U.S. Markets close in 1 hr 21 mins

BLU Products announces Strategic Initiative to Develop Smartphone Devices with Foxconn

MIAMI, March 5, 2020 /PRNewswire/ -- BLU Products, a leader in unlocked smartphone devices in the United States and Latin America, announced today a strategic initiative to develop the next generation of BLU smartphone devices with Foxconn (FIH Mobile), the foremost smartphone design, manufacturing and technological solution provider in the world.

The initiative will greatly enhance BLU's future product offering, by securing a talented and dedicated R&D team under BLU's guidance to maximize software and hardware performance, bringing world class user experience to BLU smartphone devices. Additionally, the initiative will secure a reliable and top-tier smartphone component supply chain, and guarantee manufacturing capacity at state-of-the-art FIH factory facilities including India, Vietnam, and Taiwan to meet BLU production demands.

"As BLU aims for growth, particularly targeting US Carrier business, we recognize the technical expertise FIH provides in terms of quality, engineering, and manufacturing thus by greatly improving our product offering to consumers." said Samuel Ohev-Zion CEO of BLU Products. "Our plan is to immediately launch new smartphone devices co-developed with FIH for both US Carrier and Unlocked Retail customers by Q3 of 2020."

The initial strategy will be for all US Carrier projects to be built entirely by FIH while BLU Unlocked Retail and Global device launches will be determined on a case-by-case basis, and gradually increase to a higher participation of BLU's complete device roadmap over time.

The main objective of the initiative will be to grow through US Carrier channels by bringing the best in class features, design, and performance at affordable price points, with a focus in the sub $250 smartphone segment which represents approximately 40% of the entire US market, or 70 million devices per year. The first BLU carrier device the BLU VIEW 1 launched in 2019 with Tracfone, with additional carrier devices launching in 2020.

"BLU has brand value, nationwide retail channel presence and brand recognition in the US, which gives us tremendous potential for growth within the US Carrier Channel." Ohev-Zion said further. " In addition, we have a very talented team with unique entrepreneurial passion, experience, and competence to bring about meaningful and differentiated products to the market."

About BLU Products

BLU Products is an American company is headquartered in Miami, FL which designs and manufacturers affordable, attractive and innovative mobile devices focusing on fulfilling the needs of the everyday person. BLU is a pioneer in the advancement of the no-contract revolution, giving consumers a choice between network providers. With distribution centers in both Miami and Hong Kong, BLU offers a vast portfolio of unlocked mobile phones to thousands of dealer agents, distributors, MVNO's, and retailers globally. With an emphasis on giving what today's mobile users need, and always launching new models, BLU successfully gives consumers what they are looking for in a mobile device at an affordable price without sacrificing fashion, design and quality. BLU continues growing at a rapid pace fueling passionate followers and fans throughout the world.

BLU Products Media Relations:
(305) 715 7171
media@bluproducts.com

Cision

View original content:http://www.prnewswire.com/news-releases/blu-products-announces-strategic-initiative-to-develop-smartphone-devices-with-foxconn-301018642.html

SOURCE BLU Products