Shenzhen, China, 15 Feb – Chinese company SinoHub has announced it set up a partnership with ciao Telecom, of the United States, to sell mobile phones in Brazil, according to a statement issued Tuesday in Shenzhen.
The statement said that Brazil was currently one of the world’s biggest growth markets in terms of telecommunications equipment and the number of mobile phones in the market was expected to total 276 million units by the end of the year, representing year-on-year growth of 14 percent.
Under the terms of the partnership, SinoHub and Ciao Telecom will try to take advantage of this growth trend by manufacturing and selling high quality mobile phones and tablet PCs.
According to the agreement that was signed, the partnership will be called CiaoHub, and SinoHub and Ciao Telecom will each have a 47 percent stake, whilst the remaining 6 percent will be shared equally amongst the six directors of CiaoHub.
CiaoHub will build a factory covering an area of 9,000 square metres in Vila Velha, in the Brazilian state of Espírito Santo, for local production of equipment, which will be modelled on an existing factory in Shenzhen and managed by SinoHub.
SinoHub is specialised in manufacturing mobile phone for third parties and Ciao Telecom is a global telecommunications services provider. (macauhub)