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Terrestar Satellite-Terrestial Smartphoned Delivered by Elektrobit.
Elektrobit Inc. and TerreStar Corporation (TerreStar) have inked a frame supply agreement regarding the delivery of satellite-terrestrial smartphones for TerreStar. According to the agreement EB will be responsible for delivering complete products to TerreStar based on the EB-crafted satellite-terrestrial reference device, which includes manufacturing, forward and reverse logistics, and after market services support.
TerreStar informed that it will launch its commercial service with its satellite-terrestrial smartphones next year, and EB has the readiness to start the product delivery accordingly. Actual delivery volumes for the satellite-terrestrial smartphones will depend upon market demand, and thus reliable delivery forecasts can not be provided at this stage.
About Elektrobit
EB develops advanced technology and transforms it into enriching end user experiences. EB specializes in demanding embedded software and hardware solutions for the automotive industry and wireless technologies. The company’s net sales for the year 2008 totaled EUR 172.3 million. Elektrobit Corporation is listed on the NASDAQ OMX Helsinki. www.elektrobit.com
About TerreStar
TerreStar Corporation is the controlling shareholder of TerreStar Networks Inc. and TerreStar Global Ltd. For additional information on TerreStar Corporation, please visit the company’s website at www.terrestarcorp.com.