VANCOUVER, CANADA -- March 14, 2005 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NYSE Symbol: NTE) announced that it has raised the production capacity of its Surface Mount Technology (“SMT”) production lines to accommodate increasing customer orders and demand for new products, including Digital Audio Broadcast (“DAB”) modules and Radio Frequency (RF) motherboards for cellular phones.
In addition to the $2.2 million investment in its Chip on Film (“COF”) production lines made recently, Nam Tai has further invested $2.3 million to equip two additional SMT production lines for the dramatic growth of its key component sub-assemblies business. The production capacity of SMT has increased from 670,000,000 resistor capacitor chips per month to 790,000,000 resistor capacitor chips per month.
“We are very pleased to see the strong market demand of high-tech key component sub-assemblies, which is currently Nam Tai’s main focus. With our ongoing enhancement of our production capacity and capability, we are well positioned to respond to the increasing demand of key component sub-assemblies and seize more business opportunities arising in this area.” said Mr. Joseph Li, Chief Executive Officer of Nam Tai.
About Nam Tai Electronics, Inc.
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 sub-assemblies 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.
Nam Tai has two Hong Kong listed subsidiaries, Nam Tai Electronic & Electrical Products Limited (“NTEEP”) and J.I.C. Technology Company Limited (“JIC”). Interested investors may go to the website of The Stock Exchange of Hong Kong at www.hkex.com.hk to obtain the information. The stock code of NTEEP and JIC in The Stock Exchange of Hong Kong are 2633 and 987, respectively. Investors are reminded to exercise caution when assessing such information and not to deal with the shares of the Company based solely on reliance of such information. The results of NTEEP and JIC only represent a part of the results of the Company and there are GAAP differences in the financial statements of NTEEP and JIC, when compared with the financial statements of the Company. Furthermore, different subsidiaries of the Company may have a different peak season during a year.