bolltech yesterday announced its partnership with Sumitomo Corporation, one of Japan's largest trading houses. The two companies will enter a joint venture to deliver technology-enabled embedded solutions to distribution partners across a number of markets in Asia.
The technology-enabled embedded solutions will enable distribution partners to provide end-to-end device lifecycle management services, such as device upgrade, enhancing their ability to offer seamless and comprehensive solutions to customers in the region.
With smartphone prices rising and penetration increasing in emerging markets, the global demand for device protection services is on the rise. This trend is particularly pronounced in South Asia and Southeast Asia, where the demand for affordable, high-performance used smartphones is growing, driven by the growing proportion of young consumers. With the market for device protection expected to grow faster than the global average, there is a growing need for technology-driven device insurance and protection solutions.
The partnership will kick off with a launch in Southeast Asia focusing on a device upgrade programme, leveraging bolttech's distribution capabilities and Sumitomo Corporation's vast network of financing and guarantees capabilities.