City Network Inc. Expands Its Marketing in Japan & Korea
Company Receives Purchase Order for up to 10 Million GPS Modules
TAIPEI, Taiwan, May 18 /PRNewswire-FirstCall/ -- City Network, Inc. a company
that designs, manufactures and markets a comprehensive line of broadband and
wireless Internet access solutions and consumer electronic products today
announced the expansion of the company's marketing initiative in the Japan and
Korea markets.
To accompany the growth in perceived GPS demand, City Network is aggressively
concentrating on the marketing and distribution of electronic appliances
related to this trend. Recently, the company received an official purchase
order of GPS modules, amounting to around 10 million modules, from Juyoung
Electronics Co. in Korea.
City Network has also gained recognition as a leader in Home PNA and wireless
systems and is focused on occupying a prominent position in the GPS worldwide
market. The company signed a contract to provide wireless LAN service for more
than 1,600 sites with Korea Life Insurance, and is the product provider for
McDonald's wireless LAN setup in over 300 restaurants in Taiwan. The company
believes that its current accomplishments are transporting the company into
international markets with a unique commercial image and a bundle of high
demand creative products.
"We are paying close attention to the worldwide GPS developing trend," said
David Wang, President of City Network Inc., "the report from ABI institute
estimates that this years global output value of GPS can reach at least $340
million US dollars. Currently, GPS infrastructure is the basic requirement in
many countries. Under the government's request in Korea, all taxies are
required to install GPS. Japan has a more aggressive method to promote the GPS
system. The government of Japan provides a nationwide local map to GPS
suppliers. With this advantage, these suppliers offer more complete road
information as a value added service." Mr. Wang continued, "City Network Inc. has been working together with Juyoung
Electronics Co. for the past two years. The main mission for the first year was
to test valued-added application products. This brought $5 million US of
revenue to City Network in fiscal year 2003. So far, in 2004, Juyoung has
placed an order of 50,000 units, amounting to $1.5 million US. The company
anticipates that shipping volume will increase for the current year." City Network will also focus on future product trends, including the
application of GPS on car navigation, telecommunication, and tracking
management. For the developing markets, City Network intends to cultivate Japan
and Korea with GPS appliance modules for Logistics industries, car navigation,
vehicle management systems and for the monitoring of leisure usage and
communication products.
About City Network Inc.
City Network Inc. designs, manufactures and markets a comprehensive line of
broadband and wireless Internet access solutions and consumer electronic
products. The Company's product line ranges from the City Network HPNA device
for the flourishing worldwide residential building and hospitality market to
the simple DSL bridge/modem for the home and small business user. Currently,
City Network Home PNA and xDSL broadband access equipment is widely deployed by
major telecommunication carriers, ISPs, and System Integrators worldwide.
Safe Harbor under the Private Securities Litigation Reform Act of 1995: The
statements which are not historical facts contained in this press release are
forward-looking statements that involve certain risks and uncertainties
including but not limited to risks associated with the uncertainty of future
financial results, regulatory approval processes, the impact of competitive
products or pricing, technological changes, the effect of economic conditions
and other uncertainties as may be detailed in the Company's filings with the
Securities and Exchange Commission. Nothing in this press release shall be
construed as an offer to buy or sell any securities herein. DATASOURCE: City Network, Inc.
CONTACT: Tim Clemensen of Rubenstein Investor Relations, +1-212-843-9337, , for City Network, Inc.
Web site: http://www.citynetwork.com.tw/
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