STOCKHOLM (04/18/2000) - Motorola Inc. yesterday announced plans to invest US$15 million in Point.com Inc., a Web-based retailer of mobile phones, accessories and service plans in 50 metropolitan areas throughout the U.S.
Point.com's private-label business-to-business strategy is expected to grow retail opportunities for Motorola's products and services in the rapidly growing e-commerce marketplace, Motorola said in a statement.
Financial terms of the investment deal were not available.
Motorola is the world's second largest supplier of mobile phone handsets, behind Finland's Nokia Corp., but ahead of L.M. Ericsson Telephone Co. of Sweden, according to estimates from market researcher Dataquest Inc. [See "Global Mobile Phone Sales Grew 65 Percent in '99," Feb. 9.]Motorola, in Schaumburg, Illinois, can be reached at +1-847-576-5000, or via the Web at http://www.motorola.com/. Point.com, in Bothell, Washington, is at +1-425-951-4400, or at http://www.point.com/.