VANCOUVER, CANADA -- December 19, 2002 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NASDAQ/NM Symbol: NTAI; CBOE Symbol: QNA) today announced that mobile phone maker TCL Mobile Communication Co. Ltd. (“TCL Mobile”) exceeded its sales forecast by selling 650,856 handsets in November 2002, a 13% increase compared to 577,890 handsets sold in October 2002, according to the latest unaudited company figures. TCL Mobile has now sold 5.3 million handsets for the first 11 months of 2002 surpassing its 2002 target of 5 million handsets.
“Nam Tai is very pleased to see TCL Mobile’s continuing growth and outstanding performance in today’s competitive handsets business. As both a TCL Mobile investor and a supplier we strongly believe that Nam Tai will benefit from TCL Mobile’s growth and create business opportunities in the blooming mobile industry in the PRC market,” commented Mr. Tadao Murakami, Nam Tai’s Chairman.
Nam Tai Electronics, Inc. is an electronics design and manufacturing service provider to some of the world’s leading original equipment manufacturers. Nam Tai manufactures telecommunication products, palm-sized PCs, personal digital assistants, linguistic products, calculators and various components including LCD modules and RF modules for cellular phones, transformers and LCD panels. The Company utilises advanced production technologies such as chip on board (COB), chip on glass (COG), chip on film (COF), surface mount technology (SMT), ball grid array (BGA), tape automated bonding (TAB), and outer lead bonding (OLB) technologies. Further information is available on Nam Tai’s web site at www.namtai.com.