Gosun Communications Limited, Inc. Enters Into Agreement with Nokia to be Only Retail Chain of Telecommunications Stores in China Licensed by Nokia
Company Projects Third Consecutive Quarter of +30% Increase in Sales Revenue; Company Expands Operations to Include Additional Information Technology Products
LOS ANGELES--(BUSINESS WIRE)--Sept. 24, 2001-- Gosun Communications Limited, Inc. (OTCBB:GOSN - news) reports that after months of negotiations with Nokia, it has been named as the only licensed Nokia retail chain of telecommunications stores in China on a trial basis. Management strongly believes that its relationship with Nokia will significantly reduce the cost of its sales and will further strengthen its position of domination in the telecommunications sector in China. As a result of its relationship with Nokia, management anticipates a 35% increase in sales revenue for its third quarter, as compared with its second quarter revenues of over US$13,000,000 dollars.
Additionally, Gosun Communications Limited, Inc. recently expanded its operations to include a variety of additional information technology products to its sales line. Management expects that these information technology products, which include computers, peripherals, PDA's and MP3's, will contribute a significant amount of sales revenue in the coming months.
ABOUT THE COMPANY
Gosun Communications Limited, Inc. is the retail arm of the Gosun Communication Group, one of the better known privately controlled corporations in the field of telecommunications in China, founded in 1992 and employing in excess of 1,800 people. Gosun is incorporated in the state of Texas and headquartered in Guangzhou, a fast growing city of 10 million inhabitants in Guangdong Province, South China.
The principal business of the Company is focused on the retail sale and distribution of telecommunication equipment and related products. It also acts as an agent of cellular and paging services providers throughout China. The Company is a licensed primary agent of China Mobile Communications Corporation, one of the two exclusive cellular communications providers in the Peoples Republic of China. The Company's significant product suppliers include Nokia, Motorola, Alcatel, Siemens and Samsung to name a few.
Employing approximately 450 staff, Gosun is the largest seller and distributor of telecommunications equipment in Guangzhou City, with more than 25% market share generated through 20 directly owned chain stores in Guangdong Province. There are 4 additional chain stores in Shanghai and within 2 years, Gosun plans to expand on its business model by creating 80 more stores in the largest Chinese cities.
For the quarter ended March 31, 2001, the Company had revenues of US$10,171,306 and for the quarter ended June 30, 2001, the Company had revenues of US$13,332,938. Revenues for the quarter ended September 30, 2001 are expected to be approximately US$17,500,000.
Additional information about the Company can be found at its website www.gosuncommunications.com
Statements made in this news release concerning predictions of performance and the company's plans and objectives are not historic facts and constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve important risks and uncertainties that may cause results to differ materially from those set forth in this news release. All forward-looking statements are subject to the successful completion of actions described in the news release. Readers should carefully review the company and publicly available filings thoroughly with their registered investment advisor or registered broker.
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Contact:
de Jong & Associates (for Gosun Communications)
Ron de Jong, 877/943-9065
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