Zoom Buys Majority of Portables Unlimited

Zoom acquires Portables Unlimited, the wholesale distributor for T-Mobile USA

October 13, 2011

1 Min Read

BEIJING -- Zoom Technologies, Inc. (Nasdaq:ZOOM), a leading China-based manufacturer of mobile phones and related products, today announced it has signed a definitive agreement to acquire a 55% share of Portables Unlimited LLC ("Portables"), one of the largest exclusive wholesale distributors of T-Mobile products in the United States. Portables has direct access to more than 1,000 retail locations across twenty States selling T-Mobile products, including approximately 100 exclusive T-Mobile carrier locations. This strategic acquisition is the first of its kind for a China-based handset manufacturer to join forces with a US cellular distributor, allowing ZOOM distribution capability in the US market.

Established in 1999 and headquartered in Nanuet, New York where the current management will remain, Portables has grown to become one of T-Mobile's top sellers among its prepaid (Monthly 4G) wholesale distribution channel. Portables' daily interaction with customers can feed the most current market information to ZOOM for fine tuning its products particularly manufactured for the US market. Upon closing of the acquisition, ZOOM will establish its international headquarters in Portables' offices at 136 First Street, Nanuet, New York. "We are so excited about the opportunity to merge with a quality handset manufacturer that will enable Portables additional growth opportunities," said Raj Amar, CEO of Portables.

Zoom Inc.

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