5BARz prepares to rollout Network Extender in India, one of the most significant markets in the wireless industry
San Diego, Mar 4, 2015 - (ACN Newswire) - March 4th, 2015, 5BARz International, Inc. (OTCQB: BARZ), (www.5BARz.com) ("5BARz" or "the Company") a technology leader in the cellular network extender industry, is pleased to announce that the Company has established a subsidiary Company, 5BARz India Private Ltd., in Bangalore, India.
India has approximately 900 million mobile subscribers and is one of the fastest growing telecommunication markets in the world. The need to improve cellular performance throughout India is a major issue for the network operators, while dissatisfaction amongst subscribers has never been higher as evidenced by a recent consumer survey indicating that 40% of subscribers in India are considering switching networks.
5BARz CEO, Daniel Bland stated, "We are very excited that the initial commercialization and product rollout of the 5BARz Network Extender will happen in India. Despite India's 900 million mobile subscribers, we have specifically identified our total addressable market (TAM) as the 45 million high ARPU subscribers in India (expected to grow by 10% in 2015), Optimal performance on all of their mobile devices is a priority to these specific consumers in India." After successful independent field trials of the Network Extender were completed in mid-January, the company entered into an FTA (field trial agreement) with a tier one-network carrier in India. Naresh Soni, 5BARz CTO stated, "We are extremely pleased with the test results and the performance of the Network Extender in the tier one network carrier field trials. Based on the success of the field trials we now are preparing for deployment of our product in the Indian market."
5BARz India is a wholly owned subsidiary of 5BARz and will be licensed the exclusive rights to market and distribute all of 5BARz products throughout India in perpetuity. The subsidiary company will be working with Flextronics, 5BARz strategic manufacturing partner, in India as sales and production requirements expand. We look forward to reporting our progress in the coming weeks and months as this exciting new development unfolds."
For further information about 5Barz International, Inc., visit www.5barz.com, read our SEC filings at http://ir.5barz.com/all-sec-filings and subscribe to Email Alerts at http://ir.5barz.com/email-alerts to receive company news and shareholder updates.
About 5BARz International Inc.
The 5BARz International Inc. business is focused on the global commercialization of a patented product technology branded under the name 5BARz(TM). 5BARz is a cellular network infrastructure device for use in the small office, home or for when users are mobile. 5BARz incorporates a patented technology to create a highly engineered, single-piece, plug'n play unit that strengthens weak cellular signals to deliver high quality signals for voice, data and video reception on cell phones and other cellular equipped devices. 5BARz represents a key solution for cellular network operators in providing clear, high quality signal for their subscribers with a growing need for high quality connectivity. 5BARz International Inc.'s shares are publicly traded on the OTCBB under the ticker symbol BARZ.
Legal Notice Regarding Forward-Looking Statements
The information contained in this release consists of forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Such forward-looking statements involve known and unknown risks and uncertainties, including all business uncertainties relating to product development, marketing, market acceptance, future capital requirements, and competition in general that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
5Barz International, Inc.
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