Chinese distributor stocks up on displays
Categories: Displays, UncategorizedMicroEmissive Displays Group has signed a stocking and distribution agreement with Cytech Technology, one of the leading distributors of electronic components in Hong Kong and China
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Under the terms of the contract, Cytech will use its extensive network and brand to sell MED’s eyescreen technology to Hong Kong and China based manufacturers. The agreement will generate sales, build and extend the order book for the product and commercialise the technology in the region. Cytech will seek to sell eyescreen to manufacturers for application in a variety of products.
In conjunction with the distribution agreement Cytech has placed a significant stocking order for the product.
This order takes the cumulative value of the supply contracts signed to date to in excess of US $10 million.
As announced in December 2006, the manufacturing tool set was delivered on time and characterisation is underway.
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The management expects the manufacturing line to be capable of volume shipment in the second quarter of 2007.
Commenting on the agreement, Bill Miller, Chief Executive of MED said: ‘The need for low power, high quality displays is being driven by the consumer demand for next generation mobile devices and our product is attracting significant interest’.
‘The agreement with Cytech validates our confidence in the potential for our product as an enabling technology and we are working to build an even stronger order book for the coming year’.
He added: ‘Stocking and supply agreements are a cost effective way of developing our sales network’.
‘We intend to sign further distribution agreements covering other territories in order to secure a global sales framework for our business’.