Axesstel Adds Senior Wireless Executive to Its Board of Directors.SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. -- Axesstel, Inc. (AMEX AMEX See: American Stock Exchange :AFT), a designer, developer and marketer of CDMA-based fixed wireless voice and data products for the worldwide telecommunications market, announced today that Mr. Ake Persson has been elected to its Board of Directors. Mr. Persson brings to Axesstel more than 34 years of experience in the telecommunications industry. He held a variety of executive positions within the Ericsson group, most recently as Head of Ericsson's CDMA (Code Division Multiple Access) A method for transmitting simultaneous signals over a shared portion of the spectrum. The foremost application of CDMA is the digital cellular phone technology from QUALCOMM that operates in the 800 MHz band and 1.9 GHz PCS band. Systems Business Unit. In 2002, Ericsson Wireless Communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. Inc. was twice voted the best company to work for in San Diego, and in 2002, the Jacobs School of Engineering at UCSD UCSD University of California, San Diego (La Jolla, California) UCSD User Centered System Design UCSD Urbana-Champaign Sanitary District (Illinois) UCSD Ultra Cool Sexy Dudes honored Mr. Persson with the school's "Outstanding Executive Award 2002." When he retired in 2004, Mr. Persson was a member of the Group Executive Management Team and reported directly to the CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Ericsson. During his career, Mr. Persson established and managed a number of key business lines for Ericsson. He was the first general manager of Ericsson's cellular business and oversaw the company's early success in the global cellular market. He spearheaded Ericsson's entry into the wireless data market and was responsible for the introduction of wireless packet data systems in more than 25 countries around the world. From 1994 to 1999, he was the chief architect of all marketing, sales and communications activities for Ericsson's fast-growing mobile systems business. Mr. Persson served on the board of several Ericsson companies around the world, and has extensive experience in global mergers and acquisitions activities and the formation of strategic alliances. Commenting on his appointment, Mr. Persson said, "I am delighted to accept a position on the board of a young growing company. I am looking forward to sharing my industry knowledge and experience in this particular sector as Axesstel actively seeks out new global market opportunities and partnerships." "The recent strengthening of our Board of Directors through the election of Ake Persson is a very welcome development for Axesstel," said Mike Kwon, Axesstel's Chairman and CEO. "I believe that Ake's industry knowledge, stature and insight will be of enormous value to Axesstel going forward, as we seek to capture market share and expand our business." Axesstel also announced that Mr. Lixin Cheng, Executive Vice President of Axesstel and President of Axesstel Wireless, has been elected to its Board of Directors. About Axesstel, Inc. Axesstel designs, develops and markets fixed wireless voice and data products for the worldwide telecommunications market. Axesstel's products are based on the Code Division Multiple Access, or CDMA, technology, and include CDMA2000 and emerging third generation, or 3G, broadband data technologies, which are newer versions of the CDMA standard. Axesstel's product line includes fixed wireless desktop phone terminals, payphone payphone Noun a coin-operated telephone payphone pay n → Münztelefon nt; (card phone) → Kartentelefon nt terminals, voice/data terminals and broadband modems used for high-speed data services. Axesstel is headquartered in San Diego, California “San Diego” redirects here. For other uses, see San Diego (disambiguation). San Diego is a coastal Southern California city located in the southwestern corner of the continental United States. As of 2006, the city has a population of 1,256,951. , with a research and development center in Seoul, South Korea. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: With the exception of historical information, the statements set forth above include forward-looking statements relating to the growth of customer base, the potential for increased market share and the ability to form strategic partnerships with telecommunications service providers, which may affect Axesstel's results and future viability. Axesstel wishes to caution readers that actual results could differ materially from those suggested by the forward-looking statements due to risks and uncertainties and a number of important factors. Those factors include, but are not limited to, the possibility of delays in adoption of new technologies in developing markets, lack of continued acceptance or growth of CDMA technology in target markets, the possibility that networks that can support our CDMA EV-DO (EVolution-Data Only) A 3G high-speed digital data service provided by cellular carriers worldwide that use the CDMA technology, including Verizon and Sprint in the U.S. EV-DO works on EV-DO cellphones as well as laptops and portable devices that have EV-DO modems. and EV-DV (EVolution-Data Voice) Part of the third generation of high-speed data enhancements to the CDMA cellphone technology. See CDMA2000 for more details. broadband modems will not be widely deployed, competition for contracts with its large telecommunication carrier customers, the risks of dependence on a limited number of those customers such as Tata Teleservices, the requirement for end users to accept its products and technologies, Axesstel's dependence on sole source suppliers, including QUAMCOMM Incorporated for CDMA chips, the possibility of unforeseen manufacturing difficulties, Axesstel's need to attract and retain skilled personnel, and other risk factors and information contained in Axesstel's filings with the Securities and Exchange Commission. |
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