Company Reaches New Level of Growth as It Leads Initiative to Introduce the First Location-Based Wearable Computing Smartwatch Tailored for the China Market
REDWOOD CITY, CA--(Marketwired - Jul 22, 2013) - XcelMobility Inc. (OTCQB: XCLL) (OTCBB: XCLL) ("Xcel" or the "Company"), a leading developer of mobile internet products and services, announced today that it has signed an agreement with three major players in China's mobile technology market in order to introduce the next-generation of LBS mobile devices. The three companies that Xcel will be working with include:
Tianditu Ltd., http://en.tianditu.com/map/index.html, is China's exclusive, government-sanctioned web-mapping service and controls the country's most detailed and up-to-date mapping data online and in real-time. Its space location and position data is required to build location-enabled applications and services for the China market. Tianditu's unmatched database of geographic information and position as one of the today's most visited web portals in China, makes it a critical component of the consortium as its data is vital to the LBS solution.
NingBo BoYan Software Technologies Ltd., http://www.internetanswer.com/, is the developer of RVSP, an intelligent personal assistant and knowledge navigator which utilizes a natural language user interface to answer questions, make recommendations, and perform actions by delegating requests to a set of Web services. Today, RSVP is the only system that has both English and Chinese natural language search capability. The RSVP voice actuated system will be incorporated into the LBS technology and will function similarly to "SIRI."
UMEOX Mobile Ltd., http://www.umeox.com/index.php, is a leading international mobile phone manufacturer with over 1,000 employees located in Shenzhen, China. The company has delivered over 20 million mobile devices to the largest mobile distributors in China and is working on numerous projects related to wearable computing. UMEOX will work closely with Xcelmobity integrating the technologies from each partner onto the next generation wearable computing device.
XcelMobility will provide the overall management and marketing of the LBS-device initiative and will develop the application programming interface utilizing its patented mobile location-based tracking service for smartphones. The Company is currently leading the development and roll-out of the consortium's first LBS product, a location-based wearable computing smart watch. As projected by Juniper, these devices have the potential to bring in $1.5 billion in 2014. XcelMobility expects to have a beta-version of its smart watch in place before the end of the year.
Ron Strauss, Executive Chairman of the Board of XcelMobility, Inc., commented, "In the past year, we have dedicated our efforts towards the creation of superior LBS platform, as we believe the future in mobile computing lies within the ongoing development and convergence of LBS solutions and mobile devices. We are pleased with our success in producing the next-generation of LBS technology as we can now play a leading role in the wearable computing world, which is expected to be the next frontier of mobile computing."
Strauss continued, "Our strategic collaboration with the other mobile technology leaders offers the potential to change the entire landscape of wearable computing in China. It takes a strong team of engineers, technology leaders and key relationships to effectively transform the way a country communicates. We are excited to move forward with this consortium as we begin to introduce these new revolutionary technologies."
About XcelMobility, Inc.
XcelMobility is a leading developer of mobile internet products and services, specifically focused on China's burgeoning mobile market of well over 1 Billion Users. The Company has recently reorganized into two divisions including:
1. Mach5 Portal Group - operates an online product portal, www.mach5.cn, providing home grown and 3rd party mobile apps and services in China.
2. LBS Product Group - Combining the recently acquired Jifu engineering team and technologies with Xcel's LBS team this group is developing leading edge LBS and wearable computing products.
With the introduction of the Mach5 LBS, Xcel has become the leader in providing location-based services for China's mobile market as it offers developers an easy and efficient means for incorporating real-time mapping to mobile applications.
The combination of smartphone proliferation, a surge in application storefront launches and new developments in hybrid positioning technologies are expected to help drive revenues from mobile location-based services (MLBS) around the world to more than $12.7 billion by 2014 (Juniper Research). Through the Company's deep relationships with China's leading mobile operators and its ability to incorporate today's most interactive and technologically advanced social and gaming applications to its suite of mobile internet products and services, it is rapidly securing a leadership position in China's mobile market. For more information visit: www.xcelmobility.com.
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