VANCOUVER, CANADA -- March 7, 2005 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NYSE Symbol: NTE) announced that it has received a new customer order from a well-known Japanese multi-national company, to manufacture LCD panels for its electronic calculators, electronic dictionaries and electronic musical instruments.
“We are very glad that we have successfully won orders for LCD panels from such a big customer and added another name to our global customer list,” said Mr. Joseph Li, Chief Executive Officer of Nam Tai. “As new applications are found for LCD products in various industries, we are confident that the LCD market will continue to grow. The huge growth in the LCD market, also propelled by the conversion to full colour displays, image capabilities and high resolution, has enabled Nam Tai to capture the vast opportunities for its Color Super Twisted Nematic (“CSTN”) LCD business. On top of providing LCD panels, the addition of LCD modules capability will further strengthen our product portfolio in the LCD market, differentiating ourselves from other industry players through the provision of a one-stop solution to our customers.”
About Nam Tai Electronics, Inc.
We are an electronics manufacturing and design services provider to original equipment manufacturers of telecommunications and consumer electronic products. Through our electronics manufacturing services operations, we manufacture electronic components and subassemblies, including LCD panels, LCD modules, radio frequency modules, flexible printed circuit sub-assemblies and image sensors. These components are used in numerous electronic products, including cellular phones, laptop computers, digital cameras, copiers, fax machines, electronic toys, handheld video game devices and microwave ovens. We also manufacture finished products, including cellular phones, palm-sized PCs, personal digital assistants, electronic dictionaries, calculators and digital camera accessories for use with cellular phones.
Nam Tai has two Hong Kong listed subsidiaries, Nam Tai Electronic & Electrical Products Limited (“NTEEP”) and J.I.C. Technology Company Limited (“JIC”). Interested investors may go to the website of The Stock Exchange of Hong Kong at www.hkex.com.hk to obtain the information. The stock code of NTEEP and JIC in The Stock Exchange of Hong Kong are 2633 and 987, respectively. Investors are reminded to exercise caution when assessing such information and not to deal with the shares of the Company based solely on reliance of such information. The results of NTEEP and JIC only represent a part of the results of the Company and there are GAAP differences in the financial statements of NTEEP and JIC, when compared with the financial statements of the Company. Furthermore, different subsidiaries of the Company may have a different peak season during a year.