Retail Innovator Recognizes and Reacts to Significant Opportunity in Transforming Smartphone Industry
SANTA MONICA, CA–(Marketwired – Sep 2, 2015) – To provide Canadian consumers greater access to cell phones and cell phone accessories in an “automated retail platform” environment, U-Vend, Inc. (OTCQB: UVND), a consumer products and technology company that develops, distributes and markets next-generation self-serve electronic kiosks in a variety of retail environments across North America, announced today a technology distribution agreement with Ingram Micro Canada.
Under the new Canadian distribution agreement, Ingram Micro Canada is working closely with VendTel Express (“VendTel”), a recently formed and wholly-owned operating division of U-Vend, to market, sell and support its new line of self-serve kiosks throughout Canada. The new electronic kiosks allow consumers to easily and effortlessly purchase new, brand-name cell phones and cell phone accessories in an automated retail environment. The VendTel kiosks are available in both floor and countertop models, and are designed for use in high traffic locations throughout Canada. The kiosks come equipped with integrated digital screens that will display product information, as well as digital advertising. U-Vend plans to expand the automated retail platform to all of North America in the near future.
“The concept is rather straight-forward,” stated Paul Neelin, COO of U-Vend, Inc. “Customers will have the ability to purchase a wide variety of brand-name cell phones and cell phone accessories, conveniently and at a much lower cost. All of the phones are sold without a SIM card or long-term contract, which empowers the consumer to have their new mobile device activated at a carrier of their choice.”
“We analyzed the market, and the direction that not only consumers are headed, but also the strategy that the smartphone manufacturers are adopting,” stated U-Vend, Inc. CEO Raymond Meyers. “The quality, flexibility, distribution strength and market reach that Ingram Micro Canada brings, coupled with our dynamic self-serve kiosk and digital advertising platform provides the necessary recipe for a successful business model.”
“Selling mobility products and services in non-traditional retail locations will change the buying experience and make it much faster, easier and more affordable for consumers to get the technology they want, when they want it,” said Steven Roberts, vice president of mobility, Ingram Micro Canada. “We are excited to bring U-Vend’s electronic kiosks to the Canadian market and work together to meet the market’s growing demand for mobile technology.”
In addition to generating demand for the new kiosks, U-Vend will provide the professional installation, staff location training, inventory control, reporting, and kiosk maintenance on Ingram Micro Canada’s behalf. U-Vend will manage the integrated digital advertising screens from a central location allowing for scalable operating margins.
In a March 2015 release by Gartner, Inc., the world’s leading information technology research and advisory company, it was reported that smartphone sales totaled 1.2 billion units in 2014, and that smartphone sales represented two-thirds of global phone market in 2014. In addition, worldwide sales of smartphones to end-users had a record fourth quarter in 2014 with an increase of 29.9 percent from the fourth quarter of 2013 to reach 367.5 million units, according to Gartner, Inc.
ABOUT INGRAM MICRO INC. (NYSE: IM)
Ingram Micro helps businesses Realize the Promise of Technology™. It delivers a full spectrum of global technology and supply chain services to businesses around the world. Deep expertise in technology solutions, mobility, cloud, and supply chain solutions enables its business partners to operate efficiently and successfully in the markets they serve. Unrivaled agility, deep market insights and the trust and dependability that come from decades of proven relationships, set Ingram Micro apart and ahead. More at www.ingrammicro.com
ABOUT U-VEND, INC.
U-Vend, Inc., located in Santa Monica, CA, is a consumer products and automated retailing company specializing in the creation, marketing and sales of unique ice cream and related food products which are distributed to the retail markets utilizing various “next-generation” self-serve electronic kiosks throughout North America. The Company owns and operates kiosks and has partnered with numerous national consumer product companies to deliver new and innovative customer retail experiences in automated “frictionless” settings. For more information on U-Vend, visit www.u-vend.com or call (855) 55-UVEND.
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FORWARD LOOKING STATEMENTS
Certain statements contained in this news release regarding matters that are not historical facts may be forward-looking statements. Because such forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, uncertainties pertaining to market acceptance for the Company’s products and services, its ability to succeed in increasing revenues in the near term to attain profitable operations and generate sufficient cash flow from operations, the effect of new competitors in its markets, its integration of acquired businesses, and other risk factors identified from time to time in its filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and current reports on Form 8-K which are available at the SEC’s website www.sec.gov. Other factors not currently anticipated may also materially and adversely affect U-Vend’s results of operations, financial position, and cash flows. There can be no assurance that future results will meet expectations. While the Company believes that the forward-looking statements in this news release are reasonable, the reader should not place undue reliance on any forward-looking statement. In addition, these statements speak only as of the date made. The Company does not undertake, and expressly disclaims any obligation to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.