SHENZHEN, CHINA / ACCESSWIRE / February 12, 2018 / China Information Technology, Inc. (CNIT), a leading provider of internet-based ad distribution and ad display terminal sharing systems in China, announced that it has entered into a contract for the sale of 3,000 CNIT cloud-based elevator ad terminals to be installed in office buildings and residential communities throughout Fujian province, an international shipping intersection in Southeast Asia.
Signed with Fujian Taoping IoT Technology Limited ("Fujian Taoping"), the contract is expected to generate sales and service revenue to CNIT of about $1 million. This is the follow-on contract with Fujian Taoping since the first contract in June 2017. Until now, CNIT and Fujian Taoping have signed two contracts with the total sale of 6,000 CNIT cloud-based ad terminals.
Today's news is the twentieth in a series of announcements since May 2017 on CNIT's sales of its cloud-based ad terminals. Each of the contracts - which range in value from $0.5 to $3 million - is also expected to generate revenue from customers' use of the company's Yunfa advertising distribution system and Taoping ad screen sharing platform.
"The follow-on contract in Fujian is another success following CNIT's $1 million contract in Taizhou this February," said Chairman and CEO Mr. Jianghuai Lin, "It reflects a high market demand as well as a deep market penetration of our cloud-based ad terminal and solution. In addition, we believe that the innovation of Taoping new-media ecosystem will deliver more value to our clients, which in return will greatly accelerate the market expansion for our products ." he added.
Mr. Lin reiterated that by 2018, the Company expects to sell an additional 120,000 cloud-based ad terminals with market penetration in 100 cities with coverage for 200 million people throughout China.
About China Information Technology, Inc.
China Information Technology, Inc. (CNIT) is a leading Internet service company that provides integrated cloud-based solutions enabling innovation and smart living in the fields of new media, elevator safety management, education, etc. Through continuous innovation, CNIT is aiming to leverage its proprietary Cloud-Application-Terminal technology to level the competitive landscape in the new media industry and deliver value for its shareholders, employees, customers, and the community. To learn more, please visit http://www.chinacnit.com.
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SOURCE: China Information Technology, Inc.