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Tiphone set to acquire iPhone distributor in Indonesia to boost sales
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TMCNet:  Tiphone set to acquire iPhone distributor in Indonesia to boost sales

[March 12, 2012]

Tiphone set to acquire iPhone distributor in Indonesia to boost sales

Mar 12, 2012 (The Jakarta Post - McClatchy-Tribune Information Services via COMTEX) -- JAKARTA (THE JAKARTA POST/ANN) -- In an attempt to grab the upper class market, publicly listed local phone maker and distributor PT Tiphone Mobile Indonesia will soon realise its plan to acquire a company hold license to distribute iPhone.

Tiphone president commissioner Hengky Setiawan said that his company expected to complete the acquisition in the second quarter of the year.

"We hope to announce the deal soon. The company is the largest iPhone distributor in Indonesia and hopefully it will obtain the license to distribute iPad3. The company will significantly contribute to Tiphone growth as the iPhone market in Indonesia has potential," Hengky said on the sidelines of his company's extraordinary shareholders meeting on Friday.

Hengky said that the company had allocated US$10 million to $40 million of internal cash to finance the acquisition.

He said that although his company would have a subsidiary distributing iPhone, Tiphone would continue development and distribution of its own products.

"Their markets are different. Tiphone's market is the middle-lower segment. We will continue to encourage Tiphone to reach remote areas," Hengky said.

According to Hengky, Tiphone currently has 120,000 resellers across the country and expects that the number will grow to 300,000 by the end of the year.

"We will use the remaining funds obtained from our recent IPO to develop our retail business and develop our distribution chain, which will help Tiphone's sales," Hengky said.

Tiphone reaped 418.5 billion rupiah ($45 million) from its recent IPO. Hengky said that the company had already used the funds to pay loans amounting 360 billion rupiah to DBS Indonesia bank.

Besides the acquisition of the iPhone distributor, Tiphone is also in negotiations to acquire several other companies.

"We hope to reach deals with two or three companies in the sixth or seventh month," he said. Currently, Tiphone owns four subsidiaries: PT Telesindo Shop and PT Excel Utama Indonesia engaging in the distribution of telecommunication devices such as vouchers, PT Setiap Utama Services offering after-sales services for cell phones and PT Setia Utama Media Aplikasi involving in content development.

Teleshindo Shop, an authorised distributor of telecommunication giant Telkomsel, is the biggest contributor to Tiphone's revenue.

___ (c)2012 the Asia News Network (Hamburg, Germany) Visit the Asia News Network (Hamburg, Germany) at www.asianewsnet.net/home/ Distributed by MCT Information Services

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