SHENZHEN, CHINA / ACCESSWIRE / November 28, 2016 / China Information Technology, Inc. (CNIT), a provider of cloud-app technologies for Internet-of-Things (IoT) platforms, digital ad delivery and other internet-based information distribution systems, today said it has signed a contract with Shenzhen Smart Elevator IoT Co., Ltd., a joint venture 10 percent owned by CNIT, for the sale of 50,000 sets of CNIT elevator IoT products. The parties also agreed to work together to reach an agreement for the sale of 10,000 CNIT cloud-based elevator ad terminals with built-in IoT capability.
The equipment is expected to be installed over the next year in Tianjian Municipality and Guangdong Province. CNIT will receive revenue on this sale as well as additional revenue expected to result from its Yunfa Net ad content delivery, IoT-based elevator maintenance and other big data services.
"We are excited to participate in yet another joint venture vehicle with which to market our IoT and cloud-based products," said CEO and chairman Mr. Jianghuai Lin. "We believe today's agreement will significantly increase CNIT's nationwide footprint for these popular products and services."
"Revenue received via these Joint Venture alliances will help us turn the corner to profitability, we believe, by the middle of 2017," said the CEO.
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, city 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.