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| 5BARz prepares to rollout Network Extender in India, one of the most significant markets in the wireless industry |
SAN DIEGO, CA, Mar 4, 2015 - (ACN Newswire) - March 4th, 2015, 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.
Contact:
5Barz International, Inc.
Tel: +1-877-723-7255
E-mail: ir@5barz.com
Topic: Establish New Company
Source: 5BARz International Inc.
Sectors: Wireless, Apps
https://www.acnnewswire.com
From the Asia Corporate News Network
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