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(Full text of statement. Contact details below.)
LONDON, July 30, PR Newswire --
Gizmondo Europe Ltd, subsidiary of Jacksonville, Florida-based, Tiger Telematics Inc (TGTL: former symbol TIGR), announced today the signing of two Letters of Intent covering sales, account management and distribution of the Gizmondo device in USA, Canada and Mexico. The two sales agencies are Redline Marketing, based in Minnesota, and Tartan Sales in Texas. The two groups will co-ordinate and apportion the agreements on a geographic and account basis.
"Our intention is to launch Gizmondo in the US in early 2005 and the timing of these agreements provides us with a valuable, six-month window of opportunity for pre-sale activities," says Carl Freer, Managing Director, Gizmondo Europe Ltd.. "It also enables us to be the first RISC device to display true 3D gaming and media, ultimately providing Gizmondo users with that 5-star gaming experience. The US introduction of the device will follow soon after the launch in the UK and Europe"
"Both Redline Marketing and Tartan Sales have vast experience in sales and account management of leading-edge consumer electronic products in the USA retail market. Jointly they have represented many large consumer electronics manufacturers," says Carl Freer. "An announcement about American distribution was expected, of course. That said, it is very exciting that we're teaming up with the sales groups that have helped major players in the games industry reach millions of people through their network of retail partners."
Todd Harris, President of Tartan Sales, said: "We believe the fantastic quality of the Gizmondo will complement our existing product lines. We believe that the versatility of the device and the depth of our sales relationships, will help us to achieve our first year sales target goal, as stated in the agreement, of 400,000 plus units across the U.S."
Dave Arundel, President of Redline Marketing, stated: "We are ecstatic about the opportunity to market and distribute this multi-entertainer product in our focused area of northern USA and Canada. We believe that the unit sales targeted in our agreement of 400,000 units in North America is achievable in the first year of marketing the new product. We can't wait."
Source: HighBeam Research, TIGER TELEMATICS SECURES N AMERICAN DISTRIBUTION CHANNELS FOR...