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Investor Relations News

Vtion Wireless Technology AG signs iPhone Distribution Contract with China Unicom

Frankfurt, 21. December 2009

The Vtion Group, one of the three leading suppliers of wireless data solutions for mobile computer use in China, has signed an agreement with China Unicom to provide iPhone sales, user development and after-sales service support throughout Fujian Province - a large and one of the rapidly developing provinces on China's southeastern coast. Under the agreement, Vtion will provide package deals of an iPhone, 2G/3G network service and a Vton wireless data card throughout Fujian, as well as establish "Vtion iPhone Sales Centers"in Fuzhou, Quanzhou and Xiamen. The operating model involves co-branding and shows the close manner in which Vtion is cooperating with regional telecom operator offices to communally develop the Chinese 3G market.

Like AT&T in the US and T-Mobile in Germany, China Unicom is the exclusive supplier of the iPhone throughout China. Currently, China Unicom boasts 144 million users throughout China. Under the agreement that Vtion and China Unicom have signed in Fujian province, Vtion has exclusive rights to distribute its three customized packages: the diamond package, the platinum voice package and the platinum data package. All packages include the same core elements - an iPhone, network service and a Vtion data card for laptops, with the variation coming in the type of service plan users choose. Vtion has a long-standing relationship with China Unicom, dating back to when it was a major supplier of China Unicom's CDMA 1X data cards, and has been named a "Top-tier Qualified Supplier" of China Unicom for six consecutive years.

"As a ‘Top-tier Qualified Supplier' of China Unicom, they are well acquainted with Vtion's capabilities, particularly our reputation of after-sales service support," comments Vtion CEO Chen Guoping. "The development of the 3G networks in China has brought about numerous opportunities to work in a mutually beneficially manner with the telecom operators. Our close ties to China Unicom have given us this opportunity to expand a higher-margin area of our business by matching our core competencies to an attractive product like the iPhone, in order to develop this substantial market together with China Unicom," he continues.

 

About Vtion

The Vtion Group is one of the three leading suppliers of wireless data cards and associated services for the mobile use of computers via broadband wireless networks in the People's Republic of China. The Vtion Group concentrates mainly on the development and sale of wireless data cards, including provision of appropriate after-sales services. The Vtion Group also supplies Internet-based data service solutions. The company has about 150 employees. The Vtion Group generated sales of EUR 39.2 million and a net profit of EUR 12.4 million in 2008. The Vtion Wireless Technology AG shares are being traded in the Prime Standard on the Frankfurt Stock Exchange with the ISIN DE000CHEN993. The company's ticker symbol is V33.

 

For further information, please contact:

Kirchhoff Consult AG
Dr Kay Baden, tel.: +49 40 60 91 86 0, baden@kirchhoff.de
Janina Wismar, tel.: +49 40 60 91 86 50, janina.wismar@kirchhoff.de

 

Disclaimer concerning prognoses
Certain statements in this communication contain formulations or terms referring to the future or future developments, as well as negations of such formulations or terms, or similar terminology. These are described as forward-looking statements. In addition, all information in this communication regarding planned or future results of business segments, financial classification numbers, developments of the financial situation, or other financial or statistical data contains such forward-looking statements. The company cautions prospective investors not to rely on such forward-looking statements as certain prognoses of actual future events and developments. The company is neither responsible nor liable for these forward-looking statements. It is not responsible for updating such information, which only represents the state of affairs on the day of publication.

 

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