Tiger Telematics Selects Flextronics to Volume Manufacture Gizmondo
LONDON, 31 August, 2004 - Gizmondo Europe Ltd, subsidiary of Jacksonville, Florida-based, Tiger Telematics Inc (OTC: TGTL), announced today that it has selected Flextronics, the world's leading Electronics Manufacturing Services (EMS) provider, as a new volume manufacturer for the company's cutting-edge multi-entertainment device, Gizmondo. The eagerly-anticipated handheld gaming console is expected to launch in the United Kingdom later this year and in the United States in early 2005. By utilizing Flextronics' high-volume manufacturing capabilities and global reach, Tiger Telematics expects to bring more units-to-market by Q1 2005 then originally planned.
Flextronics, an established leader in design engineering, as well as manufacturing, will be responsible for volume manufacturing the device and providing strategic operational services to help Gizmondo achieve time-to-market objectives while minimizing overall procurement, materials and manufacturing costs.
"We selected Flextronics as a partner for its experience, efficiency, consumer quality and global manufacturing capacity. Flextronics' strong history and reputation made this partnership a logical choice. By working with them, we will increase our capacity to meet the immediate anticipated demand for Gizmondo, while securing and maintaining our leadership role within the category," said Steve Carroll, CTO of Tiger Telematics. "We see this far-reaching agreement as the first in a long line of many and look forward to working with Flextronics on this and future products."
The Gizmondo, powered by Microsoft Windows CE.net platform, boasts a 2.8-inch TFT colour screen with a Samsung ARM900 400MHz processor and incorporates 64-bit graphics accelerator. It provides cutting-edge gaming, multimedia messaging, a MP3 music player, Mpeg4 movie playing capability, a digital camera and a GRPS network link to allow wide-area network gaming. It also contains a GPS chip for location based services and it is equipped with Bluetooth for use in multi-player gaming.
"We look forward to working with Tiger Telematics to help the company bring Gizmondo to market more efficiently, expediently, and in mass quantity," said Amanda Fage, Director of Business Development at Flextronics. "We're pleased to help Tiger Telematics maintain a competitive advantage and respond to the growing consumer demand for a multi-entertainment device such as Gizmondo," she added.
About Tiger Telematics and Gizmondo
Gizmondo Europe Ltd. is an owned subsidiary of Tiger Telematics Inc. (OTC: TGTL) and is the maker of Gizmondo, a next-generation mobile entertainment device. Set to launch in late 2004, the gaming device, includes music, video, messaging and picture functions.
Tiger 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.
Contacts:
Tiger Telematics Inc.
Patrik Wallgren, Head of Global Public Relations
(+44)7813-647-752
Ogilvy Public Relations
Serena Tesler
+1-212-880-5279
Mike Carrender, CEO
+1-904-279-9240
Tiger Telematics, Inc.
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 favorable terms; and those risks discussed in the Company's filings with the SEC.