Flint to Enter Rapidly Growing Prepaid Wireless Communications Market
'Flint Mobile' to Introduce Innovative Nationwide and International Calling Services for the United States Market
OVERLAND PARK, KS--(Marketwire - 08/17/10) - Flint Telecom Group, Inc. (OTC.BB:FLTT - News), a Telecoms Technology and Services Organization, today announces that following completion of strategic partner agreements and systems integration it will enter the rapidly growing U.S. Prepaid Wireless Communications market. This will allow Flint Telecom to offer nationwide cell phone services in the United States -- including Voice, Text and Data -- as an MVNO (Mobile Virtual Network Operator) under the 'Flint Mobile' brand.
According to Ovum, a leading independent global research company: The total mobile revenue in North America today is approximately $189 Billion, of which $41 Billion is prepaid, represented by more than 39 million customers. By 2015, they estimate that the total mobile revenue in North America will be $208 Billion, $52 Billion of which will come from Prepaid. The Telecommunications Industry Association (TIA) states that the US prepaid Calling Card market generates $1.9 Billion annually, of which over 70% is international calling.
The wireless plans offered by Flint will be based on both SIM and CDMA technologies, providing ultimate flexibility in creating innovative products.
Flint expects to bring an innovative new approach by allowing customers to make domestic & international calls at the same rates as calling cards on mobile phones that do not require a credit check and relieve the consumer of the need to dial cumbersome access numbers and codes.
CEO Vincent Browne said today: "We are very excited with this latest development set to enhance our existing product line in the markets we address in the Unites States. When starting out, MVNO companies usually face expensive and time consuming brand building and customer acquisition costs. Our substantial local market knowledge and existing distribution channels will allow us get better and faster results at significantly less costs, giving us greater profit margins. We expect the first handsets to ship in Q4 this year. In addition, based on market research conducted through our existing channels, we believe our target of over 50,000 handset sales by the end of our current fiscal year in June 2011 is fully obtainable. We look forward to our formal launch later in the year."
About Flint Telecom Group, Inc.
Flint Telecom Group Inc. is a fast growing Telecoms Technology Organization with a portfolio of companies that deliver next-generation IP communications Products and Services. The Company was founded by telecom and technology entrepreneurs with a proven track record in building global technology companies. Flint Telecom has grown both organically and through corporate activity and is traded on the OTC Bulletin Board® (OTCBB) under the ticker FLTT.OB. Additional information may be found at www.flinttelecomgroup.com
This press release contains forward-looking statements, which are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "expects," "intends," "believes," and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, and other factors described in the Company's filings with the Securities and Exchange Commission. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
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