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06-30-2006
VISION TECHNOLOGY ANNOUNCES
COMPLETION OF SPIN-OFF,
Hong Kong, June 30, 2006 - A new Consumer Electronics company today launched in China and Hong Kong. Digital Vision Inc. (DVi) was officially established today following completion of a spin-off from parent company Vision Technology Corporation. A privately held Hong Kong firm, DVi's vision is to be an industry leader in supplying innovative solutions and major components for the burgeoning digital video and audio markets, via the significant base of OEMs, ODMs, system integrators and retailers located in China. The company starts out with more than ten years of experience in Consumer Electronics (CE) via its heritage under Vision Technology, servicing customers such as Shinco, TCL and Perception Digital. DVi also retains longstanding strategic partnerships with the likes of Actions Semiconductor and Hitachi Global Storage Technologies, both leaders in their respective markets: chipsets for CE devices, and mini hard disk drives for digital cameras, digital video recorders, personal media players, MP3 players and more. Steve Wong, President of DVi, said "We pride ourselves on DVi's design capabilities, strategic partnerships, high quality products, technical support and extensive distribution network. With our strong heritage and proven experience in this market, we are confident that DVi will have a significant impact on the long-term success of the growing CE industry in China and Hong Kong." As President, Steve Wong brings 16 years of industry experience to DVi and will be responsible for leading the company and all day-to-day operations. In a separate announcement made today, Pete Andreyev was named Chairman, to be responsible for the strategic direction of the company and major partner and customer relationship management. Additional information on DVi can be found at http://www.dvi.com.hk. About Digital Vision Inc.
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