NIVS and China Potevio Enter into Strategic Partnership for the Development of a 3G Mobile Phone

HUIZHOU , Guangdong, China , Jan. 4 /PRNewswire-Asia-FirstCall/ -- 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 executed a strategic partnership agreement with China Potevio on December 30, 2009 . NIVS will collaborate with Potevio for the development of a 3G mobile phone, as well as the application of China Potevio's TD-SCDMA wireless products & solutions. NIVS will also work with Potevio's research team to develop and apply the new technologies to the NIVS branded mobile phone, distributed in the mainland Chinese domestic market.

Mr. Tianfu Li , Chairman and CEO of NIVS, commented, "We are excited at the opportunity to work with China Potevio on the development of our own branded 3G mobile phone for introduction to the Chinese consumer. The quality and excellence of the China Potevio product development team is well regarded within the Chinese IT community."

About China Potevio

China Potevio is a domestic leading IT equipment manufacturer and service provider. It was born out of China Posts and Telecommunications Industry Corporation, which has the longest history in China's telecommunication industry. As a key state-owned enterprise under the direct leadership of state-owned Assets Supervision and Administration Commission of the State Council (SASAC), China Potevio's main business includes the manufacture and trade business of telecommunications products and relevant technical research and services. Its industrial scale and strength plays a leading role in many industrial fields, including communications systems, terminal, auxiliary equipment, industrial applications and value-added services.

About NIVS IntelliMedia Technology Group, Inc.

NIVS IntelliMedia Technology Group is an integrated consumer electronics company that designs, manufactures, markets and sells intelligent audio and video products in China , Greater Asia , Europe , and North America . The NIVS brand has received "Most Popular Brand" distinction in China's acoustic industry for three consecutive years, among numerous other awards. Ranked 43rd on Forbes' Top 100 Chinese Research and Development Companies, NIVS has developed leading Chinese speech interactive technology, which forms a foundation for the Company's intelligent audio and visual systems, including digital audio, mobile phone, LCD televisions, digital video broadcasting ("DVB") set-top boxes, peripherals and more.

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward looking statements are often identified by the use of forward looking terminology such as "believes, expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties, including, but not limited to the Company's reliance on its major customers for a large portion of its net sales; the Company's ability to develop and market new products; the Company's ability to continue to borrow and raise additional capital to fund its operations; the Company's ability to collect aging trade receivables and the effect of a growing doubtful account allowance; the Company's ability to accurately forecast amounts of supplies needed to meet customer demand; exposure to market risk through sales in international markets; the market acceptance of the Company's products; exposure to product liability and defect claims; fluctuations in the availability of raw materials and components needed for the Company's products; protection of the Company's intellectual property rights; changes in the laws of the PRC that affect the Company's operations; development of a public trading market for the Company's securities; and the cost of complying with current and future governmental regulations and the impact of any changes in the regulations on the Company's operations. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the discussed above and in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website ( http://www.sec.gov ). All forward-looking statements attributable the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume an obligation to update these forward-looking statements.

    For more information, please contact:

    Company Contact:
     Jason Wong
     Vice President Investor Relations
     Tel:   +86-138-299-16919
     Email: [email protected]

    Investor Contact:
    United States & Canada
     BPC Financial Marketing
     John Baldissera
     Tel:   +1-800-368-1217

SOURCE NIVS IntelliMedia Technology Group, Inc.

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED