SETO Holdings Inc. Subsidiary, Fimas Electronics, Receives Two Orders For PHILIPS Multi Media Sound Speaker Systems for 120,000 Units Per Month
Business/Technology Editors
BRIARCLIFF MANOR, N.Y.--(BUSINESS WIRE)--April 10, 2000--SETO Holdings Inc. (OTCBB-SETO) today announced that it has received two orders totaling 120,000 PHILIPS Multi Media Sound Speaker Systems. One order is from an authorized Malaysian government computer supplier and the other is from a Hong Kong wholesale distributor.
The forecast for this product in year 2000 is $4 million dollars at the current quantity level.
Gene Pian, President, CEO of SETO Holdings, Inc. said "the growth we are experiencing with the Fimas Electronics subsidiary of SETO is mainly due to the fact that all products manufactured by Fimas are high quality at very competitive prices. These are the main reasons why SETO is capturing a larger share of the Asian market. SETO is now planning to enter north and south America and European markets with many of these products in the very near future. SETO also expects the growth in Asia to continue and is confident that Fimas Electronics, consumer products, will be a major revenue producer this year, well beyond the original forecast of $36 million for the Fimas Electronic subsidiary. |
