GUANGZHOU, China, June 29 /Xinhua-PRNewswire/ -- Guangzhou Global Telecom, Inc. (OTC Bulletin Board: GZGT), a wholesale distributor of mobile phone handsets, pre-paid calling cards and mobile handset value-added services in The People's Republic of China (PRC), announced today that the company signed a distribution agreement with China Unicom's Guangzhou Branch. Pursuant to the agreement, Global Telecom will become an agent to distribute the business of CDMA and GSM, phone cards and other value added services in Guangzhou.
As of April 2007, the numbers of users of GSM and CDMA phones are 110,298,000 and 38,207,000 respectively. New users of GSM and CDMA in April 2007 reached 1,140,000 and 483,000 respectively. According to published statistics, new GSM users increased by 25.7%, and new CDMA users increased by 30% during the first quarter of 2007, compared to the same period of 2006.
CEO Li Yankuan states, "This is a tremendous opportunity for GZGT. Our enhanced access to quality GSM and CDMA equipment will not only bring additional revenue into the company, but also build upon our positive corporate image to overseas companies and potential customers."
District General Manager Huang, of China Unicom's Guangzhou Branch, commented that "we believe that Guangzhou Global Telecom possesses superior management and a well thought business plan for expansion within their business model. We are pleased to see Guangzhou Global Telecom has successfully listed the company's common stock in the United States. This listing adds tremendous credibility and notoriety to the company. With the support from the US stock market and company management, we hope Guangzhou Global Telecom can continue to grow with our own business expansion. We are looking to introduce Guangzhou Global Telecom to become the agents in other cities of Guangdong if the terms of co-operation can be agreed upon by both parties."
About Guangzhou Global Telecom
Guangzhou Global Telecom Limited Company is a national mobile phone handset and pre-paid calling card distributor and provider of mobile handset value-added services. Maintaining cooperative relationships with China Telecom, China Mobile and China Unicom, the Company seeks to become the largest sales and distribution center of mobile phones, mobile phone parts and prepaid mobile phone cards in China. GTL plans to introduce new software and services through an expanded network of regional and neighborhood service centers, shops and virtual stores. For details, please visit our web site at http://www.guangzhouglobaltelecom.com .
Safe Harbor Statement
Certain of the statements made in the press release constitute
forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding our future plans, objectives or performance. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in The People's Republic of China, variations in cash flow, reliance on collaborative retail partners and on new product development, variations in new product development, risks associated with rapid technological change, and the potential of introduced or undetected flaws and defects in products, and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time.
For more information, please contact:
Steven Bigley
Aero Financial, Inc.
Tel: +1-858-481-8022
Email: sbigley@aero-financial.com
