Fort Lauderdale, FL, March 11, 2019 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine” or the “Company”) (OTCQX: SMDM) - the worldwide leader in home karaoke consumer products - today announced it has signed a new distribution deal with Proxy A/S to exclusively distribute Singing Machine products to Finland, Sweden, Norway, Iceland and Denmark.
Proxy is one of the largest wholesale distributors of toy and youth electronics products in the Nordic territories and is majority owned by The Character Group PLC, the UK’s largest independent toy group. Proxy distributes major toy lines such as Funko™, Fortnite™, and Pokemon™.
Bernardo Melo, VP of Sales & Marketing, commented, “We are thrilled to be partnering with Proxy to help us expand our reach into the toy and youth electronics markets in the Nordic territories. Their sales network and marketing power open up a lot of new doors that we don’t currently reach.”
Morten Geschwendtner, CEO of Proxy, commented, “We are extremely excited to be the partner of Singing Machine – the world leader in karaoke entertainment – and we expect great sales in the Nordic region.”
About The Singing Machine
Based in the U.S., Singing Machine® is the North American leader in consumer karaoke products. The first to provide karaoke systems for home entertainment in the United States, the Company sells its products worldwide through major mass merchandisers and on-line retailers. We offer the industry's widest line of at-home karaoke entertainment products, which allow consumers to find a machine that suits their needs and skill level. As the most recognized brand in karaoke, Singing Machine products incorporate the latest technology for singing practice, music listening, entertainment and social sharing. The Singing Machine provides consumers the best warranties in the industry and access to over 13,000 songs for streaming and download. Singing Machine products are sold through most major retailers in North America and internationally. See www.singingmachine.com for more details.
Forward-Looking Statements
This press release contains forward‑looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward‑looking statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by management and include, but are not limited to statements about our financial statements for the fiscal year ended March 31, 2018. You should review our risk factors in our SEC filings which are incorporated herein by reference. Such forward‑looking statements speak only as of the date on which they are made and the company does not undertake any obligation to update any forward‑looking statement to reflect events or circumstances after the date of this release.
Investor Relations Contact:
Brendan Hopkins
(407) 645-5295
investors@singingmachine.com
www.singingmachine.com
www.singingmachine.com/investors