SOURCE: XcelMobility Inc.
REDWOOD CITY, CA--(Marketwire - Jul 2, 2012) - XcelMobility Inc. (OTCBB: XCLL) ("Xcel" or the "Company"), a developer of high speed web browsing solutions and related performance enhancing products for mobile devices, is extremely pleased to announce the achievement of over 1.5 million subscribers in Asia.
XcelMobility is currently deriving revenue from the sale of licensing agreements and is increasing its revenues by expanding marketing efforts to broaden its product offering to include software sales directly to mobile device manufacturers and to provide application sales and enhanced products directly to consumers. The Company is dedicated to the introduction of new high speed products to the immense Asian market as the extraordinary proliferation of users within the market predominantly access the internet and social media through mobile devices offering an immense hunger for products that improve the end user experience.
Xcel's marquee product is the Mach 5 "Xcelerator" which provides the fastest browsing experience available for mobile phones, tablet PCs and laptops. The Mach 5 browser has been tested by some of the world's largest cellular carriers and manufacturers (ZTE, China Unicom, Softbank and SK Telecom) and they have all independently verified that Mach 5 provides 5 to 10 times faster access to the internet than standard web browsers. Mach 5 enables users to load applications, videos and web pages faster than ever.
Ryan Ge, CEO of XcelMobility, comments, "We are very pleased to see that our subscriber base continues to grow as customers continually refer Mach 5 to their friends. The 1.5 million customers currently enjoy using Mach 5 as part of an ongoing trial opportunity. The Company is utilizing this limited time trial option as a means to test the product and to obtain usage metrics. We are particularly satisfied about our retention rate as we are experiencing less than a 5% termination rate on an annual basis. Our experience in Asia is calculated to provide valuable experience in preparation for our entry into the US market."
As part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934, further details of the Company's business, finances, appointments and agreements are filed with the Securities and Exchange Commission's ("SEC") EDGAR database. For more information visit: www.xcelmobility.com.
About XcelMobility Inc. (OTCBB: XCLL)
XcelMobility is a US based company focused on the research, development and commercialization of technologies for mobile internet users. The Company develops innovative products which considerably enhance the internet performance of smartphones, tablets and netbooks when connected to cellular carriers. Due to the vast size of the mobile market in Asia and the inherent propensity to connect to the internet using mobile devices, XcelMobility believes that shareholder value is best served by focusing commercialization efforts in the Asian marketplace prior to a product roll out on a global scale. For more information visit: www.xcelmobility.com.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development of new business opportunities, zero operational impact and projected costs, future operations, revenue, profits, gross margins and results of operations. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
On Behalf of the Board,
Ron Strauss, Chairman,