Nam Tai Electronics, Inc. ("Nam Tai" or the "Company") (NYSE: NTE) today announced that it has received another additional new purchase order from an existing customer to extend the production at the Company's Shenzhen facility of high-resolution liquid crystal display modules ("LCMs") for a smartphone.
Under this new purchase order, the Company expects to extend its production of LCMs for smartphones for this customer to the period ending December 2013 to manufacture approximately 12 million additional units. This new purchase order does not alter the customer's decision to eventually transfer its future orders to other suppliers. This order still only offers temporary relief for the Company and does not guarantee that any new future order will be awarded. In addition, the customer may cancel any or all of this purchase order with payment of a cancellation fee to the Company.
FORWARD-LOOKING STATEMENTS AND FACTORS THAT COULD CAUSE OUR SHARE PRICE TO DECLINE
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