VTech Announces Settlement with the US Federal Trade Commission on Cyber Attack Incident
Hong Kong – VTech Holdings Limited (VTech, HKSE: 303) announced that its wholly owned subsidiaries, VTech Electronics Limited and VTech Electronics North America, L.L.C., have reached a settlement with the US Federal Trade Commission (FTC) to resolve an investigation of a cyber attack in 2015 and certain technical issues involving notice and consent under the Children's Online Privacy Protection Act (COPPA). Although VTech has agreed to this settlement to address these long-resolved issues, VTech does not admit any violations of law or liability.
"We are pleased to settle this two-year-old investigation by the FTC," said Allan Wong, Chairman and Group CEO of VTech Holdings Limited. "Following the cyber attack incident, we updated our data security policy and adopted rigorous measures to strengthen the protection of our customers' data. We also took steps to address the technical notice and consent issues under COPPA."
VTech is committed to and will progressively execute data security improvements so that customers of VTech products and services can rest assured the data they entrust with VTech is well protected. VTech will also continue to be a market leader in providing innovative products that parents can trust.
VTech is the global leader in electronic learning products from infancy through toddler and preschool and the world's largest manufacturer of cordless phones. It also provides highly sought-after contract manufacturing services. Since its establishment in 1976, VTech has been a pioneer in the electronic learning toy category. With advanced educational expertise and cutting-edge innovation, VTech products provide fun and learning to children around the world. Leveraging decades of success in cordless telephony, VTech's diverse collection of telecommunication products elevates both home and business users' experience through the latest in technology and design. As one of the world's leading electronic manufacturing service providers, VTech offers world-class, full turnkey services to customers in a number of product categories. The Group's mission is to design, manufacture and supply innovative and high quality products in a manner that minimises any impact on the environment, while creating sustainable value for its stakeholders and the community.
For further information, please contact:
VTech Representative – Kaleigh Steinorth
+1 (212) 886-9308
VTech Holdings Limited