"I have no intention of selling the company, and the venture capital funds that invested in it know that. My goal is to set up an Israeli company that employs thousands of workers and exports to the whole world, and has an impact on the global industry, Modu founder and CEO Dov Moran told "Globes" in advance of the GSMA Mobile World Congress in Barcelona.
"It's terribly arrogant to say we want to set up the Israeli Nokia Nokia has sales of $70 billion, and if we reach $1 billion, that will be a crazy achievement."
According to Moran, in contrast to last year, Modu is coming to the congress with models that work and are ready for production. "In the past few months we have received fantastic feedback, and we have improved the product, which is a light, attractive mobile telephone.
On collaboration with Israeli mobile telephony carrier Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL), Moran says that "Cellcom will be the first company in the world to launch the product, because my wish is that in Israel, Modu's home base, people will be able to feel the product and experience it before it reaches the rest of the world."
Israeli company Modu has declared that it makes the lightest mobile telephone in the world. Its handset is modular, and its design and features can be changed by fitting into other dedicated devices. In the lead-up to the congress, Modu has unveiled a series of new models that will start to be sold this year. At the congress, Modu will announce new marketing and distribution agreements that it has signed, and five "modu jackets" that will be unveiled in the second quarter. Modu's mobile handset is competing in the Mobile Innovation competition at the congress, and has reached the final stages.
Published by Globes [online], Israel business news - www.globes.co.il - on February 11, 2009
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