VANCOUVER, CANADA -- December 10, 2002 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NASDAQ/NM Symbol: NTAI; CBOE Symbol: QNA) today announced results of a report released by Beijing Famous-Brand Evaluation Co., Ltd. on Chinese brand name values in 2002. The report ranked the TCL brand name as the 6th most valuable Chinese brand name in The People’s Republic of China (“PRC”) at $2.3 Billion, an increase of approximately 30% compared to the prior year evaluation. Nam Tai holds a 6% equity interest in TCL Corporation since February 2002.
“Following our recent realization of 15 times return from part of our investment in TCL Mobile, one of the subsidiaries of TCL Group, Nam Tai is very pleased to see the high ranking and valuation of the TCL brand name, confirming the potential value of our strategic investments in TCL Group”, commented Mr. Murakami, Nam Tai’s Chairman.
The TCL Group is controlled by TCL Corporation, a PRC state-owned enterprise that has extensive sales and distribution channels in China. TCL Corporation’s scope of business includes the import and export of raw materials, the design, manufacturing, and sales and marketing of telephones, VCD players, color television sets, mobile phones and other consumer electronic products.
Nam Tai Electronics, Inc. is an electronics design and manufacturing service provider to some of the world’s leading original equipment manufacturers. Nam Tai manufactures telecommunication products, palm-sized PCs, personal digital assistants, linguistic products, calculators and various components including LCD modules and RF modules for cellular phones, transformers and LCD panels. The Company utilises advanced production technologies such as chip on board (COB), chip on glass (COG), chip on film (COF), surface mount technology (SMT), ball grid array (BGA), tape automated bonding (TAB), and outer lead bonding (OLB) technologies. Further information is available on Nam Tai’s web site at www.namtai.com.