BEIJING, Feb. 12 /Xinhua-PRNewswire/ -- e-Future Information Technology Inc. (Nasdaq: EFUT) ("e-Future"), a leading supply chain management software and services provider in China, announced today that Samsung Networks China, a global provider of network and telecommunications solutions, selected e-Future to provide mobile point-of-sale ("POS") solutions and services for retailers in China.
According to the agreement, e-Future will develop POS solutions and services based on Samsung Networks's line of mobile POS equipment and devices. This partnership will result in a widespread rollout of mobile POS systems for retailers in China. e-Future plans to introduce the solution from Samsung Networks to e-Future's current base of retail clients, with a focus on e-Future's top 100 department store and specialty store clients.
Using the mobile POS solution developed by Samsung Networks and e-Future, consumers in retail stores can check out with a POS device anywhere in the store without having to wait in checkout lines at the cashier. Using wireless connectivity, mobile POS decreases customer lines and operating costs, while increasing inventory turnover and employee productivity. This mobile POS solution has replaced previous ‘desktop-type fixed POS' terminals in all major department stores in Korea since 2002.
Mr. Adam Yan, Chairman and CEO of e-Future, said, "We envision that Samsung Networks's mobile POS will revolutionize the customer's retail shopping experience in the same way that mobile technology revolutionized communications. Samsung Networks's expertise in POS technologies, combined with e-Future's expertise in the Chinese retail market and proven commitment to delivering value to clients, will transform the retail industry in China. We expect to see a significant increase in mobile POS adoption in China following the development of mobile POS with Samsung Networks."
"Samsung Networks is excited to offer the latest equipment and devices to the Chinese market in partnership with e-Future," said Mr. Lee, President of Samsung Networks China. "Mobile POS will play an important role in advancing China's retail industry, and Samsung Networks is very proud to be a contributor to the Chinese market."
Mobile POS service was first commercialized in the Korean market starting in 2002 and has shown significant growth and expansion in Korea since then. Samsung Networks would like to introduce that kinds of products to China which had been setup for over 20,000 terminals and has 95% of the market share in Korea.
About e-Future Information Technology
e-Future is a leading provider of integrated software and professional services for manufacturers, distributors, wholesalers, logistics companies and retailers in China's supply chain market. e-Future's customers are centered in the retail, automotive, general household appliance and consumer goods industries. Its solutions are specifically designed to optimize demand processes from finished goods to customer checkout and to address supply chain management, business processes, decision support, inventory optimization, collaborative planning and forecasting requirements. e-Future's software solutions business is enhanced and supported by its consulting services and ongoing maintenance on existing software installations.
e-Future provides software products and services to over 300 retailers and Fortune 500 companies from across the world that are doing business in China. Clients include Proctor & Gamble, the Chang'an Motors and Ford Motors joint venture and other large companies operating in China's domestic markets, such as Gucci, Panric, Haier, Suning, Parkson, Sogo, Wangfujing, Homeway (acquired by Home Depot), Orient Home, China duty-free stores and AYAYA.
About Samsung Networks
Samsung Networks, a Samsung group's affiliated company, is a network based comprehensive information communication servicing company. 64 domestic cities and 70 countries worldwide are united into one Samsung network infrastructure. Having 20 years of network servicing know-how and with class-leading professionals and technicians, the company offers "the optimum IT solution" for enterprises and government.
For more information please refer to: http://www.samsungnetworks.net
CAUTIONARY STATEMENT WITH RESPECT TO FORWARD-LOOKING STATEMENTS
This document may contain certain forward-looking information about e-Future that are intended to be covered by the safe harbor for "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995 and any other similar laws that may apply. Readers are cautioned not to place undue reliance on these forward-looking statements because they speak only as of the date on which they were made. These forward-looking statements include, but are not limited to, the anticipated adoption of mobile POS solutions and services by the Chinese market.
e-Future does not undertake any obligation to republish revised forward-looking statements to reflect events or circumstances after the date of these forward-looking statements or to reflect the occurrence of unanticipated events. Readers are also urged to carefully review and consider the various disclosures in e-Future's various SEC reports, including, but not limited to, its Annual Report on Form 20-F for the year ended December 31, 2005.
For more information about e-Future, please visit http://www.e-future.com.cn English channel.
