Earlier this year, Flux Chargers announced its plans to venture outside the US market. With the great news that came along just today, it seems like Flux Chargers’ expansion to Asia is about to materialize.
Korean Sam Sung has bought Flux Cards™ for a lump-sum of 1M KRW (Korean Won) which as of today is equivalent to $870.71 USD. The specifics of the deal will be kept confidential, but it is rumored that the deal comprises 34.82 Flux Cards to be sent to a secret location in South Korea, not including the cost of shipping.
This is great news for Flux Chargers’ holdings company, Flux Ventures, as this purchase increases Flux Ventures’ working capital by 0.32%, providing great return for its investors and partners.
With this deal, Flux Chargers will gain great presence in Korea, before expanding into more volume-intensive markets such as China and India, which are targets to be hit in Q1 of 2017.
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