VAN NUYS, Calif.--(BUSINESS WIRE)--TechnoConcepts, Inc. (OTCBB:TCPS),
today announced that its Chinese subsidiary, Jinshilin Techno Ltd.
(Jinshilin), has signed a Memorandum of Understanding (MOU) with
Changzhou Xingqiu Electronic Co., Ltd. (XINGQIU), a respected
manufacturing company that concentrates on the design, sale and
production of high–quality communication
devices, high-volume electronics, and audio and video products.
Antonio Turgeon, Chairman and CEO of TechnoConcepts, made the
announcement, saying: “This agreement
establishes the framework in which XINGQIU will fabricate Jinshilin’s
IPTV Set-Top Box products. XINGQIU will finance and manufacture Jinshilin’s
IPTV Set-Top Boxes in accordance with delivery requirements and project
specifications provided by Jinshilin’s
customers.” Turgeon added: “We
are pleased to enter into this strategic business relationship with
XINGQIU. They have decades of product design and manufacturing
experience, and they possess the expertise and capacity to deliver
Jinshilin’s products in a timely and cost
effective manner. Under the terms of the MOU, Jinshilin and XINGQIU plan
to co-develop, market, and sell successive generations of Set-Top Boxes.”
Jinshilin expects to ship two million Set-Top Boxes by the end of 2009,
according to its Cooperation Agreement with Shanghai Forests Information
Technology Co. Ltd., subject to project authorization by the Television
and Broadcast Bureau of the Henan Province in China. This strategic
association with XINGQIU will ensure that shipments are delivered in
compliance with project milestones.
About Jinshilin Techno Ltd.
Jinshilin Techno Ltd. is TechnoConcepts' subsidiary based in Shanghai,
China, providing marketing, sales and technical support for True
Software Radio(TM) technology in China. Jinshilin also designs and sells
products for Internet Television (IPTV), Stream Media Protocol
Processing, and Broadcasting Software for IPTV-Set-Top Boxes. Jinshilin
expects future generation set-top boxes to will support multi-protocol
wireless connectivity with television, DVD players and other multi-media
appliances, by integrating TechnoConcepts’
True Software Radio(TM) technology.
About Changzhou Xingqiou Electronic Co., Ltd.
Changzhou Xingqiu Electronic Co. Ltd. concentrates on the design, sales
and production of high–quality communication
devices, high-volume commercial electronics, and Audio and Video
products . XINGQIU researches and develops hi-tech products to satisfy
specific customers’ needs. Their products
include GPS, DVD Players, Portable DVD Players, Car DVD Players, Digital
DVD Home Theater products, DVD+RWs, TFT TVs, large-screen displays, and
others. XINGQIU earned the ISO9001:2000 International Accreditation for
their strict and effective quality assurance system. XINGQIOU’s
products comply with international authority safety standards, such as
America’s UL and European Union’s
CE. In the challenging global environment, XINGQIU insists on expanding
its markets by focusing on first-class products, reliable quality, cost
competency, and superior service. XINGQIU’S
DVD products and audio products have been exported to dozens of
countries, including U.S.A., Germany, U.K., France, Japan, Italy and
Holland. The company is located in City of Changzhou, Jiangsu province,
China.
About TechnoConcepts
TechnoConcepts (OTCBB:TCPS) designs, develops and markets semiconductors
for wireless communications. The Company has developed and patented True
Software Radio(TM), a proprietary technology that creates convergence
for the wireless industry. True Software Radio(TM) chipsets are designed
to enable cell phones, PDAs, laptops, and other mobile devices with
different radio frequencies, standards, and protocols to adjust by
software command so that they can communicate with each other across
otherwise incompatible networks, without multiple radios. True Software
Radio(TM) chipsets replace the front end, I/F processing, ADC, and
digital filtering sections of digital radios. Because the technology
simplifies design and reduces component costs, the Company believes that
True Software Radio(TM) is an ideal platform for original equipment
manufacturers (OEMs) and original design manufacturers (ODMs) to develop
new wireless broadband, mobile data, cellular, and other next-generation
wireless applications. More information is available at www.technoconcepts.com.
Safe Harbor Statement under the Private Litigation Reform Act of 1995 -
Forward-looking statements in this release do not constitute guarantees
of future performance. Such forward-looking statements are subject to
risks and uncertainties that could cause actual results to differ
materially from those anticipated. Such statements may relate, among
other things to expected financial and operating results, the expected
acceptance of the Company's products, the usefulness and benefits of the
Company's products generally and the acceptance of the Company's
technological solutions and its ability to achieve its goals, plans and
objectives. The risks and uncertainties that may affect forward-looking
statements include among others: difficulties providing products that
meet the needs of customers, difficulty in developing new products,
difficulty in relationships with vendors, suppliers and customers,
difficulty in introducing products in the marketplace and gaining their
acceptance, difficulty gaining necessary governmental approvals,
difficulty facing the intense competition present in the wireless
communications industry, the Company's limited operating history, its
inexperience in operating internationally and difficulty managing
potentially rapid growth. For a more detailed discussion of the risks
and uncertainties of TechnoConcepts' business, please refer to the
Company's Annual Report on Form 10-K for the fiscal year ended September
30, 2005, filed with the U.S. Securities and Exchange Commission and as
subsequently amended. The Company assumes no obligation to update any
forward-looking statement contained in this press release.
