HONG KONG and TORONTO, Jan. 2, 2013 (GLOBE NEWSWIRE) -- Star8 Corporation, (STRH:OTCMarkets) a provider of low cost mobile smart phones and related accessories to emerging markets, is pleased to provide shareholders with an update on its business.
For Star8, 2012 was a turning point in the Company's evolution. Over the past year, Star8 accomplished a number of successful initiatives to expand the business and grow the Company.
Earlier in the year, Star8 established a wholly owned subsidiary in Hong Kong and expanded its Board of Directors and Executive Management team as part of a definitive agreement completed in April of 2012.
The Company also began to generate substantial revenue during 2012 and expects to continue to increase revenues in 2013. Star8 expects to complete its annual report for 2012 in February 2013.
For 2013, Star8 will continue to press forward on expanding its business through internal growth and will also begin exploring any potential acquisition targets that would bring additional value to the Company.
For more information on Star8 and our products, please visit www.star8corp.com
About Star8 Corporation
Star8 Corporation (OTCMarkets:STRH) is a global provider of low cost full-featured mobile email phones and mobile phone related accessories. The Company's focus is to provide a low cost alternative to the more expensive smart phones available in the market today. Star8 is strictly focused on emerging markets where the mobile operator subscriber base is predominantly prepaid. These markets do not provide their subscribers with a subsidy on phone purchases, which leaves a very small percentage of the subscriber base with the ability to afford the more costly smart phones.
Star8 is positioning itself to take advantage of the explosive growth in the Low Cost Mobile Messaging Handset market. Global shipments of mobile handsets are forecast to be close to 2 Billion in 2012.
Star8 is poised to take advantage of the tremendous growth in these markets and its products will be marketed to mobile users in South East Asia, Africa, the Middle East and Latin America through existing relationships.
With management experience garnered on a global basis, Star8 has uncovered an opportunity to market a mobile handset in conjunction with a mobile email product in markets where the subscriber base in highly weighted by subscribers who are "prepaid".
Forward-Looking Statements
This document may contain forward-looking statements, relating to Star8 Corporation operations or to the environment in which it operates, including those regarding Star8's preliminary revenue and expectations for the fourth quarter of 2012, which are based on Star8 Corporations operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond Star8 Corporations control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. Star8 Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.