TAIPEI, Taiwan – May 4 (SEND2PRESS NEWSWIRE) — City Network, Inc. (Amex: CSN), a company that designs, manufactures and markets a comprehensive line of broadband and wireless Internet access solutions and consumer electronic products, today announced the expansion of the company’s marketing initiative in Europe. To accompany the growth in consumers 3C products demand, City Network is aggressively concentrating on the marketing and distribution of products in this trend. Recently, City Network received an official purchase order from MCA Technology Inc. for a version of its MP3 product line.
The new supply contract is for 150,000 units which amounts to approximately USD$2.34M. These MP3 products will be distributed by MCA Technology Inc. to its customers throughout the company’s channels in various European countries.
“We are excited about this new business in Europe with MCA Technology, because it means the quality and design of our products meet the needs of the European market,” remarked City Network Chairman Andy Lai, “We are currently planning a very aggressive marketing strategy to enter this market with full force.”
For the past three years, City Network has developed high quality 3C consumer products including the “pen driver,” VoIP equipment and other items such as mobile handsets for mostly Asia, China and African markets. However, this new order from MCA Technology Inc. represents City Network’s first opportunity to compete and expand business in the European market. “We believe that this new order is a terrific opportunity to introduce our 3C consumer products business to European end users,” stated Andy Lai.
In addition, City Network (www.citynetwork.com.tw) has plans to focus efforts on the development of product distribution in North America as well.
Safe Harbor under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, regulatory approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties as may be detailed in City Network’s filings with the Securities and Exchange Commission. Nothing in this press release shall be construed as an offer to buy or sell any securities herein.
News issued by: City Network, Inc.
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Original Story ID: (341) :: 2005-05-0504-004
Original Keywords: City Network, Inc., AMEX CSN, ticker CSN, urope’s MCA Technology Inc., MP3 Product Line, TAIPEI, Taiwan, broadband and wireless Internet access solutions, consumer electronic products, pen driver, VoIP equipment, Andy Lai City Network, Inc.