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Recognising Asia's huge and growing mobile phone user market and Hong Kong's strategic location, US-based ReCellular Inc announced today (October 3) the opening of its regional office in Hong Kong.
ReCellular's Hong Kong office is responsible for the evaluation of purchased mobile phone products, parts and components produced or sourced in the region in its product evaluation laboratories. It also supplies mobile phones to refurbishers and repairers as well as conducting other sales functions.
The founder, Chief Executive Officer and President of ReCellular Inc, Mr Charles Newman, said, "We strive to build partnerships with value-added providers in Asia in order to create new sales and revenue opportunities. The new Hong Kong office will enable bulk purchasers of used and refurbished mobile phone products to view and inspect merchandise as part of the purchasing process."
Mr Newman remarked that Hong Kong's proximity to the Mainland market - the fastest growing telecommunications market in the world - places the company in a good position to take advantage of this very attractive opportunity. "According to official reports, China has the largest number of mobile phone subscribers of any nation in the world - over 380 million. This tremendous market potential, along with a multitude of potential customers and service partners, makes our local presence imperative. We look forward to developing a strong strategic base here, one that will become a significant source of our business growth."
Mr Newman added that the Kowloon Bay facility is only the first step in ReCellular's business plan in Hong Kong. "We are confident that business opportunities in the region will afford the company's further growth and hiring additional staff here."
The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr John Rutherford, congratulated ReCellular on the establishment of its Hong Kong operation, "The telecommunications sector is a key contributor to our local economy. With one of the most open markets in the world; and the world's largest telecom market on our doorstep we are a natural home for companies in this business, particularly if, like ReCellular, they have regional ambitions."
Mr Rutherford added, "Hong Kong has a dynamic mobile phone market, with a mobile subscriber penetration rate of 127.4% as of June 2006. Most mobile phone users want to be at the forefront of latest market trends, which creates a high demand for the latest phone models. Our city therefore provides an excellent source of products for recycle and resale in other markets in the region.
"On behalf of Invest Hong Kong, I wish ReCellular every success in its regional business development, especially by tapping Hong Kong's long-established strengths in sales and marketing."
Founded in 1991, Michigan-based ReCellular Inc is a global leader in collecting, reselling and recycling used wireless phones and accessories. It is the largest company in this market and currently processes over 300,000 phones per month. More information about ReCellular can be found at www.recellular.com.
Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating inward investment into the city by providing the support needed to establish or expand a business presence here. For more information, please visit the website at www.investhk.gov.hk.
Ends/Tuesday, October 3, 2006
Issued at HKT 15:31
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