Tiger Telematics secures Scandinavian distribution for Gizmondo
Heads of Agreement made for the multi-entertainer device to hit the Scandinavian market
LONDON, 23 September, 2004 - Gizmondo Europe Ltd, subsidiary of Jacksonville, Florida-based Tiger Telematics Inc (Other OTC: TGTL), announced today that it has secured distribution with a Heads of Agreement in the entire Scandinavian market, thereby enabling a launch during 2005. Gizmondo Nordic AB will launch the new, handheld Gizmondo device, games and accessories throughout Scandinavia.
"We are looking to start the marketing and sales of the Scandinavian market in early 2005 and the Heads of Agreement covers a targeted volume of approximately 90,000 units in the first stage for Scandinavia," says Linus von Schantz, CEO, Gizmondo Nordic.
Gizmondo Nordic AB is to distribute and retail all Gizmondo products in Scandinavia, which includes Sweden, Norway, Finland and Denmark. The company was founded in the summer of 2004 by Linus von Schantz and Björn HTMgglund, entrepreneurs with previous experience in the retail and distribution sector.
Additionally, Linus von Schantz has a background in the IT and telecom industry, as well as experience from running his own business. The new company is to manage sales and distribution in Scandinavia and Gizmondo Nordic has permission from Gizmondo Europe Ltd to use the Gizmondo brand in the company name.
Carl Freer, Managing Director of Gizmondo Europe Ltd. stated: "Scandinavia is an interesting market with one of the world's largest home-electronics sales per capital and the market surveys we've commissioned show that Scandinavians in general are very keen when it comes to new technology!"
Linus von Schants, CEO, Gizmondo Nordic says: "We believe that Gizmondo is totally superior to comparable products currently on the market, while at the same time integrating the GPS system is very interesting as it represents the future within the software/game segment, the possibilities are unlimited. Our research and analysis indicates that the market area we will sell to should accept this product readily at the consumer level."
"Therefore, we are very pleased to be entrusted with selling Gizmondo in Scandinavia, and with Tiger Telematics' product, combined with our industry knowledge and combined expertise, we are convinced that Gizmondo will be a sales success in the Scandinavian market," he said.
The Gizmondo is powered by a Microsoft Windows CE.net platform, boasts a 2.8-inch TFT colour screen with a Samsung ARM9 400Mhz processor and incorporates a 64-bit 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 MMC card accessories.
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. Set to launch 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.
For further information please contact:
Gizmondo Nordic AB
Linus von Schantz CEO
Box 972
SE-751 09 UPPSALA, SWEDEN
Tiger Telematics:
Patrik Wallgren, Head of Global Public Relations
+44 7813 647 752
Michael Carrender, CEO
Tiger Telematics, Inc.
+1 904-279-9240
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; and those risks discussed in the Company's filings with the SEC.