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First Quarter Shipments of Mio Technology's Handheld Devices Grow More than 80 Percent Compared to Previous Year11/23/2006
Fremont, California - May 18, 2006 - Worldwide shipments of Mio Technology Ltd. handheld devices skyrocketed more than 80 percent in the first quarter of this year compared to first quarter 2005, making the company the only handheld vendor in the top five of total shipments to record a year-over-year increase, according to a recent reports from IDC1 and Gartner2.
While competitive shipments declined, Mio reversed the trend, expanding its product line and targeting a range of users, sparking growth of 84.4 percent in Q1 compared with the first quarter of last year. The success stems largely from increased volumes in Europe and Asia, and Mio expects that success to extend into North America as well.
"We've had great success in both North America and worldwide this year and we expect to build on that momentum throughout 2006 with a number of new product offerings," said Kiyoshi Hamai, North American sales director, Mio Technology Ltd. "Whether the user is a jet-setting executive, busy parent or tech-savvy 20-something, Mio offers more than just a navigation tool - we offer lifestyle enhancing devices."
"We're positive that the key factor to success in the handheld industry can be attributed to our added GPS features on PDA devices," said Hamai. "Mio is continuing to address the needs of the mobile consumer with advanced GPS software and additional features built into our latest product line-up."
Despite numbers showing the handheld market shrinking this past year, Mio's shipment volume increased on the strength of its broad suite of handheld devices featuring pre-loaded maps, Bluetooth, Wi-Fi and MP3 and video players. According to Gartner's May 8th report, Mio Technology is on pace to sell more than 1 million such PDAs in 2006. Recently, the company introduced two new stylish and portable GPS devices in the U.S.-the Mio DigiWalker C310 and Mio DigiWalker C710. The new devices are straightforward, easy-to-use GPS navigation units that feature detailed maps, updated in 2005, of the Continental US, Alaska, Hawaii and Canada in a sleek, palm-sized chassis. Designed for ease of use, the Mio C710 and C310 come preloaded with the necessary software and maps. The C310 is available now at select retail stores and online at Buy.com, Newegg.com, and TigerDirect.com, while the C710 will be available this summer.
While competitive shipments declined, Mio reversed the trend, expanding its product line and targeting a range of users, sparking growth of 84.4 percent in Q1 compared with the first quarter of last year. The success stems largely from increased volumes in Europe and Asia, and Mio expects that success to extend into North America as well.
"We've had great success in both North America and worldwide this year and we expect to build on that momentum throughout 2006 with a number of new product offerings," said Kiyoshi Hamai, North American sales director, Mio Technology Ltd. "Whether the user is a jet-setting executive, busy parent or tech-savvy 20-something, Mio offers more than just a navigation tool - we offer lifestyle enhancing devices."
"We're positive that the key factor to success in the handheld industry can be attributed to our added GPS features on PDA devices," said Hamai. "Mio is continuing to address the needs of the mobile consumer with advanced GPS software and additional features built into our latest product line-up."
Despite numbers showing the handheld market shrinking this past year, Mio's shipment volume increased on the strength of its broad suite of handheld devices featuring pre-loaded maps, Bluetooth, Wi-Fi and MP3 and video players. According to Gartner's May 8th report, Mio Technology is on pace to sell more than 1 million such PDAs in 2006. Recently, the company introduced two new stylish and portable GPS devices in the U.S.-the Mio DigiWalker C310 and Mio DigiWalker C710. The new devices are straightforward, easy-to-use GPS navigation units that feature detailed maps, updated in 2005, of the Continental US, Alaska, Hawaii and Canada in a sleek, palm-sized chassis. Designed for ease of use, the Mio C710 and C310 come preloaded with the necessary software and maps. The C310 is available now at select retail stores and online at Buy.com, Newegg.com, and TigerDirect.com, while the C710 will be available this summer.
About Mio Technology Ltd. (MTL)
Mio Technology Ltd. (MTL) operations are worldwide. Foreseeing that the mobile lifestyle and mobile commerce will be mainstays of life in the near future, the company is dedicated to the development of enabling devices. Its main business is the sale of Mio DigiWalker-branded mobile communication products, such as smartphones, Pocket PCs and handheld GPS systems. For additional information on MTL and its products, the North American headquarters are located at 47988 Fremont Blvd., Fremont, CA 94538. Phone (510) 252-6950 . fax (510) 252-6930 . e-mail at sales@miogps.com. The company is online at www.miogps.com/index.htm.
