Tiger Telematics Opts to Target Pre-Xmas Trade for USA Launch
LONDON, 5th August 2005 - Gizmondo Europe Ltd subsidiary of Jacksonville, Florida-based Tiger Telematics Inc (other OTC, TGTL), has rescheduled the launch of the Gizmondo multi-entertainment handheld in North America from its original 11th August street date in favour of targeting the more active fourth quarter sales period commencing in October.
Two USA-specific pieces of software in development had originally prompted a summer launch. A much anticipated satellite navigation package utilising the unique GPS functionality, and, an as yet unannounced highly significant game title for the North American market, have been subject to short delays. Consultation with US retailers has influenced the move to a fall release, which will now benefit from a larger launch game portfolio, higher levels of inventory than was originally possible, and will be supported by the new Los Angeles offices due to be opened on 15th August.
Mike Carrender, CEO, Tiger Telematics, said in a recent interview: "We have requested and are looking for 500,000 units from the Gizmondo manufacturer to be available during the USA introduction in the fourth quarter. Gizmondo sales executives have had discussions with numerous USA retailers that have indicated plans to stock the product, and we will be press releasing shortly the specific details of the North American launch along with an expansion of our retailing plans, which includes many more Gizmondo owned retail sites."
Detailed information regarding the North American launch will be announced over the next two weeks.
Carl Freer, Co-founder and Chairman, Tiger Telematics, added: "We're mindful that North America is a hugely influential and strategically important market, and we're determined to package every aspect of the US launch to succeed. Right now this means a short term delay, but the benefits clearly outweigh any criticism we may have to face."
Gizmondo is powered by Microsoft Windows CE advanced real-time operating system, boasting a 2.8-inch TFT colour screen with a Samsung ARM9 400Mhz processor and incorporates the GoForce 3D 4500 NVIDIA graphics accelerator. It provides cutting-edge gaming, multimedia messaging, an MP3 music player, Mpeg4 movie playing capability, a digital camera and a GPRS network link to allow wide-area network gaming. Additionally, it contains a GPS chip for location-based services, is equipped with Bluetooth for use in multi-player gaming and accepts SD and MMC card accessories.
The Company cannot project the number of units that it will sell of the device.
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About Tiger Telematics and Gizmondo
Gizmondo Europe Ltd. is an owned subsidiary of Tiger Telematics Inc (TGTL) and is the maker of Gizmondo, a next-generation mobile entertainment device. Launched in 2004, the gaming device includes built-in music, video, messaging and picture functions and GPS.
Tiger Telematics is a designer, developer and marketer of mobile telematics systems and services that combine global GPS functions and voice recognition technology to locate and track vehicles and people down to street level in countries throughout the world. The systems are designed to operate on GPS and are currently being marketed to GSM current and potential subscribers, primarily by the company's United Kingdom based subsidiaries.
'Gizmondo', 'Smart Adds', 'Tiger Telecom', 'Gizmondo Games' and the 'Gizmondo' logos and devices are trademarks of Gizmondo Europe Limited. All rights reserved. All third party trademarks and/or copyright material are the property of their respective owners.
Except for historical matters contained herein, the matters discussed in this press release are forward-looking and are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these forward-looking statements reflect numerous assumptions and involve risks and uncertainties that may affect Tiger Telematics, Inc. and its subsidiary businesses and prospects and cause actual results to differ materially from these forward-looking statements. Among the factors that could cause actual results to differ are Tiger Telematics Inc.'s operating history; competition; low barriers to entry; reliance on strategic relationships; rapid technological changes; inability to complete transactions on favourable terms; the schedule and sell-through for new software release; consumer demand for video game hardware and software; the timing of the introduction of new generation competitive hardware systems, pricing changes by key vendors for hardware and software and the timing of any such changes, and the adequacy of supplies of new software product and those risks discussed in the Company's filings with the SEC.
In light of the risks and uncertainties inherent in the forward-looking statements, these statements should not be regarded as a representation by Tiger Telematics, Inc. or any other person that the projected results, objectives or plans will be achieved. Tiger Telematics, Inc. undertakes no obligation to revise or update the forward-looking statements to reflect events or circumstances after the date hereof