HUIZHOU, China, Oct. 28 /PRNewswire-Asia-FirstCall/ -- NIVS IntelliMedia Technology Group, Inc. ("NIVS" or the "Company") (NYSE Amex: NIV), a consumer electronics company that designs, manufactures and sells intelligent audio and visual products and mobile phones, today announced the engagement of China Century Dragon Media ("CCDM") to initiate and implement a branding and marketing program on behalf of the recently announced new series of NIVS branded mobile phones.
Included in the services will be branding perception and development, new product launch promotional events via traditional and electronic media, TV advertisement production, print ad designing and campaigns, and enhancement of the current NIVS website. CCDM will also recommend a spokesperson to be associated with the marketing campaign.
An annual fee of USD $353,000 will be paid to CCDM for their services and an additional 5% commission on promotional placements such as TV commercials and print ads. The kick-off event for the new mobile phones will take place at a merchandising conference on November 18, 2010 at the Huizhou Crown Plaza Hotel.
About NIVS IntelliMedia Technology Group, Inc.
NIVS IntelliMedia Technology Group 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.
About China Century Dragon Media
China Century Dragon Media is a China based media company. Through CD Media Beijing, CCDM engages in the promotion, sale and marketing of advertising packages on China television stations. CCDM purchases advertising time packages that air on CCTV-1, CCTV-2 and CCTV-3, three of the main channels of CCTV, the state television station of the PRC, which they repackage and sell to its customers. Currently they deal solely with third parties that act as agents for the sale of advertising time slots by CCTV. In addition, CCDM provides certain production services to help their clients integrate market resources and find partners to assist with producing the commercials.
The CCDM advertising business includes securing all or a portion of the advertising time and other advertising rights, which include soft advertising, such as sponsorship, on a specific television channel or program. They derive revenues in these cases from selling the advertising media resources that they've have acquired to advertisers. CCDM accounts for revenues in these cases on a gross basis and the cost for purchasing the advertising time slots is allocated to cost of revenues on a straight –line basis because they acquire the advertising media resources in advance at a predetermined price and bear the inventory risk of being a principal in acquiring the advertising media resources. They also have the ability to establish the prices that they charge for selling these advertising media resources to our clients. CCDM is also presently in the process of becoming a public company on a U.S. exchange.
Safe Harbor Statement
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 significance of Mr. Wasielewski's appointment on the Company's business and operations; the 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.
For more information, please contact:
Chief Financial Officer
Vice President Investor Relations
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United States & Canada
SOURCE NIVS IntelliMedia Technology Group, Inc.