See excerpts from last tens days (SETO PR).
1. SETO is already negotiating orders for very large quantities of consumer electronics products, such as DVD players and Power Tool batteries in container load shipments. Sales for these products are estimated at $50 million for this year and expected to grow as we increase capacity, which is in addition to the current $25 million revenue forecast for this fiscal year ending Jan.31, 2001.
2. One of these developed products is an ADSL (Asymmetric Digital Subscriber Line) a connecting device for very high-speed transmission over existing telephone lines for modems, movies, television, dense graphics and data.`` 'Ovum Virtual Press Center`` estimates 19 million XDSL (ADSL is one of the types of DSL) lines globally by 2003. SETO expects the marketing and technical review for a number of products will be completed shortly. The up to date list of new SETO products now under development, will be announced soon, along with a number of new potential JV partners, focused on Internet and Telecommunication products, said Gene Pian.
3. The first products to be launched are: (1) a Windows-based Net PC and NC terminal, (2) a 1000 S Web and handset for Internet access with built in modem, (3) a SetoTalk Standalone Internet Phone Device with Speaker Phone and Microphone, and (4) an ADSL modem for multi user applications. Other products, already in design phase, will follow in the coming months.
Mr. Gene Pian, president of SETO said, `` The new telecommunication products will be manufactured and marketed by wholly owned subsidiaries or joint venture partners of SETO Holdings, Inc. The immediate markets will be in SE Asia and China with expansion into the USA and Europe during first quarter of 2001. SETO (M) is already in negotiations for an ADSL system for a government project in Malaysia and is expect to be in production within 4-6 months. Estimated revenue for the first year for ADSL products alone is $4.4 million.'
4. FIMAS Electronics, a wholly owned subsidiary of SETO, has received an increase in orders of $5.7 million dollars over last year, from Philips Sound Systems, a division of Philips Group, NA for Multi Media speaker systems for computers.
Mr. Gene Pian said, ``this is the tip of the iceberg for this product line. The forecast is $110 million per month worldwide, for the current year. As Fimas increases production capacity and capital resources, we can secure more orders and increase our market share. Fimas is also in negotiations with Philips Sound Systems to be awarded exclusive distribution rights for South America, South Africa and the Middle East. Combining the Fimas manufacturing in Malaysia and China and the marketing by Fimas in these countries, we expect Fimas's growth to increase 100% for the year 2000.' |
