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Ludlow Capital Updates Research Opinion on Legend Mobile, Inc. (LGMB), and their iPhone Business and Game Applications
Last Updated: Oct. 22, 2008 - 9:09am EST

(NEW YORK)-- Ludlow Capital Group, Inc updates research opinion on Legend Mobile, Inc. (OTC: LGMB), a developer of mobile phone games and business applications for Apple's iPhone, upgrades the company from a 'speculative' B to B+ rating, and maintains near-term price target of $0.10 to $0.15 per share.

SUMMARY

On Oct. 21, 2008, Apple reported an explosive six-fold increase in iPhones units sold during the most recent quarter, outstripping Research in Motion's Blackberry as the number one smart phone platform. Apple reported shipping 6.89 million iphone units for the most recent quarter, blowing away most Wall Street analyst estimates and expections. This remarkable growth in iPhone sales should reflect strongly for current iPhone application developers like Legend Mobile, Inc. (OTC:LGMB), and thus Ludlow Capital is upgrading the companies rating from B to B+, and maintaining its near-term price target of $0.10 to $0.15 per share.