INDIANAPOLIS, Sept. 22, 2010 (GLOBE NEWSWIRE) -- Brightpoint, Inc. (Nasdaq:CELL) today announced that its subsidiary Brightpoint Europe A/S ("Brightpoint") has entered into an agreement with Flipswap, Inc. ("Flipswap") to offer cell phone trade-in and recycling service to Brightpoint customers throughout 26 European countries. The agreement also allows Brightpoint to perform a variety of supply chain services for Flipswap including cell phone retrieval, inbound receipt and inspections, and picking, packing and shipping of devices.
"We are excited to offer this service to our European customers," said Anurag Gupta, President of Brightpoint Europe, Middle East and Africa. "By utilizing our existing distribution channels and efficient supply chain service infrastructure and capabilities Flipswap will be able to greatly expand their recycling efforts. This agreement reinforces our commitment to both community and the environment."
"We are truly excited to be working with Brightpoint to extend Flipswap's services into Europe," said Sohrob C. Farudi, co-founder and General Manager of Flipswap EMEA. "Their unique combination of local market knowledge, supply chain services, and extensive relationships with network operators, retailers, and device manufacturers will allow us to execute our go-to market strategy in just a few months instead of a few years. In addition, their stellar reputation will immediately provide us with the credibility we need to be successful with our international expansion."
Flipswap is the global leader in consumer electronics (CE) buyback programs and is committed to reducing eWaste globally. The Company acquires CE devices in order to resell or recycle them in an environmentally-friendly manner. They do this to extend the lifespan for electronics that are still usable, and provide fully functional used alternatives to consumers around the world. By trading-in used devices, end-users are given a discount on the purchase of a new device. Resellers are then able to generate additional in-store traffic and sales. This element is appealing to manufacturers who can create campaigns in connection with new device launches, adding an additional subsidy to the trade-in value of the old device should the end-user choose to buy one of their products. Flipswap has created a unique method of collecting CE devices by partnering with a wide array of retailers, e-tailers, device manufacturers and websites. Launched in 2005, Flipswap manages over 2.5 million device buyback transactions annually.
For more information on Flipswap, see .
About Brightpoint, Inc.
Brightpoint, Inc. (Nasdaq:CELL) is a global leader in providing supply chain solutions to leading stakeholders in the wireless industry. In 2009, Brightpoint handled approximately 84 million wireless devices globally. Brightpoint's innovative services include distribution channel management, procurement, inventory management, software loading, kitting and customized packaging, fulfillment, product customization, eBusiness solutions, and other outsourced services that integrate seamlessly with its customers. Brightpoint's effective and efficient platform allows its customers to benefit from quickly deployed, flexible, and cost effective solutions. The company has approximately 2,700 employees in more than 25 countries. In 2009, Brightpoint generated revenue of $3.2 billion. Brightpoint provides distribution and customized services to more than 25,000 B2B customers worldwide. Additional information about Brightpoint can be found on its website at , or by calling its toll-free Information and Investor Relations line at 877-IIR-CELL (877-447-2355).
Certain information in this press release may contain forward-looking statements regarding future events or the future performance of Brightpoint. These statements are only predictions and actual events or results may differ materially. Please refer to the documents Brightpoint files, from time to time, with the Securities and Exchange Commission, including Brightpoint's most recent Form 10-K and Form 10-Q and Exhibit 99.1, thereto. These documents contain and identify important risk factors that could cause the actual results to differ materially from those contained in or implied by these forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date these statements were made. Brightpoint undertakes no obligation to update any forward-looking statements contained in this press release.
CONTACT: Brightpoint, Inc. Anthony Boor 317-707-2355