HANGZHOU, China, March 20, 2013 /PRNewswire-FirstCall/ -- Yosen Group, Inc. (stock symbol: YOSN) ("Yosen", or "the Company") announced the signing of Distribution Agreement with RadioShack's joint venture in Greater China, and thus became the supplier to RadioShack in the Greater China region.
On January 31st, 2013, Foxconn International Holdings Limited's ("Foxconn") subsidiary First Honest Enterprises Ltd. and RadioShack Global Sourcing, a unit of the U.S. retailer, formed a joint venture (the "Foxconn - RadioShack JV") selling consumer electronics and offering other services in the Greater China region. The Foxconn - RadioShack JV, the first joint venture established by Foxconn and a retailer, will specialize in the sale of mobile phones, TVs and other accessories. With Internet Mobility as its pivotal business line, the joint venture's focus is to enhance 3C solutions for consumers (Computer; Communication; Consumer Electronics, or "3C"). Similarly, Yosen has been promoting cutting-edge digital products and committed to improving its customers' lifestyles through top notch 3C products and services. As stated by Yosen's management, bringing their customers to the most modernized, high-end experience has been Yosen's ultimate goal.
Through this cooperation with Foxconn - RadioShack JV, Yosen will sell well-known brands of accessories at RadioShack's retail stores in the Greater China region, providing a full range of best products and allowing its customers to compare prices.
For over ninety years, RadioShack has been a leading national retailer of innovative technology products and services, including personal, mobile, home technology, and power supply products. RadioShack's retail network includes approximately 4,700 company-operated stores in the United States and Mexico, 1,500 wireless phone centers in the United States, and approximately 1,100 dealer and other outlets worldwide.
Hon Hai Precision Industry Co., Ltd., trading as Foxconn, is a Taiwanese multinational electronics contract manufacturing company. It is the world's largest electronics contract manufacturer measured by revenues. Foxconn is primarily an original design manufacturer, and its clients include major American, European, and Japanese electronics and information technology companies. Notable products that the company manufactures include the iPad, iPhone, iPod, Kindle and PlayStation 3.
About Yosen Group, Inc.
Yosen Group is a leading wholesale distributor and retailer of 3C merchandise: computers, communication products and consumer electronics. The company specializes in wholesale distribution and retail sales of 3C products in Eastern China, focusing on products that make life more comfortable, convenient and connected. The company operates under the Yosen and Wang Da brand names. For more information, visit http://www.yosn.com/.
Safe Harbor Statement
Certain statements in this press release, constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements include, without limitation, statements regarding the Company's future performance. The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the periodic reports that are filed with the Securities and Exchange Commission. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.
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SOURCE Yosen Group, Inc.