SHENZHEN, China, Dec. 21 /Xinhua-PRNewswire/ -- Diguang International Development Co., Ltd. (OTC Bulletin Board: DGNG) ("Diguang"), an emerging, China-based leader in the manufacture of CCFL and LED backlights for the LCD display industry, today provided an update on 2007 shipments to its customer LG.Philips LCD and a forecast on shipments in the first half of 2008.
(Logo: http://www.prnasia.com/sa/200708301921.JPG )
Since January of 2007, the Company’s cumulative shipments to LG.Philips have totaled approximately 2 million backlight units, primarily reflecting market demand for 7" backlights. Diguang’s ongoing business relationship with LG.Philips has further enhanced the Company’s position in the mid-size TFT-LCD market. New product orders for backlights ranging from 7" to 10.4" support management expectations for estimated shipments totaling between 1.5 million and 1.8 million units in the first half of 2008.
“We see the outlook for continued strong shipments to LG.Philips LCD, especially an increased emphasis on LED backlights, as an endorsement of our technology leadership and quality assurance standards,” commented Song Yi, the Company’s President and CEO. “We look forward to working with this tier-one industry leader in the coming year.”
About LG.Philips LCD
LG.Philips LCD Co., Ltd (NYSE: LPL; KRX: 034220) is a leading manufacturer and supplier of thin-film transistor liquid crystal display (TFT-LCD) panels. The company manufactures TFT-LCD panels in a wide range of sizes and specifications for use in TVs, monitors, notebook PCs, and various applications. LG.Philips LCD currently operates seven fabrication facilities and four back-end assembly facilities in Korea, China and Poland. The company has a total of 23,000 employees operating in ten countries around the world. Please visit http://www.lgphilips-lcd.com for more information.
About Diguang International Development Co., Ltd.
Diguang, through its subsidiaries, specializes in the research, development, production, sale and distribution of backlights and backlight technologies. A backlight is the typical light source of a liquid crystal display (LCD). The Company is focused on providing LED and CCFL backlights for international producers of televisions, monitors, cellular phones, digital cameras, DVDs and other home appliances. Diguang currently develops an average of approximately 50 new products per month. Diguang is a Nevada corporation with its manufacturing subsidiary located in Shenzhen, PRC, and its sales and marketing subsidiary located in the British Virgin Islands.
Safe Harbor Statements
This press release contains forward-looking statements made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements are based upon the current plans, estimates and projections of Diguang’s management and are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: uncertainties related to expected orders, business conditions in China, weather and natural disasters, changing interpretations of generally accepted accounting principles; outcomes of government reviews; inquiries and investigations and related litigation; continued compliance with government regulations; legislation or regulatory environments, requirements or changes adversely affecting the businesses in which Diguang is engaged; fluctuations in customer demand; management of rapid growth; intensity of competition from other providers of backlights; timing approval and market acceptance of new product introductions; general economic conditions; geopolitical events and regulatory changes, as well as other relevant risks, including but not limited to risks outlined in the Company’s filings on Forms 10K and 10Q and other periodic filings with the U.S. Securities and Exchange Commission. Diguang does not assume any obligation to update the information contained in this press release.
For more information, please contact:
Company Contact:
T.C. Shen, Assistant to the President
Diguang International Development Co., Ltd.
Tel: +1-626-593-5486
Investor Relations Contact:
Sean Collins, Senior Partner
CCG Elite
Tel: +1-310-477-9800 x202
