VANCOUVER, CANADA -- January 24, 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 successfully upgraded its Chip On Board (“COB”) production technology to include gold wire ball bonding for manufacturing CMOS image sensor modules in mega pixel level quality.
In response to its customers’ strong demand for high resolution CMOS image sensor modules to be used in image capturing device such as cellular phones with built in camera function, the Company has upgraded its COB production technology by investing in new gold wire ball bonding COB equipment and related facilities. With the completed installation of upgraded COB equipment and successful pilot production run of high resolution CMOS image sensor modules, the Company is now capable of producing CMOS image sensor modules in various package forms and further reduce the risk of component shortage and improve cost efficiency.
“There is a growing demand for CMOS image sensor modules with better image quality,” said Mr. Joseph Li, Chief Executive Officer of Nam Tai. “With our ongoing advancement of our manufacturing capabilities, we believe that Nam Tai is well positioned to respond to the demand from the fast growing electronic manufacturing industry, especially the optical device area, and to capture more business opportunities arising in this area.”
Recruitment of over 1,000 Additional Workers for Expansion
To cope with its continued increasing orders and growing demand from its customers, the Company plans to recruit over 1,000 additional workers in its manufacturing base in Shenzhen, PRC. This recruitment will increase the total number of employees from around 5,600 to 6,600 by the end of March 2005.
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.