VANCOUVER, CANADA -- February 14, 2005 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NYSE Symbol: NTE; CBOE Symbol: QNA; Frankfurt Stock Exchange Symbol: 884852) announced that it has received orders for a new product from a global cellular phone manufacturer, to manufacture the Desk Speaker Stand for its cellular phones.
The Desk Speaker Stand is a new office line product of cellular phone accessory which enables hands free calls to be made from the user’s cellular phone, and can act as a loudspeaker for incoming calls. The built-in microphone and speaker of the Desk Speaker Stand enables users to hear the caller loud and clear in a room and can thus easily facilitate small conference calls. In addition to being a speaker phone, the Desk Speaker Stand can also act as a phone battery charger and can synchronize the user’s phone and PC, even while the phone is in use.
“We are very excited to be granted an opportunity to build Desk Speaker Stands for cellular phones for a global cellular phone manufacturer,” said Mr. Joseph Li, Chief Executive Officer of Nam Tai. “These new orders not only further broaden and diversify our product line of cellular phone accessories, they also demonstrate our customer’s continued confidence and recognition in Nam Tai’s manufacturing technology and capability.”
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.