An order for 15m handsets seems to stretch the bounds of credability (especially when you combine it with the 10m order from August <g>).
From what I can tell, Sewon is an OEM manufacturer. They supply SK Teletech (which is owned by SK Telecom) and a couple of other companies. Here is a press release from them dated Oct 16th. There are couple of more that are dated later on the Korean version of their site.
I have also tried finding a stock quote (such a huge order would cause a run). Unfortunately, Yahoo doesnt have a Sewon Telecom listed....there are 3 different Sewons. The only one whose stock is moving is Sewon Precision whose stock is up 15%.
quote.yahoo.com
sewon-tele.com
- Initial Shipment From a 1.5 Mil. Supply MOU
_- First Kosdaq-Listed Wireless Handset Maker to Land in China
_Sewon Telecom has concluded a deal to export 550 thousand units of its _GSM handsets, becoming the first Kosdaq registered handset manufacturer _to successfully enter the Chinese wireless communications market.
_Sewon announced on the 16th that it has concluded a deal to supply _Ningbo Bird of China with 550 thousand units of its SG-1000 model.
_The deal follows an M.O.U signed by the two companies in August, relating _to shipments of 1.5 million units of Sewon's GSM phones by 2001.
_Ningbo Bird is a leading Chinese wireless handset maker, ranking number _one Chinese manufacturer in unit shipments in Sept., with aggressive plans _to enter the CDMA market in the near future.
_Sewon Telecom's CEO Jeong-Keun Lee said, "We anticipate GSM phone _exports to China to increase to 2 million in 2001. Sewon and Ningbo Bird _have agreed on establishing a joint venture, should Ningbo Bird be granted _a license to provide CDMA handsets in China, which will serve as a platform _for Sewon's Chinese CDMA market entrance.
_■ Contract Details
_Sewon will initially supply 5 thousand units by December of this year, and _the _remaining 500 thousand by the end of 2001. The SG-1000 includes _standard _lithium batteries and a portable battery charger. The handsets will _bear the _Sewon brand name along with the Ningbo Bird brand.
_■ Ningbo Bird
_Established in 1992, Ningbo Bird is a leading manufacturer of GSM
_handsets, _PDAs and pagers, a traditional area of business that led the _rapid growth of _the Company. Ningbo Bird currently has 9 offices and
_250 branches as well _as a separate sales operation in Sanghai.
_Ningbo Bird recorded a sharp hike in sales volume in 1999 due to M&As and _was able to secure capital liquidity through its listing on the Chinese stock _exchange in July this year. It is viewed as a strong candidate for the _licensed provider of CDMA handsets by the Chinese government.
_Ningbo Bird is set to achieve a ten percent market share with production _target of 1.2 million, 3 million, and 6 million units for year 2000, 2001 and 2002 _respectively. |
