VANCOUVER, CANADA -- January 27, 2003 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NYSE Symbol: NTE; CBOE Symbol: QNA;) today announced that its major subsidiary J.I.C. Technology Company Limited (“J.I.C.”) (HKSE Stock code: 987), a leading Hong Kong LCD panels manufacturer, has formed a strategic partnership with the award-winning developer and supplier of advanced public access solutions, iMagic Infomedia Technology Limited (“iMagic”), to jointly develop the public access solutions business.
iMagic Infomedia Technology Limited is the parent company of PowerPhone Network Limited. Globally recognized as a leader in its field, iMagic has extensively deployed its interactive multimedia voice and data terminals in Asia and the U.S. iMagic first received industry attention when it became the first company in the world to commercially launch a touch screen web phone in 1996. Since then, iMagic has developed numerous generations of front-end products such as the PowerPhone series and the new iMagic Kiosk, an interactive communications and transaction station. iMagic's solutions can be found in a number of international airports, convention centres, rail and subway stations, hotels, shopping malls, and other high traffic locations around the world. In addition to its success as a developer of front-end products, iMagic has also developed a highly sophisticated and powerful back-end management system, which enables operators to track usage, revenue, system status, and content delivery.
iMagic has won projects from PRC’s leading enterprises, including Beijing Capinfo (a Hong Kong listed company), Beijing Telecom and Shanghai Telecom. It also provides the services to various departments of the HKSAR Government, such as Leisure & Cultural Services Department, Buildings Department, Cyberport, Hong Kong International Airport, and the Kowloon-Canton Railway Corporation. In addition, it provides products and services to major corporations such as Bank of East Asia, Motorola and Blue Cross. Blue Cross is utilizing the iMagic Kiosk to sell their PRC-related travel insurance at railway stations.
With its strategic partnership with Beijing Capinfo, iMagic has been selected as a vendor to supply interactive multimedia solutions in Beijing in preparation for the Olympic Games in 2008.
“In view of a great potential growth of the advanced public access solutions business, we believe it presents a great opportunity for J.I.C. to make this investment," commented Mr. Ivan Chui, Managing Director of J.I.C. “We are very pleased to work with such a world leader in the multimedia interactive kiosk solution industry to jointly develop public access solutions business. Leveraging on iMagic’s strong PRC networks and J.I.C.’s advanced production technologies and expertise, we strongly believe that both companies are in a win-win situation to capture the enormous business opportunities in China. In the future, J.I.C. will continue to seek suitable strategic investments which benefit its shareholders.”
“We are proud to have J.I.C. investing in our company and I am convinced that they will bring great value to our business,” said Mr. Peter Tsang, CEO of iMagic Infomedia Technology Limited. “Further to their core electronics business, iMagic can also help expand their product line and markets in Greater China. With the respective strengths of J.I.C. and iMagic, and with our shared vision of Greater China and the global market, we shall be working hand in hand. I believe that the potential for this union can bring in enormous opportunities.”
iMagic Infomedia Technology Limited, the parent company of PowerPhone Network Limited, is the world’s leading developer and provider of public multi-media communication platforms. A convergence of voice, data, video, audio capabilities and payment technologies, iMagic’s solutions are interactive communication and information platforms that provide a rich end-user experience while providing new revenue streams to service providers. iMagic is a privately owned company that is based in Hong Kong and exports its technology around the world. As the developer of the world's first commercially deployed web payphone, PowerPhone, and the highly advanced total kiosk solution, iMK, iMagic has contributed significantly to the field of public communications. The company was awarded the Financial Times Global Telecom's ‘Most Innovative Fixed Product of the Award, 1999-2002’. For more information about iMagic, please contact David Kim at Tel: (852) 2169 7204 or visit their website at www.imagic.com.hk.
About Nam Tai
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, wireless communication terminals and their modules, 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 at www.namtai.com.