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Comtech Group Enters Into New Supplier Agreement With Broadcom
~ The Company Secures a Purchase Order From Lenovo ~
SHENZHEN, China, Jan. 19 /PRNewswire-FirstCall/ -- Comtech Group, Inc.
(OTC:COMT.OB) (BULLETIN BOARD: COMT.OB) , a leading module design solutions
provider in China focused on the mobile handset and telecom equipment
industries, today announced that it has entered into a new supplier agreement
with Broadcom Corporation (NASDAQ:BRCM), a leading provider of highly
integrated silicon solutions enabling broadband communications.
Partnered with Broadcom, Comtech will include that company's technology and
chipsets in the development of module solutions being supplied to Comtech's
telecom equipment and mobile handset OEM customers in China. In addition,
Comtech plans to include Broadcom's technology and chipsets in its solutions to
consumer electronics OEMs, designed into products such as set-top boxes,
digital televisions, entertainment centers, wireless networks, VoIP products,
storage networks, among others.
"Broadcom is a leading enabler of broadband, datacom and wireless
technologies," said Jeffrey Kang, Chairman and President of Comtech Group. "We
are very excited about our new relationship with Broadcom. Being partnered
with Broadcom will allow Comtech to broaden our product lines, extend our reach
into new markets and enhance our competitive advantage. China's demand for
electronic products, such as mobile phones, PCs and DVD players, has
significantly increased, further boosting the need for semiconductor-related
devices."
According to IC Insights, the Chinese integrated circuit industry will increase
from US$19.2 billion in 2003 to US$61.9 billion in 2008, representing a
compound annual growth rate of 26.4%. China's share of the worldwide
integrated circuit market is expected to increase from 13.7% in 2003 to 23.5%
in 2008.
Separately, the new partnership with Broadcom has already helped Comtech secure
a purchase order from Lenovo Group Limited, which acquired IBM's personal
computing division in December 2004. Specifically, Comtech will provide Lenovo
with an Ethernet solution that incorporates Broadcom's chipsets.
About Comtech
Comtech Group, Inc. is a gateway to the high-growth technology market in China.
The Company is a module design solutions provider in China, focused on the
mobile handset and telecom equipment industries. The Company designs solutions
for mobile device products, including liquid crystal display (LCD) modules,
camera modules, persistent storage modules, input/output modules, sound system
and power supply modules. In the telecom equipment industry Comtech targets
optical solutions, data communication solutions, public switched telephone
network (PSTN) switching and wireless base stations.
Safe Harbor Statement
This press release includes certain statements that are not descriptions of
historical facts, but are forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities and
Exchange Act of 1934. These forward looking statements may include the
description of our plans and objectives for future operations, assumptions
underlying such plans and objectives and other forward looking terminology such
as "may," "expects," "believes," "anticipates," "intends," "expects,"
"projects," or similar terms, variations of such terms or the negative of such
terms. Such information is based upon various assumptions made by, and
expectations of, our management that were reasonable when made but may prove to
be incorrect. All of such assumptions are inherently subject to significant
economic and competitive uncertainties and contingencies beyond our control and
upon assumptions with respect to the future business decisions which are
subject to change. Accordingly, there can be no assurance that actual results
will meet expectations and actual results may vary (perhaps materially) from
certain of the results anticipated herein.
DATASOURCE: Comtech Group, Inc.
CONTACT: in Asia Pacific, Hope Ni, Chief Financial Officer,
; or in North America, Jason Golz of Financial Dynamics,
+1-415-439-4532, or , for Comtech Group, Inc.
Web site: http://www.comtech.com.cn/