SAN DIEGO, CA–(Marketwire -10/20/11)- Franklin Wireless Corp. (OTC.BB: FKWL.OB – News) today announced it ranked No. 18 on Deloitte’s Technology Fast 500™ ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. For the five-year period measured by Deloitte, 2006 to 2010, Franklin Wireless’ revenues grew 10,060 percent during this period.
Franklin Wireless’ president, OC Kim, credits the company’s leadership position in the dual-mode (3G and 4G) USB modem market with the company’s 10,060% revenue growth. He said, “Franklin Wireless is honored to be selected as the 18th fastest growing company in North America as well as the 6th fastest growing company in California. This award recognizes the fact that we are successfully executing on our strategy to develop and sell the most innovative and cost effective high speed wireless data device solutions available in the market today.”
“Franklin Wireless, like all 2011 Technology Fast 500™ companies, has excelled in fostering innovation and channeling it into spectacular growth — against the backdrop of one of the most challenging economies in history,” said Eric Openshaw, vice chairman and U.S. technology, media and telecommunications leader, Deloitte LLP. “Deloitte recognizes Franklin Wireless for its remarkable accomplishment.”
“We are pleased to honor Franklin Wireless as a 2011 Technology Fast 500 company,” said Mark Jensen, managing partner, technology and venture capital services, Deloitte & Touche LLP. “As one of the fastest growing tech companies in North America, Franklin Wireless has demonstrated excellence in technological innovation, entrepreneurship and rapid growth.”
About Deloitte’s 2011 Technology Fast 500™ Technology Fast 500, which was conducted by Deloitte & Touche LLP, a subsidiary of Deloitte LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2006 to 2010.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About Franklin Wireless
Franklin Wireless Corp. (OTC.BB:FKWL – News) is engaged in the design, manufacture and sale of high speed wireless data products including third generation (“3G”) and fourth generation (“4G”) modems, routers and modules. Our current products are focused on widely deployed cellular technologies including CDMA EVDO Rev A, HSPA, WiMAX and LTE. We were the world’s first supplier of both CDMA EVDO Rev A and dual-mode (CDMA EVDO Rev A/WiMAX) Universal Serial Bus (USB) modems. Franklin’s other products include Wi-Fi “hotspot” routers (which operate over WiMAX or CDMA networks) and wireless modules that are generally sold to original equipment manufacturers (OEMs). Our company’s primary customers are wireless carriers who seek innovative, reliable and cost effective technology solutions for their subscribers. Our customer base extends from the United States to South America and the Caribbean.
Franklin Wireless is headquartered in San Diego, California and has a majority ownership position in Franklin Technology Inc. (FTI), a research and development facility located in Seoul, South Korea. FTI provides design, development and manufacturing services to Franklin for its wireless data products. For additional information, please visitwww.franklinwireless.com.
Safe Harbor Statement:
Certain statements in this press release constitute “forward-looking statements” within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements, expressed or implied by such forward-looking statements.
Franklin Wireless Corp.