NIVS IntelliMedia Technology Group, Inc. (“NIVS” or the “Company”) (NYSE Amex: NIV), a comprehensive consumer electronics company that designs, manufactures and sells intelligent audio and visual products and mobile phones, to companies like China Mobile Limited (NYSE: CHL) and China Telecom Corp. Ltd. (NYSE: CHA), recently announced that it has won its first order from China Mobile Limited (NYSE: CHL), the largest mobile phone carrier in China.
The order from China Mobile relates to the NIVS N61 model, which is a mobile phone designed for young children. It has distinctive security features that allow parents to track their children’s location through its built in GPS. The phone will be sold as a NIVS branded device through China Mobile. According to Morningstar, as of 2010, China Mobile controls the vast majority of China’s domestic mobile services market, with 70% market share. As of January 2011, China Mobile was estimated to have 589 million customers, the world’s largest mobile phone subscriber base.
“This contract-win from the largest mobile carrier in China is a milestone for NIVS and its shareholders,” said Tianfu Li, NIVS’ Chairman and CEO. “With a subscriber base of over 500 million customers, we believe China Mobile represents a heavy-weight partner in China with sizable potential business opportunities, both in terms of order frequency and dollar value. Indeed, after our first shipment of mobile phones to China Mobile stores, we have already received verbal confirmation of a follow-up order due to market demand for the N61 product. This is a testament to our R&D team, which added considerable value to our mobile phone technology, design, quality and price.”
The N61 model mobile phone from NIVS has a 1 inch color TFT screen. It works on the GSM 900 and DCS 1800 bands, has advanced and customizable family settings, and it has a kid-centric number pad with only six digits. These numbers are designed for use as speed dial keys so young children can easily and safely call parents, relatives, and parent-approved friends, while being restricted from dialing unknown numbers. The phone is fully compliant with China mobile’s GSM network, which covers 97% of China’s population.
Mr. Li continued, “We have diligently pursued this relationship with China Mobile over the last six months, so we would like to recognize the dedication of the many NIVS employees that made this a reality. We believe that this first contract with China Mobile successfully gets our foot in the door as we look to expand the number of branded phones we offer through China’s largest carrier, while simultaneously demonstrating NIVS’ growing presence in China’s rapidly expanding cell phone market. With further developments in the works, we expect 2011 to be a highly successful year for our mobile business.”
NIVS is implementing various corporate growth initiatives for 2011, with a particular focus on its fast-growing mobile phone business, and is committed to establishing itself as China’s preeminent integrated consumer electronics company. The Company will continue to focus on innovative research and development and expects to expand its product portfolio with the types of consumer electronics devices that are growing increasingly popular in China and in other high growth markets in Asia.
About NIVS IntelliMedia Technology Group, Inc.
NIVS IntelliMedia Technology Group (NYSE Amex: NIV) is an integrated consumer electronics company that designs, manufactures, markets and sells intelligent audio and video products and mobile phones in China, Greater Asia, Europe, and North America. The NIVS brand has received “Most Popular Brand” distinction in China’s acoustic industry for three consecutive years, among numerous other awards. NIVS has developed leading Chinese speech interactive technology, which forms a foundation for the Company’s intelligent audio and visual systems, including digital audio, LCD televisions, digital video broadcasting (“DVB”) set-top boxes, peripherals and more.
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This release contains certain “forward-looking statements” relating to the business of the Company and its subsidiary companies. All statements, other than statements of historical fact included herein are “forward-looking statements” including statements regarding: the Company’s business and operations; business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Chief Financial Officer
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Trilogy Capital Partners – Asia
Darren Minton, President