Vringo, Inc. (NYSE MKT: VRNG), a company engaged in the innovation, development and monetization of mobile technologies and intellectual property, today announced the launch of its preloaded Facetones™ product on the Grand X, the latest Android mobile device released by the ZTE Corporation (H share stock code: 0763.HK / A share stock code: 000063.SZ), the largest handset maker in China and fourth-largest globally. These handsets are on sale in UK, Turkey and some Asian countries.
Vringo's Facetones™ mobile application integrates with Facebook® and provides a new way to get automatic, visually exciting social content each time a user makes or receives a phone call or text message. Vringo's technology is one of the first mobile social experiences being embedded on select Android mobile handsets manufactured by ZTE and immediately available to consumers when they start using their new phones.
"Our partnership with ZTE, and the launch of the Grand X featuring Facetones™ as an embedded product, introduces an exciting new era for Vringo," said Andrew Perlman, Chief Executive Officer of Vringo. "Making Facetones™ available as a preloaded offering is the most effective way to reach our prospective customers and helps drive the virality of our apps. Additionally, licensing preinstalled software represents an important model for monetizing our mobile social applications."
"We are pleased to be the first to provide consumers with the unique out-of-the-box experience that Vringo's new Facetones™ application offers," said Ao Wen, Deputy GM in charge of Europe Handset Business. "The Grand X provides a high-end experience for young, cost-conscious consumers, and Facetones™ enhances the value to our target audience with a cool social call experience from the first time you turn on the phone."
"We've embraced the increasing demand for innovation and differentiation in a highly competitive mobile market," said Josh Wolff, Senior Vice President for Partner Solutions at Vringo. "Our latest launch in cooperation with ZTE is not only a proud business milestone but also a powerful demonstration of our ability to achieve and accelerate product realization on a global scale. Bringing our world-class technology and customized solutions to leading handset manufacturers remains a primary strategic goal for Vringo in the years ahead."
According to IDC's Worldwide Quarterly Mobile Phone Tracker report, ZTE shipped eight million smartphones in the second quarter of 2012, climbing into the global top five of smartphone manufacturers, and maintained its No. 4 ranking for overall handset shipments. The ZTE Grand X combines an NVIDIA Tegra 2 dual-core chipset with Android 4.0 (Ice Cream Sandwich) to deliver a rich mobile multimedia experience. The powerful processor delivers fast download speeds and video processing and enables the Grand X to provide a compelling mobile entertainment experience. The smartphone also allows users to capture, play and share content using the HD video capability.
Facetones™ is a trademark of Vringo, Inc. and is not sponsored or endorsed by Facebook®. Facebook® is not affiliated with Vringo, Inc.
ZTE is a publicly-listed global provider of telecommunications equipment and network solutions with the most comprehensive product range covering virtually every telecommunications sector, including wireless, access & bearer, VAS, terminals and professional services. The company delivers innovative, custom-made products and services to over 500 operators in more than 140 countries, helping them to meet the changing needs of their customers while growing revenue. In 2011, ZTE's revenue increased by 29 per cent to USD 13.7 billion. Its overseas operating revenue grew 30 per cent to USD 7.4 billion during the period, accounting for 54.2 per cent of overall operating revenue. ZTE commits 10 per cent of its annual revenue to research and development and has leadership roles in several international bodies devoted to developing telecommunications industry standards. ZTE is committed to corporate social responsibility and is a member of the UN Global Compact. The company is China's only listed telecom manufacturer that is publicly traded on both the Hong Kong and Shenzhen Stock Exchanges (H share stock code: 0763.HK / A share stock code: 000063.SZ). For more information, please visit www.zte.com.cn.
About Vringo, Inc.
Vringo, Inc. is engaged in the innovation, development and monetization of mobile technologies and intellectual property. Vringo's intellectual property portfolio consists of over 500 patents and patent applications covering telecom infrastructure, internet search, and mobile technologies. The patents and patent applications have been developed internally, and acquired from Lycos, Inc. and Nokia Corporation. Vringo operates a global platform for the distribution of mobile social applications and services including Facetones® and Video Ringtones which transform the basic act of making and receiving mobile phone calls into a highly visual, social experience. For more information, visit: www.vringoIP.com.
This press release includes forward-looking statements, which may be identified by words such as "believes," "expects," "anticipates," "estimates," "projects," "intends," "should," "seeks," "future," "continue," or the negative of such terms, or other comparable terminology. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein. Factors that could cause actual results to differ materially include, but are not limited to: the inability to realize the potential value created by the merger with Innovate/Protect for our stockholders; our inability to raise additional capital to fund our combined operations and business plan; our inability to monetize and recoup our investment with respect to patent assets that we acquire; our inability to maintain the listing of our securities on the NYSE MKT; the potential lack of market acceptance of our products; our inability to protect our intellectual property rights; potential competition from other providers and products; our inability to license and monetize the patents owned by Innovate/Protect, including the outcome of the litigation against online search firms and other companies; our inability to monetize and recoup our investment with respect to patent assets that we acquire; and other risks and uncertainties and other factors discussed from time to time in our filings with the Securities and Exchange Commission ("SEC"). Investors and stockholders are also urged to read the risk factors set forth in the definitive proxy statement/prospectus filed with the SEC on June 21, 2012. Vringo expressly disclaims any obligation to publicly update any forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required by law.