Phonex Holdings Inc (PXHI) Financial

PhoneX Holdings, Inc. engages in the management of an online platform for the wholesale exchange of used smartphones. The company is headquartered in New York City, New York. The company went IPO on 2007-10-25. The firm works with mobile carriers and mobile handset distributors to facilitate global commerce related to pre-owned mobile devices. The firm operates through two models: Proprietary Trading Model and Platform Partnership Model. Its Proprietary Trading Model, through which it purchases devices utilizing its own balance sheet via its subsidiary it Sell Cellular LLC. Its Platform Partnership Model, through which it enables its partners to license its software via its subsidiary PhoneX, Inc. Through these licensing agreements, the Company enables mobile carriers and mobile handset distributors to increase selling prices and selling velocity by using a specialized, automated platform where wholesale buyers of mobile devices can purchase inventory on demand.