SOURCE: XcelMobility Inc.
REDWOOD CITY, CA--(Marketwire - Nov 1, 2012) - XcelMobility Inc. (OTCBB: XCLL) ("Xcel" or the "Company") a developer of high speed web browsing solutions and related performance enhancing products for mobile devices, is pleased to advise it has signed a contract for the deployment of its advanced LBS (Location Based Service) product through an agreement with the Hubei GIS Center which offers services to many of the over 57 million citizens of the province as well as to numerous enterprise subscribers located both regionally and nationally.
XcelMobility's announcement heralding the delivery of its new Mach5 LBS product for advanced location based applications and services have been positioned as a significant all-new revenue stream for the growing Company. The Mach5 location based service (MLBS) offers developers and businesses a user friendly method to easily add advanced location capabilities to their mobile apps.
The product offers advanced features which clearly position Xcelmobility as a leader in the provisioning of location based services for the rapidly emerging China market. Application developers can quickly add real-time mapping onto an existing or new application in a matter of minutes. Mach5 overcomes difficult and costly development challenges for the implementation of real-time mapping to mobile applications allowing developers to easily deploy advanced geo-location apps for both iPhone and Android phones with ease. This technical advantage is viewed as a major differentiator over current competitors and provides a significant opportunity to obtain meaningful market share.
The Global MLBS Market is a rapidly expanding and exciting sector. The combination of smartphone proliferation, a surge in application storefront launches and new developments in hybrid positioning technologies are expected to help drive revenues from mobile location-based services (MLBS) to more than $12.7 billion by 2014, according to a new report from Juniper Research. XcelMobility has effectively deployed a superior product at the beginning of a growing curve of market opportunity that, if effectively marketed and deployed, is poised to notably increase market position and revenues for the Company and its shareholders alike.
As part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934, further details of the Company's business, finances, appointments and agreements are filed with the Securities and Exchange Commission's ("SEC") EDGAR database. For more information visit: www.xcelmobility.com.
About XcelMobility Inc. (OTCBB: XCLL)
XcelMobility is a US based company focused on the research, development and commercialization of technologies for mobile internet users. The Company develops innovative products which considerably enhance the internet performance of smartphones, tablets and netbooks when connected to cellular carriers. Due to the vast size of the mobile market in Asia and the inherent propensity to connect to the internet using mobile devices, XcelMobility believes that shareholder value is best served by focusing commercialization efforts in the Asian marketplace prior to a product roll out on a global scale. For more information visit: www.xcelmobility.com.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development of new business opportunities, zero operational impact and projected costs, future operations, revenue, profits, gross margins and results of operations. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
On Behalf of the Board,
Ron Strauss, Chairman,