VANCOUVER, CANADA -- October 13, 2003 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NYSE Symbol: NTE; CBOE Symbol: QNA) today announced its decision to invest $3.5 million to expand its high resolution color LCD module (for color STN and TFT Modules) production capacity due to the strong market demand for color LCD modules for cellular phones. The production capacity of color LCD modules will be increased by 62.5% from 1,600,000 units per month to 2,600,000 units per month.
In order to increase the production capacity of color LCD modules for cellular phones, Nam Tai has decided to acquire additional sophisticated equipment such as chip on glass (COG) and tape automated bonding (TAB) machines, which are the major machinery in the manufacturing of color LCD modules.
With its high-resolution, low power consumption, and capable of displaying up to 65,536 color image quality, color LCD modules are suitable for use in today’s cellular phones, PDAs, digital cameras and electronic watches.
“As new cellular phones are shifting worldwide towards having color displays, we expect the demand of color LCD modules for cellular phones will grow rapidly and significantly in the near future,” said Mr. Tadao Murakami, Chairman of Nam Tai. “With our leading edge production technology and extensive experience in manufacturing high quality and sophisticated cellular phones components, we believe that Nam Tai will benefit from the huge business opportunities arising in this rapidly growing cellular phone industry.”
About Nam Tai
We are an electronics manufacturing and design services provider to original equipment manufacturers of telecommunications and consumer electronic products. Through our electronics manufacturing services operations, we manufacture electronic components and subassemblies, including LCD panels, LCD modules, radio frequency modules, flexible printed circuit subassemblies and image sensors. These components are used in numerous electronic products, including cellular phones, laptop computers, digital cameras, copiers, fax machines, electronic toys, handheld video game devices and microwave ovens. We also manufacture finished products, including cellular phones, palm-sized PCs, personal digital assistants, electronic dictionaries, calculators and digital camera accessories for use with cellular phones.
Certain statements in this press release are "forward-looking statements" within the meaning of U.S. federal securities laws. Nam Tai intends that these statements be covered by the safe harbors created under these laws. These forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by the forward-looking statements. Many of these factors are beyond Nam Tai's ability to control or predict. Given these uncertainties, readers are cautioned not to place undue reliance on the forward-looking statements, which only speak as of the date of this press release. Nam Tai does not undertake any obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.