SHANXI PROVINCE, China, Jan. 23, 2007 (PRIME NEWSWIRE) -- Shiming Inc., a portfolio company of Argenta Systems, Inc (OTCBB:AGTA), announced Monday the Company's sales forecast for fiscal 2007.
According to iSuppli, a provider of industry market intelligence and advice, the global LCD market in 2007 will increase 57% compared to 2006, reaching approximately 62.5 million units. iSuppli also stated that the global sales of LCDs will reach $53.5 billion while the 2007 LCD crystal retail merchant and manufacturers will be focused on models 40 inches and above.
According to China's Household Appliance Market Joint Investigation Group, in an issue of "2007 Chinese Flat Television Market Forecast Report," and Dr. Lu, the Assistant Director of State Council R&D Center Market Economy Research Institute, China's total flat screen television sales could reach between 7.5 to 7.6 million units.
Based on these forecasts, as well as the total industry increase in production, Shiming LCD indicated that consumer demands will shift in the Company's favor.
Earlier this month, after 5 months of testing and trials since the installation, Shiming announced the successful completion and commencement of its second LCD automatic assembly line. This second LCD assembly line allows the Company to produce larger than 42" LCDs for the first time since its inception, which doubled the Company's production capacity.
Shiming's sales strategy will focus on both the domestic and international markets. Southern China will be the Company's domestic focal point, while the international campaign will be mainly focused on Southeast Asia, benefiting India, Taiwan as well as Europe and North American markets.
According to Shiming's present purchase orders, the Company is very well positioned to reach their goal of LCD sales to exceed 65% in 2007, and overall profits to increase an estimated 35%.
About Shiming Inc.
Shiming Inc. is a consumer electronics company, with a particular focus on the development and manufacture of competitively priced liquid crystal display (LCD) products, including high-definition TVs (HDTV) and computer monitors. Shiming's manufacturing plant is located in the Changxin High and New Technology Industrial Garden in Shenzhen, China. For several years Shiming has been involved in the research and development of consumer electronics products and technologies such as LCD, plasma displays, and household electronics.
Shiming was originally formed in 1999 as Shaanxi Shiming Science & Technology Joint Stock Company Ltd., under the laws of the PRC. In 2004, we formed the Operating Company as a parent holding corporation by the name of Shiming (Cayman) Ltd., a limited liability company incorporated under the laws of the Cayman Islands, which currently owns 100% of the outstanding capital stock of Shiming Management, which operates controls and beneficially owns Shiming Technology. In November 2006, pursuant to the Exchange Agreement, the Operating Company became the wholly owned subsidiary of Argenta Systems, Inc. (OTCBB:AGTA).
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