HONG KONG, Oct. 27, 2017 /PRNewswire/ -- SMIT Holdings Limited ("SMIT" or the "Company," together with its subsidiaries, the "Group") (stock code: 2239), a world leading CAM supplier and a major mPOS supplier in China, announced its cooperation with Beijing Gehua CATV Network Co., Ltd. ("BGCTV") to replace set-top boxes in hotels BGCTV serves in Beijing with its self-developed USB CAM product, marking the Company's foray into the hotel market in Mainland China and success in expanding its income source.
The partnership entails using more compact and stylish SOC USB CAM product developed by SMIT with integrated digital TV sets, replacing set-top boxes. SMIT's USB CAM product meets the highest safety requirement of the NOVEL SUPERTV hardware platform. With the set-top box taking up space and requiring installation, involving cabling and use of a remote control, it does not agree with hotel decors nor does it give the best user experience. SMIT's USB CAM product, however, is easy to install, the same as plugging a USB into the TV set, without the need for remote controls, thus promises users a better usage experience.
BGCTV was established in September 1999 at the approval of The People's Government of Beijing City. It is the only operator who can build, develop, operate, manage and maintain a cable TV network in Beijing. A New Technology Enterprise endorsed by the Beijing Municipal Science & Technology Commission, it operates broadcasting and transmission of TV programs and provides broadcasting TV network information services. It was on the third year "Top 30 National Cultural Enterprises" list announced on 13 May 2011 and the ninth year list announced on 11 May 2017. Over the years, it pursued mergers and acquisitions of cable TV operations in regions and counties near and far, and by February 2002, made the goal of "one city, one network". Today, with its network covering 18 regions and counties in the city and serving more than five million users, BGCTV is a super-size cable TV fiber optic network operator. There are several thousand hotels in Beijing with over a million rooms together, meaning the market has a huge potential.
Mr. Huang Xueliang, Chairman and Chief Executive Officer of SMIT, said, "The Group has kept investing resources in product R&D aiming to enhance product quality as well as its competitiveness. USB is the most popular and widely adopted technological interface today, found in most TV terminal equipments in the world. The technological breakthrough the Group managed is proof of its technological leadership in the industry, and taking its USB CAM into hotels has a symbolic significance as that paves the way for the Group to tap the hotel market and to achieve a strong growth in the future."
About SMIT Holdings Limited (Stock code: 2239)
SMIT Holdings Limited is a leading security devices provider for pay TV broadcasting access worldwide and for mobile point-of-sale, or mPOS, payment systems in China. The Company's main product types are CAMs and mPOS devices. According to Frost & Sullivan, the Company was the largest CAM provider globally by both sales volume and revenue in 2014 and for the first half of 2015. In addition, the Company was a major mPOS supplier in China. This year, the Company expands into the new O2O smart terminals and blockchain servers businesses, successfully extending the importance of security to different businesses and arenas.
