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Syntax Groups Outlines Strategy for Olevia LCD TVs in 2005(February 22, 2005)
Syntax Groups Corporation(TM), manufacturer of the high-quality, affordable Olevia(TM) brand of widescreen HDTV-ready LCD TVs, today announced its strategic plans to ship more than 300,000 Olevia high definition LCD TVs and approximately 20,000 LCOS TVs in 2005, more than tripling Syntax's volume in 2004.
Syntax will address industry executives from all segments of the LCD TV and LCOS TV manufacturing supply chain at this week's Taiwan Kolin Company (TSE:1606.TW) Annual Product Preview Summit held at the Ambassador Hotel in Taipei. Leveraging the Olevia brand's current visibility in the 20-inch, 27-inch and 30-inch LCD TV sector, Syntax sees enhanced market growth in 2005 coming from its newest 26-inch, 32-inch, 37-inch Super-IPS-based models, plus upcoming 42-inch, 47-inch and 55-inch models.
"Syntax's mission for strong, steady market growth is predicated on four key fundamentals," states James Li, Chief Executive Officer of Syntax Groups. "Affordable pricing--not the lowest cost--combined with rich specifications, product quality and an excellent warranty program are driving consumers to select our high-value Olevia brand when making buying decisions to enhance their home entertainment environment."
As a result of its rapid growth and retail channel ramp up since commencing Olevia LCD TV sales in Q2 2004, Syntax achieved a "Top 5" North America LCD TV market position in Q4 2004 according DisplaySearch's Global TV Shipment and Forecast Report. "Syntax Groups' Olevia brand continues to be one of the fastest growing LCD TV brands in North America, and we believe its market share reached 7% in Q4'04," said Ross Young, President of DisplaySearch. "The company continues to introduce premium products at attractive prices resulting in increased penetration in each segment it enters. The introduction of its new 32" and 37" S-IPS models establish new price points in these segments and should continue to result in rapid growth."
CompUSA, one of Syntax's national retail partners, has ordered more than 15,000 Olevia LCD TV units, including all models of Syntax's product line, plus more than 1,000 Olevia LCOS TVs since commencing sales in December 2004. CompUSA joins a growing roster of well-known consumer electronics channel stores that are delivering high value affordability to their customers through the Olevia LCD TV brand. Syntax attributes much of its 2004 market share growth to well established relationships with retailers including Staples, HH Gregg, CompuSmart, ABC Warehouse, American TV, BuyRite, Micro Center, RC Willey, Nebraska Furniture Mart, Datavision, Dakota TV, RCS Computer and Fry's Electronics, plus numerous consumer-direct Internet retailers such as Target.com, TigerDirect, PC Connection, PC Mall, eCost and Amazon.com.
Syntax also announces its new final assembly, test and quality control production line in operation at the company's 120,000-square foot facility in the City of Industry, Southern California. With its capacity to efficiently move Olevia LCD TVs ranging from 20-inches to 55-inches through the entire line, Syntax anticipates that it will achieve a 60 to 75 percent productivity enhancement over its previous manual processes.
"Olevia LCD TVs are manufactured with the same high quality panels, video processing chipsets and other key components that are used in Tier One branded products," said Li. "It is extremely inaccurate to assume that Syntax is a low end brand just because of the affordable prices we offer to consumers."
Related Keywords:Syntax Groups, Olevia LCD TV