Kunekt to Design, Build and Market Quality Mobile Phones and Android Smartphones and Tablets in Developed and Developing Countries
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"),
Xingwei generated revenue in excess of
Yiyueqiji is singularly focused on the design and implementation of
Android smartphones, tablets and mobile Internet devices. Yiyueqiji is
headed up by
Upon closing of the acquisitions,
Kunekt plans to evolve the Xingwei team into a smartphone and tablet design group. Together with the Android team at Yiyueqiji, Kunekt will have a complete design team for mobile phones, smartphones and tablets, enabling the company to control all aspects of the design, manufacturing and distribution of its mobile device products.
The combined team has extensive experience, contacts and customers in
"This business and skill-set combination enables Kunekt to significantly advance its business. In one move, we combine the Kunekt brand, a mobile device design team and an Android design team, fundamentally repositioning Kunekt from a business in development to an established mobile phone company," said Bruk, who will be the co-chairman and co-CEO of Kunekt upon the closing of the acquisitions.
Li added, "These transactions are positive not just for Kunekt but also for Yiyueqiji's and Xingwei's existing customers."
About Kunekt
Kunekt Corp. (OTCBB: KNKT) is a U.S. publicly traded company focused on
designing, building and marketing mobile phones as well as smartphones
and tablets powered by Google's Android mobile operating system. The
company's mission is to build a globally recognized brand in the mobile
device market and deliver smart phones and tablets at prices that are a
fraction of the industry leaders.
The company is listed on the OTC Bulletin Board under the symbol KNKT. For more information about Kunekt and to sign up for email updates, visit www.kunekt.com and follow each company on Twitter and Facebook.
Public Relations/Media
Stern & Co.
Telephone: +1-212-888-0044
Email: pr@kunekt.com
Investor Relations
Barwicki Investor Relations Inc.
Telephone: +1-877-4-KUNEKT (+1-877-458-6358)
Email: ir@kunekt.com
Digital Strategies
ProActive Capital Resources Group LLC
Telephone: +1-212-828-7373
Email: ds@kunekt.com
Forward-Looking Statement
This news release contains "forward-looking statements". Statements in this news release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, such as the following: (1) statements regarding the management and corporate structure of Kunekt upon closing of the definitive agreements; (2) that initial targets upon closing of the definitive agreements will be Indian and Chinese markets and that the biggest growth opportunities are in the Chinese and Indian markets; (3) that Kunekt will become an established mobile phone company upon closing of the definitive agreements; and (4) that post-closing, Kunekt will have a complete design team for mobile phones, smart phones and tablets, enabling the company to control all aspects of their design, manufacture and distribution. It is important to note that actual outcomes and Kunekt's actual results could differ materially from those in such forward-looking statements. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (1) a failure to close the definitive agreements; (2) an unwillingness for the persons named in this release to serve as management of the company post-closing; (3) an inability to evolve the businesses of the different companies into a singular group; (4) the ability of Kunekt to design, manufacture and market mobile phones, smartphones and/or tablets at all and at a price less than the industry leaders; (5) Kunekt's ability to remain competitive as other parties develop and release competitive products; (6) Kunekt's ability to engage reliable companies to manufacture mobile phones, smartphones and tablets; (7) the ability of Kunekt to establish a recognized and/or global brand for its mobile phones, smartphones and tablets; (8) the success by Kunekt of the sales of its current and new products; (9) the impact of technology changes on Kunekt's products and on the industry; (10) general economic conditions as they affect Kunekt and its current and prospective customers, including a continued downturn in general economic conditions internationally; (11) the ability of Kunekt to control costs operating, general administrative and other expenses; and (12) insufficient investor interest in Kunekt's securities which may impact on its ability to raise additional financing as required.
Readers should also refer to the risk disclosures outlined in Kunekt's
quarterly reports on Form 10-Q, annual reports on Form 10-K and
Kunekt's other disclosure documents filed from time-to-time with the
SEC at www.sec.gov and available on Kunekt's investor relations website
at www.kunekt.com. Additional information will also be set forth in our
Annual Report on Form 10-K for the year ended
All information provided in this release is as of
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SOURCE Kunekt Corporation