PepsiCo says to market mobile phones, accessories in China
((story corrects paragraph 5 to say PepsiCo would present, not release a smartphone on Oct. 20))
(Reuters) - PepsiCo Inc said on Monday it is working with a licensing partner to market a line of mobile phones and accessories in China in the next few months.
The food and beverage company however has no plans to get into the mobile phone manufacturing business, a PepsiCo spokeswoman said by email.
"Available in China only, this effort is similar to recent globally licensed Pepsi products which include apparel and accessories," the spokeswoman said.
The spokeswoman did not name the licensing partner or give any further details about the phone.
Technology website Mobipicker was the first to report, on Oct. 11, that PepsiCo would present a smartphone, called Pepsi P1, with "decent but not high-end specs" on Oct. 20. (http://bit.ly/1VObil2)
PepsiCo already has many licensees across a number of categories. Last year, it tied up with companies such as Danish luxury stereo and TV maker Bang & Olufsen and Italian shoemaker Del Toro for a range of products for its football campaign.
PepsiCo's shares were down 0.5 percent at $99 in late afternoon trading on Monday, while the broader market was flat.
(Reporting by Subrat Patnaik in Bengaluru; Editing by Don Sebastian and Savio D'Souza)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Mondi Says It Does Not Intend To Make An Offer For DS Smith
- Crown Castle (CCI) Issues Statement on "Ted Miller's Latest Attempt to Disrupt the Company's Momentum"
- HP Inc. (HPQ) Amends Bylaws to Decrease Board to 12 Seats
Create E-mail Alert Related Categories
Corporate News, ReutersSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!