HUIZHOU, China, Oct. 25 /PRNewswire-Asia/ -- NIVS IntelliMedia Technology Group, Inc. ("NIVS" or the "Company") (NYSE Amex: NIV), a consumer electronics company that designs, manufactures and sells intelligent audio and visual products and mobile phones, today announced that they were recently recognized as the top computer peripheral speaker supplier by GOME Electrical Appliances Holding, one of the largest privately owned electrical appliance retailers in mainland China and Hong Kong.
In the six-month period beginning in April of this year NIVS' computer peripheral speaker contributed to 12% of GOME's sales in that category. GOME recently expanded their supply relationship with the Company at a GOME merchandising conference last week by asking for the delivery of a greater variety of the NIVS branded products.
Mr. Tianfu Li, NIVS Chairman and CEO commented, "We're certainly pleased that our initial products delivered to GOME were well received and appreciate the opportunity to expand our product offerings throughout the GOME retail network, allowing for an awareness of the NIVS branded products among a greater number of consumers"
About NIVS IntelliMedia Technology Group, Inc.
NIVS IntelliMedia Technology Group is an integrated consumer electronics company that designs, manufactures, markets and sells intelligent audio and video products and mobile phones in China, Greater Asia, Europe, and North America. The NIVS brand has received "Most Popular Brand" distinction in China's acoustic industry for three consecutive years, among numerous other awards. NIVS has developed leading Chinese speech interactive technology, which forms a foundation for the Company's intelligent audio and visual systems, including digital audio, LCD televisions, digital video broadcasting ("DVB") set-top boxes, peripherals and more.
About GOME Electrical Appliances Holding Limited
GOME Electrical Appliances Holding Limited is one of the largest privately-owned electrical appliance retailers in mainland China and Hong Kong. It was founded in Beijing in 1987. Its brand name "GOME" was first adopted in 1993 and since 1999; it has developed outside Beijing and established retail outlets in other China cities. It was listed on the Hong Kong Stock Exchange in 2004. As at 31 December 2009, the total store count reached 726 stores, including 76 flagship stores, 625 standard stores and 25 specialized stores. The total network spans across 198 cities. The total operating area of the Group's stores amounted to approximately 2,675,000 square meters and the average area of individual stores was approximately 3,685 square meters.
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding: the significance of Mr. Wasielewski's appointment on the Company's business and operations; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
For more information, please contact:
Company Contact:
Alex Chen
Chief Financial Officer
United States
646-380-2454
Jason Wong
Vice President Investor Relations
Tel: +86-138-299-16919
Email: jason@nivsgroup.com
Investor Contact:
BPC Financial Marketing
United States & Canada
John Baldissera
Tel: +1-800-368-1217
