VTech and Deutsche Telekom Signed Licensing Agreement
Hong Kong – VTech Holdings Ltd (HKSE: 303; LSE: VTH; ADR: VTKHY) today announced that its wholly owned subsidiary VTech Telecommunications Ltd (VTech) has signed a licensing agreement with Deutsche Telekom AG (Deutsche Telekom), giving it an exclusive right to supply corded and cordless telephones for the Deutsche Telekom's well-known T-Home brand, Sinus and Concept product names. As part of the agreement, "produced by VTech" will feature on both the products and packaging.
"We are very pleased that Deutsche Telekom has chosen VTech as its sole supplier of corded and cordless telephones. The agreement will boost our sales to this important customer and the co-branding will raise awareness of the VTech brand in Germany significantly," said Mr. Allan Wong, Chairman and Group Chief Executive Officer of VTech Holdings Ltd.
"VTech is a high-performing partner and has a long history of reliable cooperation with Deutsche Telekom. Our new partner programme ensures that we can continue to offer our customers high-value devices at attractive prices, and first-class services based on agreed service levels," said Thomas Dannenfeldt, Member of the T-Home Board of Management responsible for Market and Quality Management at Deutsche Telekom AG.
The agreement is for three years, with an option to renew for one year. VTech will take over the logistics and after-sales service for the products. The first shipment of the co-branded VTech and Deutsche Telekom products is expected in early 2009.
Co-branded VTech and Deutsche Telekom products
Co-branded VTech and Deutsche Telekom packaging
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VTech is one of the world's largest suppliers of corded and cordless telephones and electronic learning products. It also provides highly sought-after contract manufacturing services. Founded in 1976, the Group's mission is to be the most cost effective designer and manufacturer of innovative, high quality consumer electronics products and to distribute them to markets worldwide in the most efficient manner.
For further information, please contact:
VTech Holdings Ltd
(852) 2680-1000 (office)
(852) 2680-1788 (fax)
VTech representative in Hong Kong
Gloria Chiu, GolinHarris
(852) 2501-7970 (office)
(852) 2810-4780 (fax)