Copycabana, or does Ipanema = Ipana?
CopyTele, Inc. Announces Two Additional Marketing Agreements
PR Newswire, Wednesday, July 16, 1997 at 10:12
HUNTINGTON STATION, N.Y., July 16 /PRNewswire/ -- CopyTele, Inc.
(Nasdaq-NNM: COPY) announced today that it has entered into two new
distribution agreements for the sale and service of CopyTele's MAGICOM(R) 2000 product. The first agreement is with a Brazilian distributor for distribution of the product in Brazil. This distributor, who is engaged in sales and service in the telecommunications field, supplies dealers, large retail outlets and other key accounts including banks, hotels and government agencies. The second agreement is with a Thailand distributor for distribution of MAGICOM(R) 2000 in Thailand. This distributor is also engaged in the sales and service of telecommunications equipment and has a large
network of dealers throughout Thailand.
The aggregate purchase price for the total quantities contracted for sale under these two distribution agreements is approximately $45 million, bringing the total quantities contracted for sale under all distribution agreements for MAGICOM(R) 2000 to approximately $317 million. These agreements are for terms of three years and provide for the purchase of the distributors' requirements of MAGICOM(R) 2000 units for sale in their respective territories. The agreements provide for periodic purchase orders in increasing quantities to be
accompanied by irrevocable bank letters of credit furnished by the
distributors.
The outcome of CopyTele's distribution agreements will depend upon many factors, including those normally associated with any new product, such as the distributors' ability to market the contracted quantities in their respective territories as well as the capability of CopyTele to produce sufficient quantities of the product.
MAGICOM(R) 2000 is a multifunctional telephone-based product that can send and receive handwritten communications as well as simultaneous voice and electronic handwriting over a single telephone line. This personal communications product offers many features, including digital voice, fax with full page transmission and paperless reception, full duplex speakerphone, e-mail communications, data transmission, storage and computer interface, as well as personal copying capabilities with the use of an optional Company printer, called Magic Printer and the ability to send alphanumeric messages to
pagers using a touch sensitive keyboard screen. MAGICOM(R) 2000 incorporates the Company's patented high resolution flat panel display whose registered trademark is E-PAPER(TM).
SOURCE CopyTele, Inc.
-0- 07/16/97
/CONTACT: Anne Rotondo of CopyTele, 516-549-59 |
