ONTARIO, Calif., April 23, 2007 (PRIME NEWSWIRE) -- SOYO Group Inc. (OTCBB:SOYO) today announced its new Prive brand of LCD TVs, which will be targeted at value minded consumers, will be made available in all of Wal-Mart's 278 retail stores in Canada. The new Prive brand will include a 26" and 32" LCD flat panel display and retail prices begin at CDN469 for the 26".
Ming Chok, CEO of SOYO, said, "Wal-Mart has an aggressive plan to build its Consumer Electronics division and we are very happy to be a part of that. Initially we had products on Walmart.com and Sam's Club Canada. Prive will mark our first time actually being a part of Wal-Mart's in store Modulars."
Wal-Mart has committed to the line with a 12-month forecast. SOYO is now officially a direct vendor to Wal-Mart Canada which will allow SOYO to present its other products to Wal-Mart buyers more directly. Initially, Wal-Mart Canada will be the only location carrying Prive LCD TVs.
Nancy Chu, SOYO's CFO, said, "We are excited about this new product line and committed customer. We are able to take the Prive transaction on and not impact our newly issued credit line. This should not only drive down our current logistic cost previously only servicing Office Depot Canada and the 6 Club Stores for Sam's Canada. Being in 278 stores will improve our exposure and help contain cost."
Prive Display LCDs are built on the philosophy that LCD TVs can alter your way of living and not your budget. Initially, Wal-Mart Canada will be the only retailer carrying Prive Display LCD TVs, and SOYO has not indicated it is seeking any other customers for this line of LCD TVs.
About Wal-Mart Canada
Wal-Mart Canada's Home Office is located in Mississauga, Ontario, with over 278 locations employing more than 70,000 Canadians. Petitions continue to come in from across Canada asking that Wal-Mart stores be built in their towns. Wal-Mart Canada will continue to open new stores and make changes to better serve its customers.
About SOYO Group Inc.
SOYO Group Inc. is a provider of computer, consumer electronics, and broadband telecommunications products and services. Headquartered in Ontario, California, with additional sales offices in South America, SOYO Group sells its products through an extensive network of authorized distributors, resellers, system integrators, VARs, retailers, mail-order catalogs and e-tailers, including Best Buy, Circuit City, Staples, Micro Center, Target.com, Walmart.com, eCost.com, Fry's Electronics, PC Mall, and Office Depot, among others. Products are sold under the Go Video, Dragon, Onyx, Dymond, Honeywell and SOYO brand names. For more information, please visit http://www.soyogroup.com.
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