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Brightstar Corp. Launches Brightstar Financial Services

Brightstar Corp., the world’s largest specialized wireless distribution company and leader in diversified services for the wireless industry, today announced the launch of Brightstar Financial Services. Brightstar Financial Services is a direct response to increased global market demand for handset and tablet leasing options that address the rising costs of these devices. Brightstar Financial Services will deliver innovative financing solutions for customers worldwide, and will initially offer two different financing models. The first model is focused on providing financing solutions for end-users looking to upgrade or access the latest mobile technology but without the means to pay upfront. The second model is a business-to-business model focused on offering operators, retailers, and dealer agents financing solutions for their customers.

Dennis Strand, president, Brightstar Financial Services. (Photo: Business Wire)

Dennis Strand, president, Brightstar Financial Services. (Photo: Business Wire)

Dennis Strand, former Chief Financial Officer of Brightstar Corp., has been promoted to President of Brightstar Financial Services and will be responsible for the management of the new business unit. Mr. Strand will report to R. Marcelo Claure, Brightstar Corp’s Chief Executive Officer.

“I am very excited to take on this new challenge,” said Mr. Strand. “For a few years now, I have had a deep interest in addressing the growing need for financing solutions in the wireless industry. Brightstar’s existing infrastructure and relationships offer an optimal platform to deliver these solutions.”

“Dennis has played a significant role during his 5-year tenure as Chief Financial Officer, a period that included significant growth with our revenues almost doubling,” said Mr. Claure. “I am excited that we will continue to benefit from his leadership and experience as we launch this important strategic initiative within Brightstar."

Brightstar Financial Services further adds to Brightstar’s leading global diversified services offering for the wireless industry that also includes Value-Added Distribution, Supply Chain Solutions, Handset Protection and Insurance, Buy-Back & Trade-In Solutions, and Multi-Channel Retail Solutions.

About Brightstar

Brightstar, headquartered in Miami, Florida, is the world’s largest specialized wireless distributor and a leading global services company, serving mobile device manufacturers, wireless operators and retailers, with a presence on six continents. The company’s industry-leading services include value-added distribution, supply chain solutions, handset protection and insurance, buy-back and trade-in solutions, multi-channel retail solutions, and financial services. Brightstar’s annual revenues were US$5.9 billion for the period ended June 30, 2012. The company is ranked #70 on the Forbes 2011 List of America’s Largest Private Companies. http://www.brightstarcorp.com

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