HONG KONG and TORONTO, Nov. 19, 2012 (GLOBE NEWSWIRE) -- Star8 Corporation (STRH:OTCMarkets), a provider of low cost mobile smart phones and related accessories to emerging markets, is pleased to report that for the quarter ended September 30, 2012, revenue generated for the three month period was $1,424,711. This is an increase over the last quarter of 38% and a total for the year of $2,458,775.
"We are pleased that in the third quarter, we have managed to build on the results of our previous quarter," said William Car, President of Star8 Corporation. "We will continue to work to expand the foundation of business we have created and grow our company for the long term."
In April of this year, Star8 completed a definitive agreement that expanded the company's operation to Hong Kong. Since that time, the company created a wholly owned subsidiary in Hong Kong and began operations soon after. The revenue for the previous two quarter was primarily generated through the wholly owned subsidiary in Hong Kong.
Star8 will continue to provide updates on corporate milestones on a regular basis via press release or for more information on Star8 and our products, please go to www.star8corp.com and follow us on Twitter at @star8axiom
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".
This document may contain forward-looking statements, relating to Star8 Corporation operations or to the environment in which it operates, 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.
CONTACT: For Investors: William Car President, Star8 Corporation firstname.lastname@example.orgSource:Star8 Corporation