Cirmaker Completes Initial Shipment of 146,000 Digital Set Top Boxes to Mainland China and Taiwan Marketplace Worth Approximatel
January 18 2005 - 12:40PM
PR Newswire (US)
Cirmaker Completes Initial Shipment of 146,000 Digital Set Top
Boxes to Mainland China and Taiwan Marketplace Worth Approximately
$4.0 Million (USD) Company Announces Marketing Initiative to
Introduce and Expand Product Offerings in North America NEW YORK,
Jan. 18 /PRNewswire-FirstCall/ -- Cirmaker Technology Corp.
(OTC:CRKT.OB) (BULLETIN BOARD: CRKT.OB) ,
http://www.cirmaker.com.tw/, which manufactures set top boxes
(STB's) for digital TV signal reception, LCD flat screens for
televisions and PC's, CPU coolers for computers and electronic
components, today announced that it has shipped 146,000 set top
boxes, worth approximately $4.0 million (USD) to Mainland China and
Taiwan. This delivery of product is in conjunction with the initial
order announced on September 22, 2004, for two hundred and forty
thousand digital set top boxes worth $6,669,600 million (USD) and
the subsequent announcement of its digital set top box entry into
the Taiwan market. These set top boxes, also known as digital
receivers, receive TV signals directly from satellites and do not
require a cable connection. The units have been produced by the
Company's (66%) owned subsidiary, Shaanxi New Century Electronic
Co., Ltd, in the Company's mainland facility. Bill Liao, Chief
Executive Officer and President of Cirmaker Technology commented,
"We are pleased to announce that we have completed a shipment of
146,000 set top boxes. This is a significant step forward for the
company. We experienced a great demand for our set top boxes from
the Mainland China and Taiwan marketplace and have begun to
successfully ship the product." He continued, "The digital set top
box market is expected to grow rapidly over the next few years and
we foresee our role in the industry to be an important one. We are
producing a highly reliable and technologically advanced satellite
set top boxes. We have the facilities to increase production, based
on future anticipated orders. We are aggressively pursing new
orders through our exposure at trade shows and our dedicated sales
force." Cirmaker also announced today that it has retained Ross
Huguet, Inc. to introduce and expand its product offerings through
marketing efforts in North America. Initially, Ross Huguet's focus
will be to build Cirmaker's brand awareness in North America.
Secondly, the Company will introduce and market Cirmaker's LCD
Televisions to major retailers, both the traditional retail stores
and through direct-to-consumer marketing campaigns. Ross Huguet's
experience ranges from consumer fast food chain marketing
(McDonald's) to electronic retail chain / catalogues (Crutchfield).
Commenting on this, Bill Liao said, "We are pleased to be working
with Ross Huguet, Inc. to increase Cirmaker's presence and consumer
awareness, eventually leading to sales in North America. They have
a great deal of expertise in marketing products to consumers, and
building brand awareness. We will initially work with them on
creating the demand for Cirmaker's LCD Televisions, while
developing additional consumer product offerings." About Cirmaker
Technology Corp. Headquartered in Taiwan with offices in New York
City, London, Beijing, and Guangdong province, Cirmaker Technology
Corp. manufactures cooling systems for laptop and personal
computers, LCD flat screen for PC's and TV's, electrical and
electronic components and 3G MHP (3rd generation multimedia home
platform) digital set top boxes for television sets. Cirmaker has
developed set top boxes that convert digital television broadcast
signals into analog formats so that analog TV sets can receive
digital programming. The system also receives, processes, stores
and broadcasts analog, digital and streaming media signals, and
supports pay-per-view and video-on-demand functions. Cirmaker
believes it is the only 3G MHP STB manufacturer operating in China
able to produce in volume a device that meets all the required
standards of Chinese broadcasting authorities. It also complies
with all international HDTV standards for high definition
television. The Company's subsidiary, Shaanxi New Century
Electronic Co., produces a new generation satellite set top box
that converts digital television broadcast signals into analog
formats so that analog TV sets can receive digital programming.
This device meets all the required standards of Chinese
broadcasting authorities. Because the Chinese government plans to
change all TV broadcast signals from analog to digital, there is a
significant demand in Mainland China for this product. For further
information on Cirmaker Technology Corp., please visit
http://www.cirmaker.com.tw/ Forward-Looking Statements The matters
discussed in this news release contain forward-looking statements,
including statements regarding the demand for set top box satellite
receivers in China, future sales made by Cirmaker in China, and the
potential success of the strategic alliance between Shaanxi Ruyi
Electric Co. and Cirmaker. These statements are subject to various
risks, uncertainties and other factors that could cause actual
results to vary materially from the results anticipated in such
forward-looking statements. Such risks, uncertainties and other
factors include Cirmaker's potential inability to raise additional
capital, the potential breach by the counterparty to the sales
agreement of its obligations to buy satellite receivers thereunder,
Cirmaker's potential inability to compete with other companies that
may be more experienced and better capitalized than Cirmaker,
changes in domestic and foreign laws, regulations and taxes,
changes in economic conditions, uncertainties related to the legal
systems in Cirmaker's target markets, including, China's legal
system and economic, political and social events in China and other
target markets, foreign relations between Taiwan, China and
Cirmaker's other potential target markets, a general economic
downturn, a downturn in the securities markets, Securities and
Exchange Commission regulations which affect trading in the
securities of "penny stocks," and other risks and uncertainties
detailed from time to time in Cirmaker's filings with the
Securities and Exchange Commission. These forward-looking
statements represent management's judgment as of the date of this
release. Cirmaker disclaims any intent or obligation to update
these forward-looking statements. You may register to receive
Cirmaker's future press releases and to be added to the Company's
distribution list by visiting: http://www.roiny.com/form.php.
Company Contact: Investor Relations Contact: Cirmaker Technology
Corporation ROI Group Associates, Inc. Charles R. Skeele Sarah
Shepard / Vice President General Manager Telephone: 212-495-0200,
ext. 17 Telephone: 917-639-4098 Email: Email: http://www.roiny.com/
DATASOURCE: Cirmaker Technology Corp. CONTACT: Charles R. Skeele,
General Manager of Cirmaker Technology Corporation,
+1-917-639-4098, ; or Investor Relations - Sarah Shepard, Vice
President of ROI Group Associates, Inc., +1-212-495-0200, ext. 17,
Web site: http://www.cirmaker.com.tw/
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