NEW YORK, March 22, 2012 /PRNewswire/ -- Vringo, Inc. (NYSE Amex: VRNG), a provider of software platforms for mobile social and video applications, today announced that, through its content and services collaboration with Hungama Digital Media Entertainment, it has launched its video ringtone service with Tata DOCOMO, the fastest growing telecom service provider in India's history.
Tata DOCOMO was the first operator to launch Vringo's video ringtone service for its strong GSM subscriber base in India across 18 Circles. Under the new agreement with Tata DOCOMO, Vringo's video ringtone service will be made available to its GSM subscribers in India for 1 rupee per day, or approximately $0.80 per month. Vringo's video ringtone software is designed to allow users to create, download and share high-quality mobile video content that is specific to various regions of the world.
"We are pleased to be working with Tata DOCOMO as we bring our exciting video ringtone software to the mobile market in India," said Andrew Perlman, Vringo's CEO. "We are strengthening our relationships around the region due to the sizable market opportunities of the fast-growing mobile user base in South Asia."
Hungama, which distributes the Vringo service in India, made the introductions between Vringo and Tata DOCOMO. Hungama is the largest source of digitally available Bollywood and South-Asian entertainment content in the world. Vringo is adding premium content from Hungama to its video ringtone content library and is sharing revenues from the content with Hungama, which has strong relationships with all the Indian cellular operators.
"We are excited to bring Vringo's innovative video ringtone technology to all the service providers in India. The Indian mobile industry is at an inflection point and services such as these will become popular as all the Indian mobile service providers will offer better infrastructure and data speeds to their subscribers in the next 12 to 18 months," said Neeraj Roy, MD and CEO, Hungama. "This new partnership will leverage our powerful content and bring it directly to the millions of fans of Bollywood content throughout the region."
Mr. Gurinder Singh Sandhu, Head Marketing, Tata Teleservices Limited said, "Vringo is a key innovator in the mobile social and video arena, so we couldn't be more excited to work together on an innovative mobile video ringtone service that leverages our powerful mobile network in India. We believe the Vringo service, with the customized Indian content by Hungama will have mass appeal throughout India, especially amongst our growing network of high-speed 3G subscribers."
Tata Teleservices Limited is one of India's leading private telecom service providers, having a pan-India presence across all of India's 22 telecom Circles. The company offers integrated telecom solutions to its customers under the unified brand name Tata DOCOMO and operates its wireless networks on GSM, CDMA and 3G technology platforms. Tata Teleservices Limited, along with Tata Teleservices (Maharashtra) Limited, operates in more than 450,000 towns and villages across the country, serving over 85 million subscribers. After its collaboration with Japan's NTT DOCOMO in November 2008, Tata Teleservices launched 2G GSM services under the Tata DOCOMO brand name in all the 18 telecom Circles where it received spectrum from the Government of India, in June 2009. Since then, the company has established a strong brand connect for Tata DOCOMO in India and has been at the forefront of redefining the telecom experience in India, launching innovative products and services that have impacted Indian consumer lifestyles. TTL is the clear market leader in the enterprise space as well, and has market leadership in many product lines, such as mobile broadband with the photon family of wireless access devices. TTL's bouquet of telephony services includes mobile services, wireless desktop phones, public booth telephony and wireline services.
About Vringo, Inc.
Vringo (NYSE Amex: VRNG) is a provider of software platforms for mobile social and video applications. With its award-winning video ringtone application and other mobile software platforms, including Facetones™, Video Remix and Fan Loyalty, Vringo transforms the basic act of making and receiving mobile phone calls into a highly visual, social experience.
Vringo recently announced that it had entered into a definitive merger agreement with Innovate/Protect, Inc., a company that holds eight patents acquired from Lycos, Inc.
Vringo's video ringtone service enables users to create or take video, images and slideshows from virtually anywhere and turn it into their visual call signature. In a first for the mobile industry, Vringo has introduced its patented VringForward technology, which allows users to share video clips with friends with a simple call. Vringo's Facetones™ application creates an automated video slideshow using friends' photos from social media web sites, which is played each time a user communicates with a friend using a mobile device. Vringo's Video ReMix application, in partnership with music artists and brands, allows users to create their own music video by tapping on a Smartphone or tablet. Fan Loyalty is a platform that lets users interact, vote and communicate with contestants in reality TV series with which Vringo partners, as well as downloading and setting clips from such shows as video ringtones. Vringo's video ringtone application has been heralded by The New York Times as "the next big thing in ringtones" and USA Today said it has "to be seen to be believed." For more information, visit: www.vringoip.com and www.vringoinc.com
About Innovate/Protect Inc.
Innovate/Protect Inc. is an intellectual property firm founded in 2011 whose wholly-owned subsidiary, I/P Engine, holds eight patents that were acquired from Lycos Inc.
Forward-Looking Statements
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: our ability to complete our previously announced proposed merger with Innovate/Protect, Inc., our ability to raise capital to fund our operations, the continued listing of our securities on the NYSE Amex, market acceptance of our products, our ability to protect our intellectual property rights, competition from other providers and products and other factors discussed from time to time in our filings with the Securities and Exchange Commission. 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.
Contacts:
Investors:
Cliff Weinstein
Chief Communications Officer
Vringo, Inc
646-532-6777
cliff@vringo.com
Media:
Caroline L. Platt
The Hodges Partnership
804-788-1414 (o)
804-317-9061 (m)
cplatt@hodgespart.com
SOURCE Vringo, Inc.
