INNOCOM Announces Major Acquisition

SANTA MONICA, Calif., Feb. 15  /PRNewswire-FirstCall/ -- INNOCOM Technology Holdings, Inc. (OTC:INCM) (BULLETIN BOARD: INCM)  has entered into a letter of intent to acquire the entire equity interest of BODA Electronic Co., Ltd. ("BODA").

Mr. William Hui, Chairman and CEO of INNOCOM, said, "BODA is a leading logistic and distribution company in the China mobile phone industry with unaudited sales of $41 million in 2006. The estimated total cost of the acquisition is approximately $6.8 million, which we plan to finance through internal resources and/or bank borrowings."

Unlike other ordinary distributors, BODA is a unique components distributor with in-depth understanding with IC chips and chip design experience. The company expects BODA will strengthen INNOCOM's competitiveness in the industry and be able to provide quality services to a larger segment of customers.

About INNOCOM Technology Holdings, Inc.

INNOCOM is a leading mobile communication technology company. They have two principal business lines: mobile phone handset design and trading of mobile phone handsets and components. INNOCOM provides customized mobile phone design services to licensed manufacturers in China. Their services include hardware system design based on chipsets such as integrated circuits sourced from external suppliers, application software design and mobile phone handset casing design. In addition to design services, the company provides sourcing of mobile phone handsets and components for customers on a wholesale basis.

About BODA

BODA, with its strong logistic and distribution platform, provides timely and competitive services. These range from application solutions to component sourcing and delivery of finished product to a wide variety of customers in China. In addition, the company has set up a Joint Venture with Aurora Systems, Inc., a leading LCOS chip vendor in San Jose, Calif. This relationship allows the company to enter into HDTV market with its existing logistic capability.

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

Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results, performance and achievement in the future to differ materially from forecasted results, performance, and achievement. These risks and uncertainties are described in the Company's periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.

  Company Contact:
  INNOCOM Technology Holdings, Inc.
  Ashley Hull
  [phone] opt 1
  

  Investor Relations:
  SIG Consultants
  Doug Ward
  [phone]
  

DATASOURCE: INNOCOM Technology Holdings, Inc.



CONTACT:  Ashley Hull, INNOCOM Technology Holdings, Inc., [phone]

opt 1, ; investor relations, Doug Ward, SIG

Consultants, [phone], 

Copyright