modu Secures $38.5 Million Initial Order for its Mobile Phones
Published on: 15th Feb 2009
Note -- this news article is more than a year old.
Israeli handset vendor, modu has announced an exclusive agreement with Lynk Communications to distribute modu phones and modu jackets in the Philippines, with agreements in several other countries in the region to be announced at a later date. An initial order of modu phones and modu jackets, valued in total at $38.5 million, will hit the region beginning in the 2nd quarter 2009.
modu expects to expand to other Asian markets in the coming months.
modu has introduced a tiny modular mobile phone, which holds the Guinness World Records for lightest phone in the world. The concept is to have a core handset unit, which then slots inside user cases to change the design of the handset. In essence, a more sophisticated form of facia change.
"In the mobile industry innovation is the key to success, and modu is a smart choice to help us retain and attract new customers," said Jose M. Gonzales Jr., president of Lynk Communications. "modu is a powerful combination of style and function that can help us give our subscribers a more compelling choice of handset models and styles.
Although the company had secured some USD127 million in funding, it had cut staff numbers by 88 - or around a third of the total - last November.
The firm was founded by Dov Moran, who sold his earlier company, msystems - which invented the USB Flash Drive - to Scandisk for USD1.6 billion.