Teleca's Global Mobile Device Business Strengthened With New Subsidiary in Korea


MALMO, Sweden, Jan. 22, 2003 (PRIMEZONE) -- Teleca (Stockholm:TELCb)today announce that the collaboration is backed by new orders in Asia, with an estimated value of more than $8m US during the second half of Q4 2002, Teleca is now opening a new subsidiary in Seoul Korea. The new operation will address the emerging markets in Asia and leverage the potential for increased business within mobile devices and consumer electronics.

Teleca Korea will focus on software development and systems integration services for mobile devices and consumer electronics. It will also serve as a sales hub for the AU Mobile Suite and provide product support. During 2002 revenues from 12 customers in Korea amounted to $4.5m US. The AU Mobile Suite has already been integrated in over 100 handset models in Korea since 1999.

An initial team of around 15 staff will be established during Q1 2003. This will be achieved through the combination of recruitment and the transfer of engineers currently employed by Teleca Mobile Technologies in Korea. Additional engineers will be recruited during 2003 in-line with demand.

"Teleca has a very strong position in the mobile device market today. Several high-level agreements with mobile device manufacturers make our future extremely interesting," said Joakim Nydemark, President of Teleca Mobile Technologies.

The Asian, and especially the Korean and Chinese, mobile communications markets are the fastest growing in the world. The outsourcing trend among handset manufacturers further increases the opportunity in the Asian market.

During the second half of Q4 2002 Teleca signed new orders in Asia for more than 8M USD. This includes R&D, system integration and sales of AU Mobile Suite. The orders are from customers in China, Japan, Korea, Taiwan and Thailand.

"Teleca's global strategy for mobile device software is paying off. New orders during Q4 significantly strengthen Teleca's order book and will generate revenues during 2003 and 2004," said Nick Stammers, CEO of Teleca AB.


For more information, contact:
Teleca AB
Nick Stammers, CEO 
+44-7768 32 35 35

Teleca Mobile Technologies AB
Joakim Nydemark, President 
+46-706 351 609 

Teleca Korea Corp.
David Hwang, President 
+82-1199 582 801

Teleca is a European consulting group focused on new technology and R&D. Our business concept is to strengthen our customer's market position and time-to-market. This is achieved by providing professional teams with specialist technical expertise, working in partnership with development- intensive companies worldwide.

The group has more than 2,300 employees in 15 countries with a strong presence in the Nordic region, U.K. and France. Teleca is quoted on the Attract40 list of Stockholmsborsen. www.teleca.com.

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