Next Generation Solar Mobile Phone Shipments Planned For Early 2008
October 11, 2007: 04:01 PM EST
BEIJING, Oct. 11 /PRNewswire-FirstCall/ -- Hi-Tech Wealth Inc. , a leading Chinese consumer sales and marketing company engaged in the development and distribution of digital devices, today provided a business update regarding the launch of its Solar Mobile Phone in China.
"In the third quarter of 2007, we delayed shipment of approximately 30,000 Solar Mobile Phone units of the 50,000 we had expected to ship in order to make manufacturing improvements and in anticipation of our next generation version, the 4500, which we expect to commence shipping in early 2008," stated Dr. ZhengYu Zhang, Chief Executive Officer of Hi-Tech Wealth Inc. "While we are disappointed with the delay, the Solar Mobile Phones we did ship during the third quarter generated a net profit per phone despite the increased costs of manufacturing enhancements. Our sights are set on early 2008 when we expect our sales to reflect three key initiatives: a proactive Solar Mobile Phone marketing campaign to reinforce our brand leadership, expanded manufacturing capacity to quickly meet demand, and a potential new distribution channel to reach more consumers more effectively. Together we hope to make the Solar Mobile Phone the hottest high-end consumer technology product in China."
Jacques Ma, Chief Financial Officer of Hi-Tech Wealth Inc., concluded "In our experience, we have never witnessed customer demand like the initial demand for the Solar Mobile Phone. We generated over 100 orders from only one sixty-minute interactive television program in one of our test markets, for example. We believe that 2008 will be a transformative year for our Company as we roll out the new version of the Solar Mobile Phone as well as deliver additional products from our portfolio, like devices with digital TV functions for next year's Beijing Olympic Games. Over the long term, we are dedicated to building an innovative and diversified portfolio of electronic products that appeal to niche consumer markets."
About Hi-Tech Wealth Inc.
Hi-Tech Wealth Inc. is an integrated, multi-channel consumer sales and marketing company. Hi-Tech Wealth Inc. engages in the development and distribution of digital devices via direct response TV, internet sales, and through more than 1000 exclusive distributors throughout the PRC. Learn more about Hi-Tech Wealth Inc. at http://www.htwchina.com.
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