Spice i2i Ltd announced on 7 December 2010 that it acquired Thailand-based mobile phone maker NewTel Corporation Co Ltd. The acquisition of NewTel Corporation also known as WellcoM Mobile brand will enable Spice i2i to extend its market share to the Greater Mekong Sub-region that includes countries like Thailand, Vietnam, Myanmar, Cambodia and Laos. NewTel which is the second largest mobile handset player in Thailand registered a turnover of $56 million for 2009.
NewTely has a network of more than 3000 sub-dealers and over 60 WellcoM partners in Thailand. The company had sold more than 7 lakh mobile phones through its network of partners, sub-dealers and retail stores in 2009.
Spice i2i Ltd which was formerly known as MediaRing Ltd, is listed on the main-board of the Singapore Stock Exchange since 1999.
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