NIVS has signed the agreement with e-Surfing. e-Surfing, as a mobile-communication service brand for FMC services by China Telecom, and one of the 3G GSM/CDMA duo system mobile phone suppliers for China Telecom, shares the China Telecom orders with first tier brand names.
According to China Telecom's 2010 purchasing plan, 8 suppliers have been selected as the approved vendors as its e-surfing 3G GSM/WCDMA duo system phone suppliers: namely, Samsung, Motorola, Sony Ericsson, LG, Huawei, ZTE, Coolpad and NIVS. In 2009, China Telecom purchased 500 million 3G mobile phones from its approved vendors. In 2010, China Telecom is expected to have an annual purchase volume of 1500 million mobile phone pieces, with the orders will be assimilated by these 8 approved vendors.
About China Telecom
China Telecommunications Corporation (China Telecom), an extra-large
State-owned telecom operator in
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 in
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward looking statements are often identified by the use of forward looking terminology such as "believes, expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties, including, but not limited to the Company's reliance on its major customers for a large portion of its net sales; the Company's ability to develop and market new products; the Company's ability to continue to borrow and raise additional capital to fund its operations; the Company's ability to collect aging trade receivables and the effect of a growing doubtful account allowance; the Company's ability to accurately forecast amounts of supplies needed to meet customer demand; exposure to market risk through sales in international markets; the market acceptance of the Company's products; exposure to product liability and defect claims; fluctuations in the availability of raw materials and components needed for the Company's products; protection of the Company's intellectual property rights; changes in the laws of the PRC that affect the Company's operations; development of a public trading market for the Company's securities; and the cost of complying with current and future governmental regulations and the impact of any changes in the regulations on the Company's operations. 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 the discussed above and 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 the Company or to 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 an obligation to update these forward-looking statements.
For more information, please contact: Company Contact: Jason Wong Vice President Investor Relations Tel: +86-138-299-16919 Email: firstname.lastname@example.org Investor Contact: United States & Canada BPC Financial Marketing John Baldissera Tel: +1-800-368-1217
SOURCE NIVS IntelliMedia Technology Group, Inc.