CARROLLTON, Texas, Sept. 8, 2014 /PRNewswire/ -- CExchange, LLC
today announces that SP International, Inc., has acquired thirty
percent (30%) of CExchange through a strategic investment by this
subsidiary of FIH Mobile Limited (FIH).
FIH, listed in Hong Kong
(2038.hk) is the global green handset and wireless communications
manufacturing and service industries leader. FIH is making a
strategic investment in CExchange to gain exposure to the consumer
electronics trade-in, buy back and reverse logistics businesses in
the United States and to
capitalize on the growth of this aspect of the global handset
industry. FIH will leverage CExchange's unique service positioning,
its familiarity with the retail and wireless industries and related
legal and regulatory regimes, its sophisticated pricing mechanism
and information technology systems, as well as its comprehensive
network of resale and distribution channels.
CExchange is the leading provider of consumer electronics
trade-in services in the U.S. retail sector and an expert in
reverse logistics, repair services, asset recovery management, as
well as retail sales representation. It provides services to
the largest US retailers and mass merchants as well as to the
largest regional carriers and retailers representing tens of
thousands of store-fronts. It also provides millions of
trade-in appraisals via its partner's websites.
The combination of CExchange's superior retail system technology
and processes for trade-in, along with its reverse logistics,
refurbishing services, and knowledge of the wireless retail space
alongside FIH's deep global technology capabilities, scale, and
relationships, creates an unmatched suite of services to provide
carriers and retailers with low-cost, high-value and high-velocity
end-to-end solutions including:
- Trade-in
- Repair
- Refurbishing
- Packaging
- Returns Management
- Inventory Management
- Procurement
- Liquidation
"FIH Mobile Limited is excited to enter into the US trade-in and
buy-back industry and we are pleased to be doing this with the
industry leader. Our investment will allow us to take
advantage of our combined resources to help significantly grow the
re-commerce industry and our combined position within this
competitive market place," said FIH Chairman Vincent Tong. "We believe the CExchange
management team and their proven success is a great fit with the
FIH executive team and our combined resources will provide the
ability to deliver value and scale that is unmatched in the global
wireless and retail industry. We're excited to see what we
can do together in the years ahead," said Mr. Tong.
Hunter Howard, President and COO
of CExchange said "earning the trust of FIH, based on their
thorough review of our capabilities, is further validation of our
investments in people, technology, channel networks and operational
processes. Our ISO certifications and R2 certified facility,
end-to-end secure technology, and experienced management team are
the reasons for our success, and we are ready to take our company
to the next level, both in the U.S. and abroad, with the support of
FIH, a recognized global leader."
The two companies will be actively involved with major accounts
and prospective clients at the CTIA show in Las Vegas during the week of September 8th. "We felt that there was
no better time than during the CTIA Super Mobility Week to announce
our new partnership," said Scott
Nordhaus, CEO of CExchange. "We are proud of our
relationship with FIH and look forward to expanding services with
existing accounts, while growing our portfolio of strategic
partners through our combined strengths."
To learn more about the services provided by this new
partnership, please contact Conrad
Huang, Spokesman of FIH, at ConradYTHuang@fih-foxconn.com,
and Bob Kilinski, CMO of CExchange,
at bkilinski@cexchange.com.
CTIA and the CTIA Super Mobility Week are trademarks of CTIA,
The Wireless Association and are neither affiliated with or
endorsing anything included in this press release.
About CExchange
CExchange is the leading provider of retail trade-in and
recycling services. The company provides custom retail
solutions to meet the needs of a diverse set of clients including
several Fortune 500 companies, both online and offline.
CExchange is committed to providing services that help consumers
get maximum value for their used electronics while protecting the
environment through responsible recycling. CExchange has multiple
divisions that provide services which include manufacturer
representation, reverse logistics and refurbishing, resale and
liquidation services.
About SP International, Inc.
SP International, Inc. a wholly owned subsidiary of FIH Mobile
Limited, is incorporated in the US state of Illinois.
About FIH Mobile Limited
FIH (2038.hk) is a leading green manufacturing services provider
offering a comprehensive array of services for leaders in the
handset and wireless communications industries. From product
development and design, to manufacturing and assembly, to
after-sales services and repairs, FIH uses a customer-focused,
highly integrated approach to ensure top-quality execution and
rapid delivery of everything needed for partners to compete in a
rapidly evolving marketplace. FIH employs over 75,000 people
throughout operations spanning Europe, Asia,
and the Americas.
Tom Staszak and Chris Gain with Generational Capital Markets,
Inc., Member FINRA/SIPC, Dallas,
TX, advised CEXchange during the transaction.
Contact: Bob Kilinski,
CExchange: 817-690-6851
bkilinski@cexchange.com
SOURCE CExchange
