EB (ELEKTROBIT) DELIVERS TERRESTAR SATELLITE-TERRESTRIAL SMARTPHONES
(Thomson Reuters ONE) - STOCK EXCHANGE RELEASEFree for publication, December 2, 2009, at 08.00 am (CET +1)EB (ELEKTROBIT) DELIVERS TERRESTAR SATELLITE-TERRESTRIAL SMARTPHONESElektrobit Inc., a subsidiary of Elektrobit Corporation (EB), andTerreStar Corporation (TerreStar) have signed a frame supplyagreement regarding the delivery of satellite-terrestrial smartphonesfor TerreStar. According to the agreement EB will be responsible fordelivering complete products to TerreStar based on the EB-designedsatellite-terrestrial reference device, which includes manufacturing,forward and reverse logistics, and after market services support.Through this agreement, EB Wireless Solutions introduces, in additionto its current R&D services and customized solutions offering, aproduct delivery business model, where it provides complete productsto its customers by subcontracting the production of EB-designeddevices from selected Electronic Manufacturing Services (EMS)companies. This business model both strengthens EB's strategicposition as turnkey solution provider for its customers and enablesEB's Wireless Solutions business to address new businessopportunities.TerreStar has announced that it plans to launch its commercialservice with its satellite-terrestrial smartphones next year, and EBhas the readiness to start the product delivery accordingly. Actualdelivery volumes for the satellite-terrestrial smartphones willdepend upon market demand, and thus reliable delivery forecasts cannot be provided at this stage.Product delivery business model and the execution of the frame supplyagreement between EB and TerreStar, include typical risks related toany product delivery business model, such as high dependency onactual product volumes, development of the cost of materials andproduction yields, warranties, product and contractual liabilities,which may manifest themselves as higher cost of product delivery, andultimately, as lower profit.The product delivery business model and the execution of the framesupply agreement do not have a material impact on EB's balance sheet,net sales and result for the second half of 2009, and therebyguidance given for the said period remains unchanged.EB and TerreStar began their cooperation in September 2007 when EBstarted to develop advanced handset technologies and referencedevices for TerreStar's upcoming satellite-terrestrial all-IP mobilenetwork.Oulu, December 2, 2009Elektrobit CorporationJukka HarjuCEOFurther information:Ari VirtanenExecutive Vice President, Wireless SolutionsTel. +358 400 435 878Panu MiettinenCFOTel. +358 40 344 5338Distribution:NASDAQ OMX Helsinki LtdPrincipal mediaEB, Elektrobit CorporationEB develops advanced technology and transforms it into enriching enduser experiences. EB specializes in demanding embedded software andhardware solutions for the automotive industry and wirelesstechnologies. The company's net sales for the year 2008 totaled EUR172.3 million. Elektrobit Corporation is listed on the NASDAQ OMXHelsinki. www.elektrobit.comTerreStar CorporationTerreStar Corporation is the controlling shareholder of TerreStarNetworks Inc. and TerreStar Global Ltd. For additional information onTerreStar Corporation, please visit the company's website atwww.terrestarcorp.com.TerreStar Networks Inc.TerreStar Networks (www.terrestar.com), a majority owned subsidiaryof TerreStar Corporation (NASDAQ: TSTR), plans to offer a reliable,secure and resilient satellite terrestrial mobile broadband networkthat will provide voice, data and video services dedicated to helpingsolve the critical communication and business continuity challengesfaced by government, emergency responders, enterprise businesses andrural communities. TerreStar expects to offer next generation mobilecommunications through a network of partners and service providers tousers who need "anywhere" coverage throughout the United States.This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 02.12.2009 - 07:00 Uhr
Sprache: Deutsch
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