TAIPEI, Taiwan and ZHUHAI, China, Dec. 4 /PRNewswire-Asia/ -- G.M.I. Technology Inc. (Public, TPE: 3312) ("G.M.I.") and Actions Semiconductor Co., Ltd. (NASDAQ:ACTS) ("Actions") announced today that G.M.I. has commenced initial shipments of products with GPS functions that feature Actions Semiconductor Series 13 integrated circuits (ICs). Actions' ICs utilize best-in-class Linux-based software and navigation system provided by China's leading GPS map provider, Ritu Information Systems, Inc. (Ritu). Last month Actions and Ritu announced that they had entered a strategic software agreement. Actions' ICs support GPS applications for a variety of end market products.
Commenting on the announcement, Dickson Chan, Vice President of G.M.I., said, "We are excited to diversify the breadth of applications supported by the Actions' SoC product family. Our customers have been very receptive to integrating this new functionality and we are optimistic of the growth in this business in 2009 and beyond." "We are very pleased to expand our partnership with leading distributor, G.M.I.," stated Vincent Lin, Vice President of Marketing at Actions Semiconductor. "As G.M.I. commences shipments of our Series 13 chipsets supporting GPS applications, we are excited to see our strong distributor relationships leverage our end-market diversification strategy, which is an important component for our long-term growth." About G.M.I. Technology Inc.
G.M.I. Technology Inc. (Public, TPE: 3312) is committed to being a Total Solution Provider for both the Consumer Electronics and IT markets. Following the firm's establishment in 1995, G.M.I. merged with China's Vector Electronic Co. (est. 1987) to create a firm with two decades of industry expertise in the Greater China region. By starting with market-side research, G.M.I. leverages its well-established customer base and internal experts to identify market trends and opportunities in high-growth markets. G.M.I.'s in-house engineering team is dedicated to working with partners to develop projects from definition to mass production. Additional information can be found at http://www.gmitec.com/ .
About Actions Semiconductor Co., Ltd.
Actions Semiconductor is one of China's leading fabless semiconductor companies that provides mixed-signal and multimedia SoC solutions for portable consumer electronics. Actions Semiconductor products include SoCs, firmware, software, solution development kits, as well as detailed specifications of other required components and the providers of those components. Actions Semiconductor also provides total product and technology solutions that allow customers to quickly introduce new portable consumer electronics to the mass market in a cost effective way. The company is headquartered in Zhuhai, China, with offices in Beijing and Shenzhen. For more information, please visit the Actions Semiconductor website at http://www.actions-semi.com/ .
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995 Statements contained in this release that are not historical facts are forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including financial projections and forecasts, involve risks and uncertainties that could cause Actions Semiconductor's actual results to differ materially from our current expectations. Factors that could cause Actions Semiconductor's results to differ materially from those set forth in these forward-looking statements include customers' cancellation or modification of their orders; our failure to accurately forecast demand for our products; the loss of, or a significant reduction in orders from, any of our significant customers; fluctuations in our operating results; our inability to develop and sell new products; defects in or failures of our products; the expense and uncertainty involved in our customer design-win efforts; the financial viability of the distributors of our products; consumer demand; worldwide economic and political conditions; fluctuations in our costs to manufacture our products; our reliance on third parties to manufacture, test, assemble and ship our products; our ability to retain and attract key personnel; our ability to compete with our competitors; and our ability to protect our intellectual property rights and not infringe the intellectual property rights of others. Other factors that may cause our actual results to differ from those set forth in the forward-looking statements contained in this press release and that may affect our prospects in general are described in our filings with the Securities and Exchange Commission, including our most recently filed Forms F-1, 20-F and 6-Ks. Actions Semiconductor undertakes no obligation to update or revise forward-looking statements to reflect subsequent events or changed assumptions or circumstances.
For Actions Semiconductor Investor Contacts: Lisa Laukkanen
The Blueshirt Group
Tel: +1-415-217-4967 Jimmy Liu
Investor Relations at Actions Semiconductor
Tel: +86-21-5080-3900 x1211
DATASOURCE: Actions Semiconductor Co., Ltd.
CONTACT: Jimmy Liu, Investor Relations at Actions Semiconductor, +86-21-5080-3900 x1211, ; Or Lisa Laukkanen, The Blueshirt Group, +1-415-217-4967, for Actions Semiconductor Web site: http://www.gmitec.com/ http://www.actions-semi.com/
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