eBuyNow Announces Product Development Agreement With Luxshare Group
VICTORIA, British Columbia, Nov. 09, 2020 (GLOBE NEWSWIRE) — eBuyNow eCommerce Ltd. (“eBuyNow”) is pleased to announce that it has entered into a Definitive Product Development Agreement with a subsidiary of Luxshare Precision Industry Co., Ltd.Luxshare Precision Industry Co., Ltd. (together with its affiliates, “Luxshare Group”) is located in Guangdong, China and is a global leader in the manufacturing industry. Luxshare Group has over 130,000 employees which enables eBuyNow to leverage its expertise over a variety of product ranges.eBuyNow is excited to formally add Luxshare Group to a growing list of excellent partners that include Google, QUALCOMM, Motorola, Kodak, Alford Industries and Globics. By working with world class manufacturing companies such as Luxshare Group, eBuyNow continues to implement its data-driven business model of creating products with the potential to truly improve consumers’ lives.“It is great to see our growing list of world leading design and manufacturing partners, such as Luxshare Group, join the ProductLoop revolution, using real time data mining for product development and market fit,” said eBuyNow’s Chief Executive Officer Craig Smith. “With Luxshare Group being one of the largest and fastest growing consumer electronics manufacturers in the world, we are proud to be working on a long-term strategy around a complete line of IoT product categories, which will be released in the next 24 months and beyond.”About eBuyNowWe are an independent, data-driven consumer electronics company. Using a custom-developed platform called ProductLoop, we identify the leading reasons for customer dissatisfaction within the consumer electronics industry. Armed with this data, we then proceed to design, build, market, and distribute a better breed of consumer electronics. We are a global operation, with 11 regional subsidiaries selling in 32 countries.Forward-Looking Information DisclaimerThis press release contains forward-looking information within the meaning of applicable securities legislation. In general, forward-looking information refers to disclosure about future conditions, courses of action, and events. The use of any of the words “anticipates”, “expects”, “intends”, “will”, “would”, and similar expressions are intended to identify forward-looking information. More particularly and without limitation, this press release contains forward-looking information about eBuyNow’s long-term strategy. Although eBuyNow believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because eBuyNow cannot give any assurance that they will prove to be accurate. By its nature, forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed in this press release. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date of this press release, and to not use such forward-looking information for anything other than its intended purpose. eBuyNow does not undertake any obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as required by applicable securities legislation.