NEW YORK, July 18, 2005 (PRIMEZONE) -- Orsus Xelent Technologies Inc. (OTCBB:ORXT) today announced that, through a soon-to-be-opened Hong Kong trading company, it will in September begin selling its mobile phone products and R&D services to foreign-based customers in Southeast Asia, Latin America and Africa.
The trading company, Orsus Xelent Trading (HK) Company Limited, is expected to produce improving incremental revenue for ORXT throughout the balance of the year and into 2006.
Orsus Xelent Technologies, which currently controls approximately one percent of the Chinese mobile phone market, produces a line of 11 economically priced cellular models, 10 of which will be exported by its Hong Kong affiliate.
By virtue of their lower design and production costs, as well as their inclusion of such popular features as 1.8-inch to 2.2-inch TFT dual-color display, one to 120 minutes video recording, 300K to 1.3 million pixel photography, MP3, MPEG4 and U disk support, dual stereo speakers and multimedia messaging, these phones are expected to be highly competitive in foreign markets, said Orsus Xelent Technologies.
"This is one of the most important developments in the history of our company," said Wang Xin, President and CEO. "Now, Orsus Xelent Technologies will have the opportunity to export our proven products and unparalleled R&D services to a variety of overseas markets."
Hong Kong is one of China's leading centers for the export of mobile phones, representing about 18.4 percent of the PRC's foreign sales. China itself is the world's leading maker of mobile phones, accounting for 60 percent of global production in 2004.
Orsus Xelent Technologies Inc. is a designer of feature-rich mobile phones in the People's Republic of China. These features include 1.8-inch to 2.2-inch TFT dual-color display, 1 to 120 minutes video recording, 300K to 1.3 million pixel photography, MP3, MPEG4 and U disk support, dual stereo speakers, multimedia messaging, 40 to 64 polyphonic ring tones, flip-phone technology and innovative lightweight design. Orsus achieves optimum market penetration via collaboration with two strategic partners: CEC Cellular Limited provides low-cost production capacity as well as extensive sales and distribution networks; Beijing Xingwang Shidai Tech & Trading Co., Ltd. provides provincial distributors, city distributors and dealers with extensive sales networks throughout the PRC.
For further information, please consult the company's Web site: www.orsus-xelent.com.
Information Regarding Forward-Looking Statements: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product demand, market competition, and risks inherent in our operations. These and other risks are described in our filings with the Securities and Exchange Commission.