LOS ANGELES, Nov. 17, 2003 (PRIMEZONE) -- MB Tech, Inc. (OTCBB:MBTT) announced today that it has instituted a paradigm shift in its core business from a supplier of electronic components for DBS satellites, to an end-user consumer-driven Company delivering specialized entertainment solutions for the mass market.
Previously, MB Tech announced that it had entered into an agreement with Willsearch to market MB Tech's recently developed DBS Flat Antenna system in conjunction with Willsearch's new high-end XVISION 5000 multi-media set-top box. This represents one of several elements of the shift, which will position MB Tech solidly in the consumer electronics space, which is estimated in the billions of dollars annually.
According to industry reports, at the end of 2002 the two primary U.S. DBS providers reached a combined 19.36 million subscribers, up 16 percent from 2001, which represents 20 percent of U.S. households.
Hanwook Bae, CEO of MB Tech stated, "The new MB Tech family of products introduced with the Company's development of the portable auto-positioning flat antenna, future enhanced derivatives of this product and associated product bundles, are designed to complement and augment the success and growth of the direct broadcast satellite market globally."
Bae further commented, "Our shift into the consumer markets is part of an overall strategy developed to position the Company in higher margin businesses. By extending into new consumer categories, it gives the Company an opportunity to offer revolutionary products on behalf of the consumer and industry as a whole."
The Company plans to offer high-performance consumer electronics products that directly integrate with proprietary DBS Antenna solutions through various marketing channels including service providers, re-sellers, and directly to the end-user consumer, depending on the product offering, at a price point that is acceptable to consumers."
MB Tech is known as a price-point and quality leader in DBS satellite LNB's for receiver dishes. Korean manufacturing standards are high while manufacturing costs are low. These factors combined make the Company a strong competitor in the global marketplace.
It is envisioned by management that these same factors will allow MB Tech to develop and market consumer solutions that share the same price-point and quality characteristics, in accordance with the Company's progressive paradigm shift, through innovation and marketing.
About MB Tech, Inc.
MB Tech is a global manufacturer and distributor of electronic components for the DBS satellite industry.
The primary product MB Tech produces is "LNB" Low-Noise Blockdown converters, which are the essential element enabling DBS satellites to receive and convert satellite transmission signals. MB Tech currently serves the satellite television market, and is expanding to serve the satellite radio and military hardware sectors. MB Tech manufactures several proprietary LNB solutions that differentiate it from competitors. MB Tech's product line includes a dual-horn LNB which allows multiple set-top boxes to be connected to a single satellite dish, enabling viewing of multiple channels simultaneously on different television monitors, and a tri-horn LNB, which provides the ability to download signals from multiple satellites over a single dish.
For more information refer to the company's website at: http://www.mbtech.us
Safe Harbor Act Disclaimer
The statements contained in this release and statements that the Company(s) may make orally in connection with this release are not historical fact and are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. Actual results may differ materially from those forward-looking statements, as such statements involve risks and uncertainties that could significantly impact the company's business and the actual outcome and results may differ materially.