SGOCO Unveils New Products for the High-end Market
BEIJING, April 9, 2014 /PRNewswire/ -- SGOCO Group, Ltd. (Nasdaq: SGOC) ("SGOCO" or the "Company"), a company focused on product design, distribution and brand development in the display market, today announced the launch of a new flat screen display unit to target high-end markets, along with two upgraded versions of its Parts-In-One PC ("PIO").
The new flat screen display unit conforms to SGOCO's new display design features, emphasizing a stylish, slim appearance while remaining lightweight and affordable for high-end consumers. The 21.5 inch model, framed with precious metals, comes in white, silver or gold.
PIO is a touch-screen, user-friendly PC that is built in to a flat screen monitor. The design is excellent for consumers who wish to enjoy the flexibility to configure and build their own PC system in the same vein as a traditional PC. SGOCO is set to launch two new versions of their PIO in May 2014, and the new version features 27 and 32 inch models. Both models feature a high resolution LED display, support 1080 progressive scanning, a pre-1.3 megapixel camera, high fidelity stereo and surround sound performance, and a high compatibility motherboard that can accommodate Micro ATX and Mini ITX, among others.
Since the soft launch of their All-In-One PC ("AIO") and PIO in June last year, the sleek design of their AIO and PIO has attracted a whole new market for SGOCO's products, and quickly became key drivers for revenue growth and margin expansion in the second half of the year. These new versions of PIO will target China's internet cafes, which number over 100,000, and will be distributed through SGOCO's robust distribution channel to thousands of large-scale computer centers for end-users who prefer to assemble their own PC.
Mr. David Xu, President and CEO of SGOCO commented on the launch. "We are particularly excited about these new launches as they add to our growing line of high-margin, high-value and application specific products. SGOCO is committed to executing its growth strategies to diversify its business from traditional panel-displays to smart value-added display solutions. These product launches are a testament to our determination to succeed in this goal."
ABOUT SGOCO GROUP, LTD.
SGOCO Group Ltd. (NASDAQ: SGOC) offers innovative display products and solutions to consumers and businesses in various industry verticals. By collaborating with its brand partners and utilizing comprehensive industry knowledge in product development, SGOCO addresses customers' rapidly-changing display needs by delivering highly intelligent products and solutions that integrate hardware and software in SGOCO's own brand and licensed brands. Leveraging on its highly integrated distribution channels, SGOCO primarily targets China's rapidly-emerging tier three and four cities in China. SGOCO is also regarded as a reliable brand developer. SGOCO was established in 2005 and maintains its headquarters in Beijing, China. For more information about SGOCO, please visit our investor relations website http://www.sgocogroup.com.
For investor and media inquiries, please contact:
SGOCO Group, Ltd.
Investor Relations Officer
Hong Kong: +(852) 2501-0128
US: +1(646) - 5831616 (Voice mail)
SAFE HARBOR AND INFORMATIONAL STATEMENT
This announcement contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of the Company set forth herein and those preceded by or that include the words "believe," "expect," "anticipate," "future," "will," "intend," "plan," "estimate" or similar expressions, are "forward-looking statements". Forward-looking statements in this release include, without limitation, the effectiveness of the Company's multiple-brand, multiple channel strategy and the transitioning of its product development and sales focus to a "light-asset" model. Although the Company's management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. These forward-looking statements can change as a result of many possible events or factors not all of which are known to the Company, which may include, without limitation, requirements or changes adversely affecting the LCD and LED market in China; fluctuations in customer demand for LCD and LED products generally; our success in promoting our brand of LCD and LED products in China and elsewhere; our ability to have effective internal control over financial reporting; our success in designing and distributing products under brands licensed from others; management of sales trends and client mix; possibility of securing loans and other financing without fixed assets as collateral; changes in government policy in China; the fluctuations and competition in sales and sale prices of LCD and LED products in China; China's overall economic conditions and local market economic conditions; our ability to expand through strategic acquisitions and establishment of new locations; compliance with government regulations; legislation or regulatory environments; geopolitical events, and other events and/or risks outlined in SGOCO's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F and other filings. All information provided in this press release and in the attachments is as of the date of the issuance, and SGOCO does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
SOURCE SGOCO Group, Ltd.