Syntax-Brillian Joins Asia Pacific Joint Venture to Manufacture Olevia LCD TVs in Nanjing, China
"This is a tremendous opportunity to further expand our presence in China and to grow the Olevia brand in parallel with the growth of China's increasingly affluent TV consumers," said James Li, president of Syntax-Brillian Corp. "This alliance, which combines our leadership in product branding with complementary expertise in production, materials, finance and distribution, is another important step in our ongoing strategy to capture greater market share in the global LCD TV market."
“This alliance, which combines our leadership in product branding with complementary expertise in production, materials, finance and distribution, is another important step in our ongoing strategy to capture greater market share in the global LCD TV market.”
The Nanjing manufacturing facility is scheduled to begin volume production in July 2006, with an initial production capacity of 150,000 units for the calendar year. The ultimate goal is for total output capacity of 300,000 units annually.
"Since entering the Hong Kong and China markets in August 2004, the Olevia brand has grown quickly and is currently one of the top three selling LCD TV brands in the 25"-29" category and among the top ten brands in the 35"-39" category in China according to DisplaySearch," said Li. "When operational, the Nanjing facility will significantly expand our current presence in China. Currently, we focus on eight east coast cities through five major consumer electronics distributors. We believe this alliance will open new Chinese markets for us as well as provide more cost-effective, just-in-time-inventory for our channel partners throughout China."
Syntax-Brillian's Olevia LCD TVs deliver a total quality digital entertainment experience with superior specifications, outstanding value, and an industry-leading warranty. Since introducing Olevia LCD TVs to North American consumers in 2004, the Olevia brand has steadily increased its popularity and is recognized as a leading LCD TV brand.
About Syntax-Brillian Corp.
Syntax-Brillian Corp. (www.syntaxbrillian.com) is one of the world's leading manufacturers and marketers of LCD and LCoS(TM) HDTVs and digital entertainment products. The company's lead products include its Olevia brand of widescreen HDTV-ready and HD Built-in LCD TVs -- one of the fastest-growing global TV brands -- and its next generation Gen II LCoS(TM) 720p and 1080p rear-projection HDTVs for the high-end video/audio market. Syntax-Brillian's global supply chain, Asian operations and North American sales channels position the company as a market leader in consumer and high-end HDTV and digital entertainment products.
Brillian is a registered trademark and LCoS is a trademark of Syntax-Brillian Corp. All other trademarks are the property of their respective owners.
Certain statements contained in this press release may be deemed to be forward-looking statements under federal securities laws, and Syntax-Brillian intends that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements include expectations regarding (i) the timing of commencement of manufacturing operations of the joint venture entity; (ii) the targeted production volume of the joint venture entity; and (iii) the impact of the joint venture on Syntax-Brillian. Syntax-Brillian cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include (a) changes in markets for the company's products; (b) changes in the market for customers' products; (c) the failure of the company's products to deliver commercially acceptable performance; (d) the ability of the company's management, individually or collectively, to guide the company in a successful manner; and (e) other risks as detailed in the company's Quarterly Report on Form 10-Q for the quarter ended Dec. 31, 2005.