Nam Tai`s TCL Brand Ranks 6th in China
Dec 10, 2002
Nam Tai Electronics, Inc. ("Nam Tai" or the "Company") (Nasdaq: NTAI - News; CBOE Symbol: QNA - News) today announced results of a report released by Beijing Famous-Brand Evaluation Co., Ltd. on Chinese brand name values in 2002. The report ranked the TCL brand name as the 6th most valuable Chinese brand name in The People's Republic of China ("PRC") at $2.3 Billion, an increase of approximately 30% compared to the prior year evaluation. Nam Tai holds a 6% equity interest in TCL Corporation since February 2002."Following our recent realization of 15 times return from part of our investment in TCL Mobile, one of the subsidiaries of TCL Group, Nam Tai is very pleased to see the high ranking and valuation of the TCL brand name, confirming the potential value of our strategic investments in TCL Group", commented Mr. Murakami, Nam Tai's Chairman.The TCL Group is controlled by TCL Corporation, a PRC state-owned enterprise that has extensive sales and distribution channels in China. TCL Corporation's scope of business includes the import and export of raw materials, the design, manufacturing, and sales and marketing of telephones, VCD players, color television sets, mobile phones and other consumer electronic products.