SinoHub, Inc. (SIHI), Ciao Telecom Form Joint Venture to Tap into Brazilian Mobile Market
SinoHub Inc., an electronics company based in the People’s Republic of China, today announced that it has entered into a joint-venture agreement with Ciao Telecom Inc., a global provider of telecommunications products and services with headquarters in the U.S., to manufacture and market mobile communications devices in Brazil. Brazil is currently one of the largest mobile communication device markets in the world, and continues to increase at an annual growth rate of 14 percent. SinoHub’s main growth driver is its mobile phone manufacturing and distribution division; by tapping into this market, both SinoHub and Ciao Telecom hope to capitalize on…