hhmmm...still nobody here...that should change when we hit 100<gg>.
ISSY-LES-MOULINEAUX, France--(BUSINESS WIRE)--Dec. 20, 1999-- Wavecom S.A. (NASDAQ: WVCM; Nouveau Marche: WAVECOM), a leading developer of digital Wireless Standard Modules (WISMO(TM)), today signed an agreement with China Kejian Corporation Limited, for a substantial order of WISMO(TM) modules. The agreement, which will enable China Kejian to develop and manufacture GSM mobile phones for mainland China, calls for an initial order of 200,000 WISMO2C modules to be delivered within the first 15 months of production.
Entering mass production at the end of 1999, Wavecom's WISMO2C has already generated great interest among manufacturers who have found that WISMO technology provides an efficient and innovative solution for entering the GSM world with cutting edge products.
"Only with Wavecom's WISMO technology have we acquired the ability to bring a full-function GSM telephone product to the Chinese market quickly while leaving us the flexibility to evolve in the future," said Mr. Kok Kin Hok, Managing Director of China Kejian. "We also wanted the WISMO2C's dual-band capability, to cover a range of GSM networks."
The contract marks Wavecom's second success at inking an agreement with one of the select few manufacturers officially licensed by the Chinese government. With this contract in hand, Wavecom now holds clear claim to being a significant partner with those companies best positioned to make the most of the emerging and potentially immense market for GSM handsets in mainland China.
"This contract confirms our business model with the WISMO2C. Once again, Wavecom technology has been recognized as providing realistic and winning solutions to launching the wireless world in the Chinese market," said Wavecom Chief Executive Officer Aram Hekimian. "We are pleased how it also confirms Wavecom's presence in the world's largest potential GSM market."
The contract involves the second-generation dual-band GSM WISMO2C module, the latest addition to the WISMO product family. WISMO, which stands for Wireless Standard Module, is a compact, fully integrated device containing all of the software, hardware and other technology needed to implement a wireless telecommunications standard.
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Founded in 1984 at Shenzhen, China Kejian is one of the companies under the State-owned Chinese Academy of Sciences, focusing on the manufacturing of medical equipment and wireless communication terminals. In 1991, China Kejian became the first hi-tech company to be listed on the Shenzhen Stock Exchange.
China Kejian is one the leading manufacturers of wireless terminals in China. The company designs, produces and distributes a series of wireless terminals for the Chinese market. It forecasts a 30% increase in sales for the current fiscal year, which ends March 31, 2000 and another 30% for the year after.
Founded in 1993 and headquartered near Paris in Issy-les-Moulineaux, Wavecom designs, develops, manufactures and sells a range of fully integrated plug-in modules for GSM communications. Divided into three distinct lines -- WISMO modules, external modems and integrated modems -- all Wavecom products are based on its unique WISMO technology. WISMO, which stands for Wireless Standard Module, is a compact, fully integrated device containing all of the software, hardware and other technology needed to implement wireless telecommunications. Designed for use in a wide variety of systems and wireless terminals, WISMO(TM) modules constitute complete implementation of the GSM Phase 2+ standard in the 900 MHz, 1800 MHz and 1900 MHz bands. Company revenues totaled 19.57 million euros in 1998 and 30 million euros in the first nine months of 1999. Wavecom is publicly traded on the Nouveau Marche exchange in Paris and the NASDAQ stock market in the US.
This press release contains forward-looking statements that relate to the Company's plans, objectives, estimates and goals. Words such as "expects," anticipates," "intends," "plans," "believes," and "estimates," and variations of such words and similar expressions identify such forward-looking statements. The Company's business is subject to numerous risks and uncertainties, including probable variability in the Company's quarterly operating results, manufacturing capacity constraints, dependence on a limited number of customers, variability in production yields, dependence on third parties and risks associated with managing growth. These and other risks and uncertainties, which are described in more detail in the Company's Prospectus dated June 9, 1999 included in its Registration Statement on Form F-1 (Registration No. 333-10372) filed with the Securities and Exchange Commission, could cause the Company's actual results and developments to be materially different from those expressed or implied by any of these forward-looking statements. |
