Mint Wireless exits channel

Disto no more

Mint Wireless has announced the sale of its technology distribution business to Hong Kong-based Speed Channel Limited.

The Mint Technology subsidiary sells memory, computer and phone accessories, A/V, software and cameras, including the hand-held range of Pico projectors. In its announcement to the Australian Securities Exchange, the company said it had determined that this operation was no longer core to its business.

The company says it will increase its focus on its mobile transactions business. In July, the company said it had won a deal for 3,000 terminals in Malaysia via its 51 percent-owned subsidiary J&C.

Mint recorded a loss of $AU2.3 million for 2010-2011 on revenue of $AU$11.7 million.

Speed Channel was incorporated in Hong Kong in April of 2010. While the company has the $AU1 million on hand to complete the purchase, it appears to have a very low profile. ®