BEIJING, June 16 /PRNewswire-Asia-FirstCall/ -- SGOCO Technology Ltd., formerly known as Hambrecht Asia Acquisition Corp. (OTC Bulletin Board: SGTLF), a leading liquid crystal display ("LCD") solutions branded designer, manufacturer and distributor in China, today announced that it has entered into a three-year brand authorization and distribution agreement with TCL, China's well-known TV manufacturer and distributor with two subsidiaries listed on Hong Kong Stock Exchange [HKEX 1070; 2618] and one on Shenzhen Stock Exchange [SZSE 000100].
As a result of the agreement, SGOCO will manufacture TCL branded LCD monitors and co-manage the nationwide distribution network for TCL monitors from July 1, 2010 to June 30, 2013.
"This is a great partnership and collaboration between SGOCO and TCL," said Mr. Or, SGOCO Technology's CEO and President. "SGOCO has world-class scale production capacity but is new in the Chinese consumer electronics market, while TCL is a well-known Chinese brand with an established and extensive nation-wide distribution network. The partnership allows us to grow together and expand the channels for SGOCO products into the emerging markets in China."
"This authorization signals our first strategic partnership with an established Chinese consumer electronics brand," said Mr. Or, "as we are diversifying our brand portfolio, it may facilitate strategic alliances with other well-known brands."
About SGOCO Technology, Ltd.
SGOCO Technology, Ltd. is a leading branded designer, manufacturer and distributor of high quality LCD consumer electronics including LCD PC monitors, LCD TV and application-specific products under brands such as "SGOCO" and "Edge10". SGOCO is dedicated to providing high quality, branded electronics at affordable prices for consumers in China and other emerging markets worldwide.
For more information about SGOCO, please visit http://www.sgoco.com.
Safe Harbor Statement
This press release 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. 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," "intend," "plan," "estimate" or similar expressions, are "forward-looking statements". Forward looking statements include, without limitation, the Company's ability to use the authorization to facilitate strategic alliances with other well-known brands. 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. The Company assumes no obligation to update any of the information contained or referenced in this press release.
For investor and media inquiries, please contact:
SGOCO Technology, Ltd
SOURCE SGOCO Technology, Ltd.