CLST News!!
CellStar Signs New Distribution Agreement With Topp Telecom
CLST.O>
CellStar Signs New Distribution Agreement With Topp Telecom CARROLLTON, Texas, Nov. 12 /PRNewswire/ -- CellStar Corporation (Nasdaq: CLST) today announced that it signed a new three-year agreement to distribute wireless telephones, airtime cards and related accessories for Topp Telecom, Inc., the leading provider of prepaid wireless telephones in the United States. CellStar will also provide value-added services, including customized packaging, returns management and product repair. Key to obtaining the new agreement is CellStar's new Advance Order System(TM) (AOS) and NetXtreme(TM) Inventory Management and Tracking Systems. These internet-based software systems, developed by CellStar, enable Topp and its customers to process orders, replenish inventories, analyze purchasing patterns, and track sales data on a real-time basis. "We believe CellStar's e-commerce tools are a major factor in our ability to provide a high level of service to Topp and its customers," stated Daniel T. Bogar, CellStar senior vice president and president of the Company's Americas Region. "AOS and NetXtreme provide seamless, efficient ordering and inventory management systems that enhance CellStar's ability to provide Topp with high-quality, efficient distribution services." "We're pleased to renew our distribution agreement with CellStar and value our continuing relationship with them," said John Wiesehan, President and COO of Topp Telecom, Inc. "According to the Yankee Group, in the coming year, the U.S. cellular industry is projected to grow 16% and prepaid is the fastest growing segment, projected to grow 76% to 7.6 million subscribers. With Topp being the leading U.S. provider of prepaid cellular phones, our TRACFONE prepaid cellular phone program is poised to grow significantly. We believe CellStar has the expertise and systems in place to meet our full-service distribution needs." Topp Telecom, Inc. is the largest nationwide provider of prepaid wireless communications, with TRACFONE(R), a pay-as-you-go cellular phone service, to anyone, anytime with coverage throughout the United States, Puerto Rico and the Virgin Islands. Topp has licensing agreements to imbed its prepaid technology in Nokia, Motorola, and Uniden handsets. TRACFONE(R) cellular phones and airtime cards are sold at more than 20,000 major retail locations nationwide. For more information on TRACFONE(R), visit their web site at www.topptelecom.com. CellStar Corporation is a global company focused on providing value-added services to wireless carriers and manufacturers in direct relationships. CellStar is one of the largest non-carrier wholesale distributors of wireless handsets for major manufacturers, with operations in North America, Asia- Pacific, Latin America and Europe. For the year ended November 30, 1998, the Company reported sales of approximately $2 billion. Additional information about CellStar may be found on its web site at www.cellstar.com. This press release contains forward-looking statements, as defined in the Private Securities Litigation Reform act of 1995. A variety of risk factors, including changes in foreign laws, regulations and tariffs, new technologies, system implementation difficulties, competition and other risk factors, are discussed in the Company's Annual Report on Form 10-K and most recent Quarterly Report on Form 10-Q, which are on file with the SEC. Any combination of these factors could cause CellStar's actual results to vary materially from anticipated results or other expectations expressed in the Company's forward-looking statements. SOURCE CellStar Corporation -0- 11/12/1999 /CONTACT: Richard M. Gozia, President of CellStar Corporation, 972-466-5031/ /Web site: cellstar.com topptelecom.com -- DAF011 -- 3339 11/12/1999 07:44 EST prnewswire.com Copyright PR Newswire 1998. All rights reserved.
|
