ZTE's "Grand X" Features Vringo's Facetones™ Among Key
"Out-of-the-Box" Applications
NEW YORK--(BUSINESS WIRE)--Aug. 14, 2012--
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.
About ZTE
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.
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: 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.
Source: Vringo, Inc.
Investors:
Vringo, Inc.
Cliff
Weinstein, 646-532-6777
Executive Vice President
cliff@vringo.com
or
Media:
The
Hodges Partnership
Caroline L. Platt, 804-788-1414
804-317-9061
(m)
cplatt@hodgespart.com