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Newsroom - Clients - TBYH
The following news and investment research items reflect some of the recent business activity for selected clients of Empire Relations Group, Inc. Additional information for investment research can be found in the featured clients section. News and investment research are for informational purposes only.
T-BAY Holdings, Inc.
T-BAY Holdings Announces Its Product Development Plan
EAGLE, Idaho, May 16 /PRNewswire-FirstCall/ -- T-BAY Holdings, Inc. (OTC Bulletin Board: TBYH - News) today announced its complete Product Development Plan for FY2007 (year ending March 31, 2007). T-BAY is on track to bring to market 35 total design solutions based on seven mainboards, including two 3G phones, a 40 percent increase over the previous fiscal year. T-BAY, through its subsidiary Shanghai SunPlus Communication Technology Co., Ltd., provided 25 design solution products based on five mainboards during FY2006 (year ending March 31, 2006).
Mr. Xiaofeng Li, CEO of T-BAY Holdings, stated: "I look forward to another successful year for T-BAY with over 1.6 million units of T-BAY designed products expected to be sold in the fiscal year ended March 31, 2007. This would be a 33 percent increase over the previous year where T-BAY sold approximately 1.2 million units."
The announcement by the Chinese government approving agreements with Chinese companies regarding 3G technology puts T-BAY in a prime position to provide solutions to those companies immediately upon their ability to utilize them. Mr. Li responded to this announcement that "this is another example of T-Bay's forward-looking design strategy."
Mr. Li noted that "with T-BAY's chipsets solutions being provided by SKYWORKS, this enables us to take advantage of extremely flexible design solutions, something that is highly appreciated by our customers." The functions included: PC camera, SMS, MMS, Email, FM Radio, Handwriting, T- Flash/USB port 3GPP/H.263, MPEG-4, MP3, Dictionary, WAP, and 2.0 Mega Pixel camera.
In FY 2007, T-BAY will base its design solutions on mainboards of its very successful 9501, 7101, 7102, 7501, 7502, 7701 and 7702 product lines which have been so profitable in FY2006. Additionally, the upgraded plus-version of the original 9701, 9702 and 9501 product lines, which continue to sell very well in the market, are in design completion process, in order to be released within 30 days. The #71 and #77 series (cited above) are expected to be released in the 2nd Quarter, with the #75 series to follow in the 3rd Quarter.
Mr. Li specifically pointed out that "the first 3G phone solution is set to be in the market in the 4th Quarter. This means that we continue to be right on schedule. It is gratifying that our professional team is achieving the goals we have previously announced - particularly in our most forward- looking advanced designs." New functions such as TV Output, 3D game engines and Mobile TV will be added in different designs.
Mr. Li emphasized that "the flexibility that we have added into our designs allows us to rapidly adjust to changes in market conditions and trends and incorporate the latest technology. T-BAY's constant market research provides essential and timely feedback from its many partners and customers."
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 SKYWORKS. Currently, major customers of SunPlus include CECT, Panda Electronics and Siemens Mobile.
SunPlus was jointly formed by Wise Target International Limited, Amber Link International Limited and Shanghai Fanna Industrial Product Design Co., Ltd. Wise Target and Amber Link are 100% subsidiaries of T-BAY Holdings, Inc. and they altogether hold 95% shareholding in SunPlus.
Safe Harbor Statement Under The Private Securities Litigation Reform Act of 1995: The statements in the 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.
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About T-BAY Holdings
T-BAY Holdings, Inc. owns 95% of Shanghai Sunplus Communication Technology Co., LTD. (“Sunplus”). Sunplus is a leading telecommunications device design company specializing in products in the cellular phone, MP3 players, PDA's and other hand-held electronic products.
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