VANCOUVER, CANADA -- April 12, 2004 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NYSE Symbol: NTE; CBOE Symbol: QNA; Frankfurt Stock Exchange Symbol: 884852) announced it has received orders from one of the top five global handset manufacturers, to manufacture CMOS image sensor modules for its cellular phones with build-in camera functions. Since the customer has not yet given their consent to disclose its identity, Nam Tai will make further announcement when it has the consent from customer.
“We are very pleased to be granted an opportunity to manufacture CMOS image sensor modules for one of the top five global handset manufacturers. This new order not only demonstrates that Nam Tai’s manufacturing technology and capability in CMOS image sensor modules area, have been well recognized in the industry, it also further enhances our customer base,” said Mr. Tadao Murakami, Nam Tai’s Chairman. “In view of the strong market demand for camera phones, we believe that Nam Tai will continue to benefit from the huge business opportunities arising in this mobile imaging area.”
CMOS image sensor modules offer high picture quality and are designed into devices such as cellular phones, PDAs, digital still cameras, automobiles, PC cameras, security, surveillance, toys, biometric readers, bar code readers, medical devices, and a host of other products where small size, low power and cost are important factors.
Leveraging on Nam Tai’s well equipped facilities, it is one of the Company’s targets to further engage in the handset assembly for the world’s leading handset manufacturers. “With our valuable experiences in component assembly, together with the enhanced capability in our manufacturing plant, we are confident in providing this expertise service for our customers,” Mr. Murakami added.
To further expand the manufacturing capability and capacity, Nam Tai is expanding its production facilities in Shenzhen. The new amenities centre for workers has already been completed and is in use by the workers. The new office building is expected to be completed in July 2004. Regarding the new factory premises, Nam Tai expects these are to be completed at the end of this year. After renovation and installation of production equipment, it is expected that the new factory premises will come into operation in the second quarter of 2005.
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.