Cogo expects to begin recording revenue from its Intel solutions in the third quarter of 2010 and anticipates the business will ramp through 2011. In the consumer segment, Cogo will focus on embedded solutions across a range of products, including mobile Internet devices ("MID"), car PC systems, home gateways, IPTV set top boxes, digital signage, and Karaoke systems. Cogo believes its installed base of approximately 500 handheld and digital media customers will provide a cost effective approach for Intel to penetrate China's massive embedded market. Additionally, Cogo expects to work with Intel in other fast developing Industrial markets, such as the smart grid and auto electronics.
"We're extremely pleased to have Intel as one of our key design partners. We expect this new relationship to open up huge new markets for our embedded system solutions in both the consumer and Industrial verticals and view the partnership as clear validation of our strong position in China," commented Jeffrey Kang, CEO of Cogo. "We have strong customer relationships and great experience in China's embedded markets, and we will work with Intel closely to offer customized solutions to meet the unique requirements of the Chinese market. The Intel brand speaks for itself, and we are excited to work closely with this market leader."
About Cogo Group, Inc.:
Cogo Group, Inc. (NASDAQ: COGO) is a leading provider of customized module and subsystem design solutions in China. The Company believes it acts as a proxy to China's technology industry as it works with virtually all the major ODMs and OEMs in China. Cogo leverages these relationships and combines their IP to create designs that Cogo then sells to electronic manufacturers. These designs allow manufacturers to reduce their time to market for new products and ultimately increase sales. Cogo focuses on the telecommunications equipment, digital media and industrial applications end-markets for their customized design modules while also offering business and engineering services to their large telecommunications equipment vendor customers. Over the last fifteen years, Cogo has grown its customer list to include nearly 1,500 manufacturers across the telecommunications equipment, digital media and industrial applications markets, covering both multinational Chinese subsidiaries and Chinese domestic companies.
Intel (NASDAQ: INTC), the world leader in silicon innovation, develops technologies, products and initiatives to continually advance how people work and live. Additional information about Intel is available at www.intel.com/pressroom and blogs.intel.com.
For further information:
H.K.: +852 2730 1518
U.S.: +1 (646) 291 8998
Fax: +86 755 2674 3522
Safe Harbor Statement:
This press release includes certain statements that are not descriptions of historical facts, but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward-looking statements may include statements about our proposed discussions related to our business or growth strategy such as growth in consumer and industrial businesses and businesses with Intel, which are subject to change. Such information is based upon expectations of our management that were reasonable when made, but may prove to be incorrect. All such assumptions are inherently subject to uncertainties and contingencies beyond our control and upon assumptions with respect to future business decisions, which are subject to change. For further descriptions of other risks and uncertainties, see our most recent Annual Report filed with the Securities and Exchange Commission (SEC) on Form 10-K, and our subsequent SEC filings,. Copies of filings made with the SEC are available through the SEC's electronic data gathering analysis retrieval system (EDGAR) at www.sec.gov.
SOURCE Cogo Group, Inc.
|Cogo Group, Inc.
Investor Relations of Cogo Group, Inc., H.K.
Phone: +852 2730 1518, U.S.
Phone: +1-646-291-8998, fax
Phone: +86 755 2674 3522
Email Contact Email Contact