VANCOUVER, CANADA -- February 10, 2003 -- Nam Tai Electronics, Inc., (“Nam Tai” or the “Company”) (NYSE Symbol: NTE; CBOE Symbol: QNA) today announced it has received new orders from a major Japanese manufacturer to produce TFT LCD modules and advanced high resolution LCD modules for mobile phones.
TFT LCD modules are the most advanced LCD modules used in today’s mobile phones. Compared with STN LCD modules, TFT LCD modules have a higher resolution and are used in high-end mobile phones with camera and/or video functions. TFT LCD modules can produce 65K color image quality while STN LCD modules generally produce 4096 color image quality at most.
“Mobile phones with color displays and multi-media functions are the new global trend. We generally expect that the demand for innovative and sophisticated components for mobile phones will grow significantly in the future. In order to keep pace with the fast moving mobile phone industry, Nam Tai will continue to upgrade its technology to strengthen its competitive position in the mobile phone components manufacturing industry,” commented Mr. Tadao Murakami, Nam Tai’s Chairman. “In addition, Nam Tai is very pleased to be granted the opportunity of manufacturing TFT LCD modules, one of the most advanced LCD modules. This new business, not only diversifies our product lines of LCD modules for mobile phones, it also enhances our services for OEM customers in the mobile phone marketplace. With our extensive experience in manufacturing high quality and sophisticated mobile phone components, we strongly believe that Nam Tai will benefit from the business opportunities arising from the rapidly growing mobile phone industry.”
Fourth Quarter Results and Analyst Conference Call
Nam Tai will release its unaudited fourth quarter results for the period ended December 31, 2002 and its planned decision for the 2003 dividend amount at the close of the market on Friday, February 14, 2003. The Company will hold a conference call on Tuesday, February 18, 2003 at 10:00 a.m. Eastern Time for analysts to discuss the fourth quarter results with management.
Analysts who wish to participate on this conference call should contact the Investor Relations Office at 1-800-661-8831 no later than 6:00 p.m. Eastern Time on Friday, February 14, 2003 to register and obtain the toll-free dial-in number. Shareholders, media, and interested investors are invited to listen to the live conference call over the Internet by going to http://www.namtai.com/news/news.htm and clicking on the conference call link or over the phone by dialing 612-288-0318 just prior to its start time. Users will be asked to register with the conference call operator.
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, wireless communication terminals and their modules, transformers and LCD panels. The Company utilizes 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 website at www.namtai.com.
Except for the historical information contained herein, matters discussed in this press release are forward-looking statements. For example, the expectation that the demand for innovative and sophisticated components for mobile phones will grow significantly is a forward looking statement that is subject to many uncertain factors including end-user acceptance, development of new user applications, competition for new or alternative technologies, and macro-economic factors. Whether the Company can benefit from this growing demand is also uncertain and dependant on its ability to attract and retain customers, ability to adopt new technologies in a timely manner, and competitiveness within the industry. Other factors that might cause differences in these and the other forward looking statements, include those discussed in the Company's reports filed with the Securities and Exchange Commission from time to time, such as the factors set forth in Item 3 "Key Information - Risk Factors" in the Company's Annual Report on Form 20-F for the year ended December 31, 2001.