VANCOUVER, CANADA -- February 22, 2005 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NYSE Symbol: NTE) is pleased to announce that it has received a new customer order from SunCorp Technologies Limited (“SunCorp”), one of Hong Kong’s largest manufacturers of telecommunication products and the second largest manufacturer of residential cordless phones for the European market, to manufacture Super Twisted Nematic (“STN”) LCD panels and modules for its cordless phones.
Nam Tai has manufactured LCD modules for cellular phones since 1999. In addition to cellular phones, the Company also sees a lot of business opportunities in LCD modules for cordless phones, MP3 players, electronic instruments and car audio equipment. Such business opportunities are further driven by the replacement of monochrome LCDs with color LCDs in certain electronic products. Nam Tai is now capable of producing Color Super Twisted Nematic (“CSTN”) LCD panels of quality from 64K up to 262K color, and is well-positioned to capture these additional business opportunities to sustain its continuous growth.
“Thanks to the dedicated efforts of our strong professional management team, we have been able to continuously capture the large growth opportunities in the LCD industry,” said Mr. Joseph Li, Chief Executive Officer of Nam Tai. “Building on our leading edge production technologies and strong sales and marketing strategies, we will further increase and diversify our production lines to offer value-added services to customers and enhance our customer base as well.”
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 the 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.