NANOTECH ENTERTAINMENT announced today that it has partnered with Ciao Entertainment and Television, a global provider of telecommunications products and services with headquarters in the U.S., to manufacture and market Televisions and Media Players in Brazil. Brazil is currently one of the largest, fastest growing consumer markets in the world, with over 17 million households currently subscribing to pay-tv services. According to Brazil's communications minister Paulo Bernardo, his department sees this growth continuing to a massive 40 million "within 3 to 4 years.' Through this partnership, NanoTech and Ciao will seek to capitalize on these growth trends by manufacturing and marketing high quality state of the art Televisions and Media players for the Brazilian market.
Ciao has recently invested in factories in Santa Rita De Sapucai, Minas Gerais, Brazil for the production of mobile communication devices including mobile phones, smart phones, tablets and mobile device components. This experience will help expedite the process for the new partnership in setting up production for NanoTech designed products. Ciao Telecom will be responsible for the distribution of the consumer devices throughout Brazil.
Commenting on the announcement, David Swanson, Vice President of Operations for NanoTech said, "We are very excited to announce this partnership, which marks an important step toward the Global expansion of NanoTech's products and Technology helping make NanoTech a truly multinational company.'
NanoTech CEO Jeffrey A. Foley closed by adding, "We are pleased to be partnered with such as strong company. Given Ciao's size and reach in Brazil, we are anticipating several million dollars in sales in the first six months. Ciao Telecom is a multinational telecommunication services provider with operations in the United States, Brazil, Europe and the Middle East. Ciao Telecom has especially deep knowledge of the Brazilian market and close connections with many organizations in Brazil. Together with Ciao, we are extending our global reach in providing the Future of Television."
Eugenio Santos, Ciao's chairman and CEO added, "In addition to our telecommunications offerings and IPTV based entertainment services, we will now provide a complete solution to the consumer including the Television, Set Top Box, and content services. Ciao is also combining our wireless offers with consumer and small business security products that protect property and integrate with Ciao mobile service.'
Santos continued, "This partnership will provide our customers with the best value state of the art video equipment. We plan to release more detailed information on our distribution programs shortly. Having the unparalleled IPTV technology and products that NanoTech offers combined with the Global Reach of Ciao is a winning formula. I'm excited about the opportunity for us to expand IPTV foreign language offerings in North America as well as brining 4K UltraHD to South America.'