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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 That China Mobile Phone Market Expected to Exceed 400 Million Users by Year End 2005
NEW YORK, Oct. 20 /PRNewswire-FirstCall/ -- T-Bay Holdings, Inc. (OTC Bulletin Board: TBYH - News) announced today that according to recent reports, the market for mobile phone users in mainland China is expected to exceed 400 million by the end of 2005. As announced on September 9, 2005, T-Bay Holdings, Inc. acquired a 95% stake in Shanghai Sunplus Communication Technology Co., LTD., ("Sunplus") a leading telecommunication devices design company specializing in products such as cellular phones, MP3 players, PDA's and other hand-held electronic products. For the year ended March 31, 2005, Sunplus reported $33.86 million in revenue with $5.98 million in net income.
China is by far the world's largest market while major phone producers such as Nokia and Motorola have increased their investment in China during the first half of 2005. In the first half of 2005, Alcatel and Fujitsu announced participation in a joint venture to build mobile networks for 3G services in China. Sunplus has also launched its own 3G research and development program.
Xiaofeng Li, Chief Executive Officer of Sunplus commented on the recent reports, "Sunplus competes in the largest and fastest growing market in the world as measured by unit size. Our software, hardware and design expertise allows us to position our company with significant advantages over much of our competition. The introduction of 3G services in China coupled with the Chinese consumers' desire for the latest technology should continue to fuel the double digit market growth for the foreseeable future."
About Sunplus
Established in October 2002, Shanghai Sunplus Communication Technology Co., Ltd. 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 includes 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, mostly engineers and software programmers.
Sunplus develops its mobile phone modules mainly based on the chipset platform provided by Skyworks. The first module developed by Sunplus was used by Panda Electronics for making 150,000 units of their mobile phones. 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 investment companies specializing in telecommunication business and 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.
Jack Zeng
Tel:(86) 135 0228 9836
Email: zeng888888@hotmail.com
Philip Wang
Tel:(86) 021 2402 8587
Email: philipw@sunpluschina.com.cn
Justin Eastland at: 208-342-6000
URL: www.sunpluschina.com.cn
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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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