modu Signs Strategic Partnership with VimpelCom to Sell modu Products to Massive Russian Subscriber Base
modu today announced that it has signed a strategic partnership
with Russian mobile network operator VimpelCom to offer modu´s unique
mobile portfolio to its 50 million subscribers across Russia and the
CIS.
At the heart of the modu ecosystem is a tiny, sleek mobile phone -
the modu - that is fully functional and easy to use. The modu can be
slipped into a wide variety of modu jackets - stylishly designed phone
enclosures - and modu mates - modu enabled consumer electronics
devices. modu´s ecosystem offers boundless possibilities in a simple
and affordable way.
modu, which was set up in 2007 by leading technology innovator and
entrepreneur Dov Moran, the inventor of the USB Flash Drive and other
ground breaking personal storage solutions, has developed a mobile
phone that promises to transform the way people buy, use and enjoy
personal communication.
The partnership with VimpelCom has been signed in order to broaden
the choice available to consumers. VimpelCom´s licence covers a
territory with a population of about 250 million people, embracing 76
regions of Russia (where 95% of the Russian population lives)
VimpelCom has over 50 million subscribers, including almost 42 million
in Russia, VimpelCom´s subsidiaries have 4.3 million in Kazakhstan and
2.2 million in Ukraine.
The partnership will come to fruition later this year, when modu´s
full range of mobile products becomes commercially available.
For operators, the benefits are numerous: modu´s business model
means operators now have an additonal opportunity to engage in a
positive dialogue with their subscribers by offering them a wider and
more compelling choice of handset models and styles; they can also
create and build new communities and segments among their subscriber
base, leading to increased usage, additional handsets, greater loyalty
and reduced churn.
Dov Moran, Founder and Chief Executive Officer of modu, said: "The
partnership with VimpelCom is a significant and exciting one. The
market in Russia and the CIS is experiencing great change and
generating enormous potential for modu, with fashion and style
particularly crucial requirements of handsets in Russia.
"Consumers in these countries are ready for a mobile capability
that realises the full potential of personal communications, enabling
them to connect an endless array of devices on their terms, reflecting
their interests, personality and lifestyle.
"modu is all about making new connections, and the partnership
with VimpelCom helps us achieve that goal. We are delighted that
VimpelCom shares our excitement and our vision. It has been a pleasure
working with the VimpelCom management team to align our respective
strategies around this partnership, and we look forward to this
bearing fruit over the coming months."
Kent McNeley, Vice President and Chief Marketing Officer at
VimpelCom, said: "The modu proposition is just the boost the mobile
industry has needed for some time. It is both unique and compelling
and is sure to resonate with our millions of subscribers.
"VimpelCom is 100% behind the modu mobile concept and the
agreement means we can work closely with the modu team to shape and
exploit this spectacular innovation for the benefit of both
businesses, as well as consumers across Russia and the CIS
territories."
The partnership with VimpelCom is among the first of a number of
such deals modu is negotiating with prominent mobile network operators
(MNO) market to ensure that the modu platform achieves widespread
penetration and user uptake once products are available in the fourth
quarter of 2008.
NOTES TO EDITORS
About modu
www.modumobile.com
modu was established by Dov Moran and several of his colleagues
from msystems, a company he founded and sold to SanDisk in 2006 for
$1.6B. modu´s vision is to bring a fundamental change to the dynamics
of the mobile phone industry. The company is dedicated to developing
products, technologies, a wide ecosystem and business relationships
that will help realize that ambition. modu will have its official
launch at the Mobile World Congress, being held in Barcelona, Spain in
February 2008.
modu gives users the freedom to choose a new phone as often as
they like, meeting their changing needs, preferences and style- easily
and affordably. At the heart of the modu ecosystem is modu - a tiny
and sophisticated mobile phone. modu can be slipped into a wide
variety of modu jackets - stylish phone enclosures that enable users
to create a new look or design and provide added functionality. modu
can also slip into modu mates- consumer electronic devices that are
modu-enabled - allowing users to create an entirely new communication
experience.
About VimpelCom
The VimpelCom Group includes companies operating in Russia,
Kazakhstan, Ukraine, Uzbekistan, Tajikistan, Georgia and Armenia. The
VimpelCom Group´s GSM and 3G license portfolio covers a territory with
a population of about 250 million. This includes the entire
territories of Russia, Kazakhstan, Ukraine, Uzbekistan, Tajikistan,
Georgia and Armenia. VimpelCom was the first Russian company to list
its shares on the New York Stock Exchange ("NYSE:). VimpelCom´s ADSs
are listed on the NYSE under the symbol "VIP".