NIVS Wins China Telecom 3G Deal

NIVS IntelliMedia announced it has, with Kuanda, entered into a purchase agreement with China PTAC Communications Services

January 14, 2010

1 Min Read

HUIZHOU, China -- NIVS IntelliMedia Technology Group, Inc., ("NIVS" or the "Company") ( NYSE Amex: NIV), a consumer electronics company that designs, manufactures and sells intelligent audio and visual products, today announced that the Company, jointly with Kuanda (Xiamen) Communications Co., Ltd, has entered into a purchase agreement with China PTAC Communications Services on behalf of China Telecom for the purchase by China Telecom of the Company's two 3G mobile phone products.

The 3G mobile phone products will be available in red, black and silver and will be engraved with the China Telecom logo and operate over a network specifically engineered for the Company's product. The purchase agreement is contingent on delivery of the 3G mobile phones representing the aggregate order by March 31, 2010. The value of the order is $28.8 million; the dollar value of any additional orders further to this relationship depends on the final number of delivered products. It is expected that the 3G mobile phones will be available for purchase at China Telecom Services Centers throughout China.

Mr. Tianfu Li, Chairman and CEO of NIVS, commented, "We are excited to receive an order of this magnitude and from such an outstanding company as China Telecom. The order represents the largest in the history of NIVS and our personnel are working diligently to fulfill the order in a timely manner."

China Telecom Corp. Ltd. (NYSE: CHA)

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