NEW YORK, June 10, 2011 /PRNewswire/ -- Mike Narula, founder, President and Chief Executive Officer of Reliance Communications, LLC, one of the nation's premier wireless distribution companies, has received the Ernst & Young Entrepreneur Of The Year® 2011 New York Award in the Business Services category. Reliance is headquartered in Hauppauge, NY.
According to Ernst & Young LLP, the award recognizes outstanding entrepreneurs who demonstrate excellence and extraordinary success in such areas as innovation, financial performance and personal commitment to their businesses and communities. Mike Narula was selected by an independent panel of judges, and the award was presented at a gala event at the New York Marriott Marquis on June 8, 2011.
In accepting the award, Mike stated that he was humbled by the recognition, which must be shared with others in his company. "I am deeply honored to receive this prestigious award recognizing entrepreneurial excellence. It's a tribute not only to me, but to our management team and all our employees for their personal commitment to excellence and exceeding expectations in servicing our customers."
Mike Narula began his career in the wireless industry in 1998 as a retail cellular telephone agent, working out of a single location in New York City. A few years later, he formed a distribution business. Next he co-founded Bean Rocket Mobile, a retail seller and wholesale distributor of wireless devices and accessories. His insight into the mobile electronics distribution business led to growth and success based on the disciplined management of product, inventory, sales and customer service operations to help his clients achieve their business goals.
In 2006, Mike Narula formed Reliance Communications, LLC, with the primary goal of becoming one of the nation's premier wireless distribution companies. Reliance soon acquired Quintex Wireless, further augmenting the corporate client base and supplier relationships. By 2009 the Company had moved to a 20,000 square foot warehouse and office building, and was establishing close working relationships with the largest manufacturers of cellular handsets, including Motorola, PCD, Samsung, RIM and LG. In March of 2010, Reliance was named an Authorized Verizon Wireless Distributor, becoming one of only three such distributors for Verizon in the US. In May of 2011 a contract was signed for the purchase of a 70,000 square foot office and warehouse facility.
Under Mike's leadership, Reliance is transforming the way wireless products come to market, providing a global sales opportunity for technology partners by distributing high-quality, reliable and flexible wireless communications devices in the US, China and India. Product planning and development on CDMA and GSM platforms, technical testing, quality control as well as marketing and warranty support are among the offerings provided by Reliance that differentiate it from other wireless industry suppliers.
The success of Reliance can only be described as impressive. Revenues have grown at an annual rate of approximately 300 percent per year from 2008 through 2010; this trend has continued into 2011.
Capitalizing on his success in the US, Mike continued his path of growth into overseas markets. In August of 2010 he formed AirTyme Communications in India, and in February, the company announced the grand opening of AirTyme's corporate office in Gurgaon.
Mike Narula has had an active role in the telecommunications industry. He is a member of the New York & New Jersey Minority Supplier Development, Inc. an organization that identifies minority suppliers, certifies bona-fide minority business enterprises, and facilitates procurement opportunities between corporate America and Council-certified minority suppliers.
As a New York Award Winner, Mike is now eligible for the Ernst & Young Entrepreneur Of The Year 2011 National Award. Award winners in several national categories, as well as the overall Ernst & Young Entrepreneur Of The Year National Award winner, will be announced at the annual awards gala in Palm Springs, California, on November 12, 2011.
The National Awards are the culminating event of the Ernst & Young Strategic Growth Forum®, the nation's most prestigious gathering of high-growth, market-leading companies, which will be held November 9–13, 2011.
The Ernst & Young Entrepreneur Of The Year Awards Program celebrates its 25th anniversary this year. Past award winners have included Howard Schultz of the Starbucks Coffee Company, Arthur M. Blank of AMB Group, LLC (Home Depot, Atlanta Falcons), Pierre Omidyar of eBay, Inc., Ruth Fertel of Ruth's Chris Steak House, Inc., Maxine Clark of Build-a-Bear Workshop, Tom Adams of Rosetta Stone Inc., Matt Szulik of Red Hat, Inc., and last year's national winner, Howard Lutnick, Chairman and CEO of Cantor Fitzgerald and BGC Capital Partners, Inc.
Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year program is pleased to have the Ewing Marion Kauffman Foundation as a national sponsor. In New York, sponsors include Marsh USA, Scherzer International, SAP America Inc, HSBC Bank, SolomonEdwardsGroup, Empire Valuation Consultants, WithumSmith +Brown, Murray Devine, Orrick, Herrington & Sutcliffe and RR Donnelley.
Reliance Communications is an international distribution company specializing in integrated supply chain solutions for the wireless industry. Headquartered in Hauppauge, NY, Reliance has over 20 years of extensive experience as a retailer, agent, master agent and distributor. Reliance offers a full range of products, benefits and flexible terms to help every agent maximize their sales potential. Last year, Verizon Wireless named Reliance Communications an Authorized Distributor of wireless devices to Verizon Wireless agents.
About Ernst & Young Entrepreneur Of The Year®
Ernst & Young Entrepreneur Of The Year® is the world's most prestigious business award for entrepreneurs. The unique award makes a difference through the way it encourages entrepreneurial activity among those with potential, and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 140 cities in more than 50 countries.
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