Yosen Group Becomes Supplier to RadioShack Greater China
HANGZHOU, China, March 20, 2013
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 31^st, 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.
For more information, please contact:
SOURCE Yosen Group, Inc.
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