Cassper’s Endorsed AG Mobile Get’s Liquidated

Hip Hop star, Cassper Nyovest launched AG#Hashtage in partnership with AG Mobile. This was the first time that AG Mobile has collaborated on design aspects, colours of the device with a celebrity. However, rumour has it now that the local smartphone brand AG Mobile has liquidated.

Founder and CEO, Anthony Goodman confirmed to FIN24 that the business has taken a turn for the worst. He also confirmed that fast growth for the business coupled with the exchange rate fluctuation really hurt them terribly and it had a significant impact. “We lost lot of money on the exchange rate towards the end of 2015, “he added.

Apparently the reason that this business was liquidated was because of cash funding, they grew too big and the ability to manage and maintain a very high growth capital intensive business is what affected the company. “Numerous factors have also led to the closure of AG Mobile” Goodman reported.

The AG Mobile was just put simply; it was generally designed for music lovers, people who just enjoyed being in the mix and socialising with the crew. “AG #Hashtag is dope. It has everything I would want in a phone” said the Phumakim hitmaker, Cassper Nyovest. He assured fans that they have his word that they’ll be getting great value

Goodman, though said that he saw success from sales of the AG brand within the country and Africa as a whole as the company grew from closely R180m to R550m. “We saw an exponential growth, so our sales were really strong” he said. Pep stores was a key client of AG Mobile