Washington: In a phone call to Barack Obama, who clinched a second term as US President, his Republican challenger Mitt Romney conceded defeat on Wednesday.
Romney, who has lost the 2012 White House race, had only prepared a 1,118-word victory speech ahead of results.
Romney, who was confident that he would win the Presidential Elections, had finished his draft victory speech while on a flight from Pittsburgh to his hometown of Boston.
“I just finished writing a victory speech,” Politico quoted Romney, as saying.
“It’s about 1,118 words. And, uh, I’m sure it will change before I’m finished, because I haven’t passed it around to my family and friends and advisors to get their reaction, but I’ve only written one speech at this point,” he added.
As per the latest projections, Obama, who four years ago was elected as the US' first African American president, is expected to win 281 votes as against 201 by Romney.
As celebrations broke out across the country, a victorious Obama tweeted: "Four more years."
(With Agency inputs)