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T-Bay Holdings to Accelerate Launch of New Solutions

2007-10-23 15:52 1429

SHANGHAI, China, Oct. 23 /Xinhua-PRNewswire-FirstCall/ -- T-Bay Holdings Inc. (OTC Bulletin Board: TBYH) announced today that the Company plans to accelerate the launch of their new solutions from October to December, which is widely regarded as one of the best sales seasons of the year. T-Bay plans to introduce up to nine new solutions, two more than planned, in October and November in order to meet customers’ demands.

The Company will accelerate the design-to-production phase for deployment of new solutions by utilizing the latest technologies. It is expected two more solutions will be brought forward in the product roadmap, and nine solutions in total will be released in October and November. The accelerated development plan was made mainly in response to a growth in demand. By cooperating with VIA Technologies Inc.(VIA), MediaTek Inc., Ltd.(MTK), Anyka Inc.(Anyka), Infineon Inc.(Infineon), T-Bay is able to offer a wider variety of designs and options to their clients.

Xiaofeng Li, Chief Executive Officer of T-Bay Holdings said, “The diversity of our solutions has enabled us to cover the high-end, mid-end and low-end markets. T-Bay Holdings Inc. introduced five solutions in August and September, three of which were targeted to mid- and low-end markets while the other two were targeted to the high-end. Benefiting from the Chinese National holiday, and strong growth in the domestic market, sales of our solutions remain strong.”

According to the Ministry of Information Industry (MII), by June 2007, the total number of mobile phone users in China had already reached 500 million, however, only 38.3 units were owned in every 100 people. It is expected that 200 million new mobile phones will be made in China in 2008, and the market is expected to continue its strong growth.

Xiaofeng Li, Chief Executive Officer of T-Bay Holdings, added, “The business results during the National holiday were satisfactory. Our term is ready to aggressively gain more market share in the domestic market. The management expects growth of revenue when more solutions are introduced.”

About T-Bay Holdings Inc.

T-BAY conducts its mobile phone design business through its 95% owned subsidiary, Shanghai SunPlus Communication Technology Co., Ltd. (“SunPlus”). Established in October 2002, SunPlus is a Sino-foreign joint venture providing total solution and full-range design services to leading mobile handset brand owners in China. The broad spectrum of services that SunPlus provides include overall product design, mechanical design, module architecture design, software design, prototype production, product testing, manufacturing and after-sale technical support. The Company currently has a staff of 160, comprised mostly of engineers and software programmers.

SunPlus develops its mobile phone modules based mainly on the chipset platform provided by VIA, MTK, SKYWORKS, ANYKA, INFINEON. Historically, our customers included multinational brand names such as Motorola, NEC, Siemens, China Telecom, Panasonic and Alcatel. Our major customers in China include Feihu Commnunication, Shenzhen Henkai, Qiao Xing Famous Technology, Shenzhen LaiDi, Shenzhen Siecom and CECT.

Safe Harbor Statement Under The Private Securities Litigation Reform Act of 1995

The statements in this press release that relate to the Company’s expectations with regard to the future impact on the company’s results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur.

Source: T-Bay Holdings Inc.
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