opportunity exists of new mobile phone users and in these countries we already have established relationships.”

{complink 12957|Kunekt Corp.}

0 comments on “Kunekt to Buy Chinese Mobile Phone Firms

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.