VANCOUVER, CANADA -- June 9, 2003 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NYSE Symbol: NTE; CBOE Symbol: QNA) today announced its decision to: (a) make investments to acquire additional equipment to further enhance its image sensor manufacturing capabilities, and to send its R&D personnel to attend training courses on optical-related subjects; and (b) to make investments in Bluetooth™ wireless technology, including but not limited to the purchase of related software and testing equipment, in an effort to develop and produce related products.
Nam Tai has been producing camera accessories for cellular phones since July 2001. Seeing the increasing number of electronic products having image capturing functions in the market, the Company has decided to seek to further augment its manufacturing capabilities to produce image sensors to satisfy order demand for these components.
The Company also has considered the increase in applications using Bluetooth™ wireless technology in electronic products and the request of a customer for Nam Tai to develop the capability of producing products incorporating this technology. Bluetooth™ wireless technology enables short-range wireless connections between desktop and notebook computers, personal digital assistants (“PDA”), cellular phones, camera phones, printers, digital cameras, keyboards and even a computer mouse. The Company believes that the possession of manufacturing capabilities to produce products incorporating Bluetooth™ wireless technology would further diversify its product range and customer base.
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, 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. Further information is available at www.namtai.com.
Certain statements in this press release are "forward-looking statements" within the meaning of U.S. federal securities laws, including the Company's anticipated return on its investment from the manufacture of products incorporating Bluetooth™ wireless technology. 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, including for example, our ability to develop new manufacturing processes and competitive solutions, the factors set forth in the Company's Annual Report on Form 20-F for the year ended December 31, 2002 and other filings made with the U.S. Securities and Exchange Commission from time to time. There are important factors that could cause actual results to differ materially from the information set forth in these 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. "Bluetooth" is a trademark owned by Bluetooth SIG, Inc.