“This transaction represents a pivotal moment for the company,” said Nik Raman, CEO of PhoneX Holdings. “We’re proud of what we’ve built at We Sell Cellular, but this is the right time to shift our focus to scaling our software platform and driving product innovation.”
Following the sale, PhoneX Holdings will concentrate on accelerating the growth of its cloud-based SaaS platform, including PhoneX Connect—an enterprise solution that enables carriers, manufacturers, and large suppliers to sell devices to a global network of professional buyers. The company will also invest in developing new software products and other technologies designed to support the growing circular mobile economy. As part of this strategic focus, PhoneX sees significant opportunities for future technology collaboration with ITOCHU, one of the most prominent players in the industry.
About PhoneX Holdings, Inc.
PhoneX Holdings, Inc. is a technology company powering the global wholesale trade of pre-owned mobile devices. Its industry-leading SaaS platform helps carriers, manufacturers, and distributors manage inventory, optimize sales, and grow their customer networks. By driving efficiency, transparency, and scale, PhoneX enables its partners to maximize value in the secondary mobile device market.
About ITOCHU Corporation
ITOCHU Corporation is a leading global trading and investment company headquartered in Tokyo, Japan, with operations in over 62 countries. The company engages in domestic and international trading of various products, including textiles, machinery, metals, energy, chemicals, food, and general products. Its ICT & Financial Business Company focuses on areas such as IT solutions, internet-related services, mobile telecommunications, and financial services, striving to create synergies that drive innovation and growth in these sectors.
Media Contact
Jayme White, PhoneX Holdings, Inc, 1 (336) 408-9637, [email protected], https://www.wesellcellular.com/
SOURCE PhoneX Holdings, Inc
