(NewMediaWire) - May 07, 2024 - WPF Holdings, Inc. (OTC PINK: WPFH) announces that it will begin manufacturing and distributing mobile devices (tablets and mobile phones) and household electronics and appliances (e.g. TVs, refrigerators, washer & dryers, etc.) under the Vezbi brand. All Vezbi mobile devices will come pre-installed with the Vezbi Super App and the Vezbi Pay digital wallet.
According to Statista, the United States is one of the world’s largest smartphone markets and has over 310 million users as of 2023. More than 21% of US consumers are “very likely” to consider changing smartphones. WPF Holdings plans to capitalize on US Consumers’ familiarity and willingness to adopt new smartphones, as part of the launch. The Vezbi firmware will be the major distinguishing feature and marketing boost for these devices.
Revenue in the Smart Home market is projected to reach US $38.8 Billion in 2024 with growth at an annual growth rate (CAGR 2024-2028) of 9.13%, resulting in a projected market volume of US $55 Billion by 2028. US Smart Appliances is expected to have a household penetration of 15.7% in 2024 and is expected to hit 33.3% by 2028 (Statista). Given that 63% of US consumers prefer to buy directly from the brand (Podium), WPF Holdings sees this as the ideal time to introduce these smart devices directly to consumers.
To date, WPF Holdings has secured five US retail locations to showcase its line of consumer electronics. The initial products will be in the mobile devices category, focusing primarily on smartphones and tablets. Vezbi plans to release the first products by Fall 2024.
About Vezbi
Vezbi is a wholly owned subsidiary of WPFH and was acquired early in 2023. Vezbi is a community-driven Super App designed to organize and consolidate all facets of life in one centralized application. What makes Vezbi so unique is its commitment to no bossy algorithms telling you what to look at, no anonymity, and no data selling. As accountability is the emphasis of the App, Vezbi believes that it is the first true Super App in the United States and will become a platform which will minimize fake reviews, fake news and online bullying.
Safe Harbor Statement
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
CONTACT
Vezbi, Inc
Investor Relations Contact
investors@vezbi.com
