Syntax Groups Celebrates Milestone First Anniversary of Olevia LCD TV Shipments; Announces Market Position, Global Expansion and New Retail Partners
City of Industry, CA - -April 19, 2005 - - Since commencing shipments a year ago of its high value Olevia(tm) LCD TVs, Syntax Groups Corporation(tm), one of the fastest -growing manufacturers of LCD TVs, rose to the number three market position in North America during Q4 2004, continues its global expansion into Asia, and adds to its portfolio of leading consumer electronics retailers by offering richly featured Olevia LCD TVs at affordable prices.
As noted in a new iSuppli Corporation TV market report published by DigiTimes*, Syntax gained a 7.15% market share in Q4 2004 LCD TV shipments in North America to attain the third rank position, up from its previous position as number four in Q3 2004. Similarly, in a recent report by IDC**, Syntax achieved the number three USA market position for LCD TV shipments in Q4 2004, plus Syntax scored a 'top 10' worldwide LCD TV position in Q4 2004 according to both IDC and DisplaySearch***. As a result of the company's first three quarters of sales in 2004, Syntax has achieved increasing market share gains for shipments of its flagship 20", 27" and 30" Olevia LCD TVs.
"We view these industry accolades as defining moments in Syntax's history and a testament to our goal to make LCD TVs affordable and attainable for all American families," said James Li, Chief Executive Officer of Syntax Groups. "We are also deeply gratified for the support from our manufacturing partner, Taiwan Kolin, our suppliers, and our retail channel alliances."
Success Accelerated by Strong CE Retail Channel
A key factor in Syntax's early market success in North America has been the strength of its partnerships with leading consumer electronics retailers. Instead of taking years to build, Syntax has firmly established a robust channel sales program that today includes Internet retailers, regional and national retail chain stores, and notable distributors and resellers. Last year, Syntax commenced Olevia shipments with Internet retailers including TigerDirect, PC Connection and PC Mall, and has since added programs with Amazon.com, Buy.com, BuyRite, eCost, Computers4Sure, Staples.com, Target.com, RadioShack.com plus numerous authorized resellers through Syntax's distributors BDI Laguna, D&H, Petra, SED International and Sistemas2000 (Mexico). Throughout 2004 and into 2005, Syntax rapidly added popular national and regional retail stores including Staples, CompUSA, hhgregg, Micro Center, Fry's Electronics, American TV, Dakota TV, DataVision, RCS Experience, CompuSmart (Hartco Canada), CyberDiscount Warehouse, Beach Camera, AVS Buying Group, and NATM Group members ABC Warehouse, Nebraska FurnitureMart and RC Willey.
Boscov's & Meijer Added to Syntax Partners
To further extend the visibility of the Syntax's Olevia brand throughout the Midwest and the Mid Atlantic United States, Syntax most recently has added regional retail partners Boscov's and Meijer. The fourth member of the NATM Buying Corporation to offer Syntax's Olevia LCD TVs, Boscov's will carry Syntax's LCD TVs in its 41 stores across Pennsylvania, New Jersey, Delaware and Maryland. Last year Meijer, a family owned and operated grocery and general merchandise supercenter operating 165 stores throughout Illinois, Indiana, Kentucky, Michigan and Ohio, celebrated 70 years of service in their communities. Meijer is continuing that service by enhancing the quality and selection in their stores with products like Olevia.
Syntax Continues Global Expansion in Asia
Rapidly expanding its global presence, Syntax Groups has firmly established the Syntax Hong Kong/China office. Since its launch late in 2004, Syntax Hong Kong/China has secured customers including Broadway Photo Supply Ltd., Chung Yuen Electrical Co. Ltd., CMK Electrical Store, Wing Sing Photo Supplies Co. Ltd., ESDLife, Tai Lin Radio Service Ltd., and 3C Digital. In Q1 2005, Syntax shipped over 5,500 Olevia LCD TVs within the greater China regions.
To further expand its operations in Southeast Asia, Syntax and partner Taiwan Kolin have formed the joint venture Syntax Philippines office to service markets including the Philippines, Singapore, Malaysia and Indonesia.
Olevia LCD TV Product Roadmap Continues to Expand
When Syntax broke into the LCD TV market a year ago with its Olevia brand, it raised the industry's competitive bar by not only offering some of the most affordably priced products, but also by including leading specifications that other vendors either charged premium prices for or didn't offer. One year later, Syntax has broadened its LCD TV product line to include 20", 26", 27", 30", 32" and 37" models.
Scheduled for availability this summer are new 37" and 42" ATSC/QAM models with HD tuners built -in. Additionally, Syntax will continue to incorporate its proprietary new iDEA technology into future Olevia models to deliver superior image enhancements.
About Syntax Groups
Headquartered in Southern California, Syntax Groups Corporation (www.syntaxgroups.com) is a complete vertically integrated R&D, manufacturing and channel sales -driven multinational company of high value consumer electronics and computer technology convergence products for the post -PC era. Through its joint venture company, DigiMedia (www.digimedia.com.tw), formed in Taiwan with Taiwan Kolin Company (TSE:1606.TW, www.kolin.com.tw), Syntax Groups controls a powerful end -to -end supply chain including R&D and manufacturing of backlights for its LCD TVs, optical engines for LCoS TVs, strategic relationships with leading TFT LCD suppliers, mass production manufacturing of LCD TVs and LCoS TVs, quality control, channel sales, marketing and distribution with a solid back -end customer support program. Syntax sells its fully -featured Olevia LCD TVs through a rapidly growing channel network of national and regional retail stores in North America plus distributors and consumer -direct online partners, and internationally in Southeast Asia. To support the dramatic growth of its operations and expanding employee base of 100 people, Syntax relocated its corporate headquarters into larger premises located at 20480 E. Business Parkway, City of Industry, CA 91789.
* Source: DigiTimes, 4/15/05. "iSuppli Ranks Top TV Sellers in North America and Japan" http://www.digitimes.com/news/a20050415PR203.html
** Source: IDC, 2005. Worldwide and United States LCD TV Unit Shipments by Vendor, Q4 2003 -Q4 2004.
*** Source: DisplaySearch, 2005. Quarterly Global TV Shipment and Forecast Report.
Syntax Groups Corporation and Olevia are trademarks of Syntax Groups Corporation.
Syntax Groups Corporation