NeoMagic (R) Corporation Announces eCommerce Expansion to Mexico
MILPITAS, Calif., September 25, 2017 (Newswire.com) - MercadoMagico.com, a division of NeoMagic Corporation (OTC:NMGC), announced today that it has launched its online retail e-Commerce, MercadoMagico.com.mx, a Spanish-language website, in Mexico as part of its continued strategy to become a leading e-Commerce marketplace among the Hispanic and Latino communities in the United States and internationally.
MercadoMagico.com.mx will allow customers in Mexico access to thousands of unique products from a wide range of categories, while providing the same great savings and secure shopping experience MercadoMagico.com customers have grown to know.
Not just an online store, MercadoMagico.com.mx is a multivendor marketplace that provides sellers with a secure and seamless platform which provides an intuitive front-end and seller rich management functionalities for them to sell their products.We are very excited to expand into Mexico. The expansion of MercadoMagico into Mexico is a major milestone in our strategic plan for MercadoMagico to become a major global brand in the e-Commerce space.
Research recently published by eshopworld indicates, "Revenue generated by e-Commerce in Mexico is expected to grow annually at a rate of 16.57%, reaching bUSD 17.6 by 2020. Online shopping currently represents 2% of the country’s roughly $203 billion in annual retail sales, representing a huge opportunity as Mexicans have only begun to adopt e-Commerce. There are currently 37.9 million online shoppers in Mexico—a figure that is projected to reach 55.3 million by 2020."
"We are very excited to expand into Mexico," said David Tomasello, Chairman of NeoMagic Corporation. "The expansion of MercadoMagico into Mexico is a major milestone in our strategic plan for MercadoMagico to become a major global brand in the e-Commerce space."
NeoMagic Corporation, headquartered in Silicon Valley, is a pioneer in SOC (System On A Chip) and embedded dynamic random-access-memory (DRAM) technology, the integration of complex logic, memory and analog circuits into single-chip solutions, designed to offer the lowest power, smallest form-factor and best multimedia features and performance.
For more information, visit www.neomagic.com.
NeoMagic owns and operates http://www.MercadoMagico.com.
MercadoMagico is a registered trademark.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company's plans, objectives, projections, expectations and intentions and other statements identified by words such as "projects," "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," or similar expressions. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties, including those detailed from time-to-time in the Company's filings with the Securities and Exchange Commission, including our Form10-Ks, 10-Q and 8-Ks for 2007 through the date of Oct. 31, 2010 hereof have been made available to the Investor at www.sec.gov. Information for the period ending Jan. 30, 2011 to the present is not available through the SEC due to the cessation of the Company’s required filings under the 1934 Act. Actual results, including, without limitation, the Company's ability to successfully raise capital may differ significantly from those set forth in the forward-looking statements. Forward-looking statements involve risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control). For example, statements about our expectations in connection with financings are subject to a variety of uncertainties and are subject to change as a result of changes in circumstances that could make it difficult for us to consummate such financings on terms acceptable to the Company, or at all. The Company undertakes no obligation to update any forward-looking statements, except as provided for by law.
NeoMagic is a registered trademark of NeoMagic Corporation and MiMagic is trademarked. All other trademarks are the property of their respective owners. NeoMagic disclaims any proprietary interest in the marks and names of others.
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