5BARz Establishes Subsidiary Company in India
March 04 2015 - 2:26PM
Business Wire
“5BARz prepares to rollout Network Extender in
India, one of the most significant markets in the wireless industry
”
5BARz International, Inc. (OTCQB:BARZ), (www.5BARz.com) ("5BARz"
or “the Company") a technology leader in the cellular network
extender industry, is pleased to announce that the Company has
established a subsidiary Company, 5BARz India Private Ltd., in
Bangalore, India.
India has approximately 900 million mobile subscribers and is
one of the fastest growing telecommunication markets in the world.
The need to improve cellular performance throughout India is a
major issue for the network operators, while dissatisfaction
amongst subscribers has never been higher as evidenced by a recent
consumer survey indicating that 40% of subscribers in India are
considering switching networks.
5BARz CEO, Daniel Bland stated, “We are very excited that the
initial commercialization and product rollout of the 5BARz Network
Extender will happen in India. Despite India’s 900 million mobile
subscribers, we have specifically identified our total addressable
market (TAM) as the 45 million high ARPU subscribers in India
(expected to grow by 10% in 2015), Optimal performance on all of
their mobile devices is a priority to these specific consumers in
India.” After successful independent field trials of the Network
Extender were completed in mid-January, the company entered into an
FTA (field trial agreement) with a tier one-network carrier in
India. Naresh Soni, 5BARz CTO stated, “We are extremely pleased
with the test results and the performance of the Network Extender
in the tier one network carrier field trials. Based on the success
of the field trials we now are preparing for deployment of our
product in the Indian market.”
5BARz India is a wholly owned subsidiary of 5BARz and will be
licensed the exclusive rights to market and distribute all of 5BARz
products throughout India in perpetuity. The subsidiary company
will be working with Flextronics, 5BARz strategic manufacturing
partner, in India as sales and production requirements expand. We
look forward to reporting our progress in the coming weeks and
months as this exciting new development unfolds.”
For further information about 5Barz International, Inc., visit
www.5barz.com, read our SEC filings at
http://ir.5barz.com/all-sec-filings and subscribe to Email Alerts
at http://ir.5barz.com/email-alerts to receive company news and
shareholder updates.
About 5BARz International Inc.
The 5BARz International Inc. business is focused on the global
commercialization of a patented product technology branded under
the name 5BARz™. 5BARz™ is a cellular network infrastructure device
for use in the small office, home or for when users are mobile.
5BARz™ incorporates a patented technology to create a highly
engineered, single-piece, plug 'n play unit that strengthens weak
cellular signals to deliver high quality signals for voice, data
and video reception on cell phones and other cellular equipped
devices. 5BARz™ represents a key solution for cellular network
operators in providing clear, high quality signal for their
subscribers with a growing need for high quality connectivity.
5BARz International Inc.'s shares are publicly traded on the OTCBB
under the ticker symbol BARZ.
Legal Notice Regarding Forward-Looking Statements
The information contained in this release consists of
forward-looking statements within the meaning of Section 27A of the
Securities Act and Section 21E of the Exchange Act. These
statements may involve risks and uncertainties that could cause
actual results to differ materially from those described in such
statements. Such forward-looking statements involve known and
unknown risks and uncertainties, including all business
uncertainties relating to product development, marketing, market
acceptance, future capital requirements, and competition in general
that may cause actual results to be materially different from those
described herein as anticipated, believed, estimated or expected.
The Company is under no obligation to (and expressly disclaims any
such obligation to) update or alter its forward-looking statements
whether as a result of new information, future events or
otherwise.
5Barz International, Inc.Alan Stamper,
877-723-7255ir@5barz.com