NIVS IntelliMedia Signs OEM and ODM Contract with Acoustic Research
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 they have signed an OEM and ODM service contract with Acoustic Research (”AR”), a professional speaker manufacturer and developer in the U.S.
Acoustic Research, a subsidiary of Audiovox Corporation (NasdaqGM: VOXX), has been a widely recognized brand name in the home audio industry since it pioneered the first acoustic suspension loudspeaker over fifty years ago. NIVS will be responsible for providing their sales channel for AR’s product distribution, as well as OEM and ODM services for AR in China and Hong Kong, with the possibility of adding other international markets should AR request it. Starting in September, NIVS will be using the Company’s current high- quality manufacturing technology to produce and distribute AR speakers in China and Hong Kong. NIVS is currently the only agent AR is using for its products in China.
“We’re very excited to be working with Acoustic Research,” said Mr. Tianfu Li, Chairman and CEO of NIVS. “AR has a rich and successful history of producing top quality audio products in the U.S., and this contract demonstrates their confidence in our business, distribution network and capabilities as well as our shared vision of being leaders in the audio products industry. AR’s dedication to quality will help improve our overall capabilities and this cooperation will help our Company to leverage our current manufacturing and distribution resources to greater success in becoming China’s preeminent integrated consumer electronics company, and will ultimately create more value for our shareholders.”
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