ZHUHAI, China, Dec. 11 /Xinhua-PRNewswire/ -- Actions Semiconductor Co.,
Ltd. (Nasdaq: ACTS), one of China's leading fabless semiconductor companies,
today announced that it has entered into a distributor agreement with GMI
Technology Inc.
The agreement, effective December 8, 2006, establishes Actions as the
exclusive supplier of SoC's (system-on-chip solutions) to GMI, a leading Asian
distributor whose major vendors include Freescale, Realtek, and Toshiba. Upon
entering this agreement, GMI will only ship Actions' products, and no longer
ship products containing SoC's manufactured by competitors.
"As a leading semiconductor distributor in Asia, delivering the best
available products to our customers is a top priority for our company. Meeting
customers' stringent demands, Actions' products are highly innovative and have
an unbeatable price-to-performance ratio. Actions' success in continued
innovation and meeting market demand is further evidenced by their success
with their new Series 7500 products," commented Lewis Lo, President of GMI
Technology Inc. "Furthermore, we value their open platform, total solution
approach, and a high level of customer service. We look forward to further
collaboration with Actions."
"We are excited to have GMI join our global distribution network," stated
Nan Horng Yeh, CEO of Actions Semiconductor. "This agreement follows suit with
our recently announced partnership with World Peace, and represents a
milestone in our global marketing strategy. Looking forward, we will continue
to enhance our total solutions and ally with more downstream and upstream
partners, to enable our end market customers to enjoy high quality portable
media more conveniently."
About Actions Semiconductor
Actions Semiconductor is one of China's leading fabless semiconductor
companies, and provides mixed-signal and multimedia SoC solutions for portable
consumer electronics. Actions Semiconductor products include SoC's, firmware,
software, solution development kits, as well as detailed specifications of
other required components and the providers of those components. Actions
Semiconductor also provides total product and technology solutions that allow
customers to quickly introduce new portable consumer electronics to the mass
market in a cost-effective way. The company is headquartered in Zhuhai, China,
with offices in Beijing and Shenzhen. For more information, please visit the
Actions Semiconductor website at http://www.actions-semi.com .
About GMI
Founded in 1995, GMI has been dedicated in being a professional electronic
component distributor. As an leading Asian distributor, GMI's major vendors
include Freescale, Realtek, and Toshiba etc. GMI was built from the base of
information technology market in the last decade and has been transformed from
a small private company to a sizable regional group and become a solution
provider for selected markets. Over the years, GMI has adopted a unique
approach in the distribution business. GMI starts from the market side,
monitoring market demands and trends, to co-define the specifications and
doing system level development, and in some cases, even making boards for
customers.
"Safe Harbor" Statement Under the Private Securities Litigation Reform Act
of 1995
Statements contained in this release that are not historical facts are
forward-looking statements, as that term is defined in the Private Securities
Litigation Reform Act of 1995. Forward-looking statements, including
financial projections and forecasts, involve risks and uncertainties that
could cause Actions Semiconductor's actual results to differ materially from
our current expectations. Factors that could cause Actions Semiconductor's
results to differ materially from those set forth in these forward-looking
statements include customers' cancellation or modification of their orders;
our failure to accurately forecast demand for our products; the loss of, or a
significant reduction in orders from, any of our significant customers;
fluctuations in our operating results; our inability to develop and sell new
products; defects in or failures of our products; the expense and uncertainty
involved in our customer design-win efforts; the financial viability of the
distributors of our products; consumer demand; worldwide economic and
political conditions; fluctuations in our costs to manufacture our products;
our reliance on third parties to manufacture, test, assemble and ship our
products; our ability to retain and attract key personnel; our ability to
compete with our competitors; and our ability to protect our intellectual
property rights and not infringe the intellectual property rights of others.
Other factors that may cause our actual results to differ from those set forth
in the forward-looking statements contained in this press release and that may
affect our prospects in general are described in our filings with the
Securities and Exchange Commission, including our Registration Statement on
Form F-1 related to our initial public offering and secondary offering.
Actions Semiconductor undertakes no obligation to update or revise forward-
looking statements to reflect subsequent events or changed assumptions or
circumstances.
