TORONTO, Oct. 2, 2007 (PRIME NEWSWIRE) -- Perfisans Holdings, Inc. (OTCBB:PFNH), a next-generation semiconductor design house focused on the high-speed wireless communication and consumer semiconductor markets, today announced, with Tiffany Technology Limited (Tiffany), that it has secured a $4 million cellular phone contract.
Perfisans has won a $4 million contract for its recently released cellular phone solution. This is a major milestone achieved through Tiffany's channel distribution and will commit the Company to supply the customer a total of 200,000 cellular phone handset-finished printed circuit board (PCB) units. This contract validates and reinforces the acceptance of Perfisans' solution.
After its recent merger LOI announcement with Tiffany Technology Limited (Tiffany), a major channel distributor focused on consumer semiconductor components and supplies for the ever-increasing demand in the global and China markets, Perfisans immediately began extensive market research. The results demonstrated strong market demand for a cost-effective cellular product solution in China. Perfisans has formed an implementation team in China to develop such a solution based on the Company's engineering knowledge and expertise.
The rapid growth of the worldwide cellular phone market is evident, but in China, especially, where new cellular subscriptions have surpassed fixed telephone lines, the market opportunity is far greater than any other global region. The ability to adapt to the rapidly changing market, and to roll out new products quickly, will be a high priority for Perfisans. Market research shows that China Mobile added a record 14 million users in the fourth quarter, 2006 (Bloomberg and China Digital Times.net, 2007-03-21). The latest statistics from China's Ministry of Information Industry (MII) illustrate that by the end of July 2007, there had been more than 880 million telephone users in China, including 372 million fixed-line phone users and 508 million mobile phone users (CNET: 2007-08-23).
ABOUT PERFISANS HOLDINGS INC.
Founded in 2001, Perfisans Holdings, Inc. (www.perfisans.com) is headquartered in the high-tech zone of Markham, Ontario, Canada, where companies such as AMD (www.amd.com), IBM (www.ibm.com), and Motorola (www.motorola.com) are located.
Perfisans is a fabless semiconductor company focused on developing leading edge, cost-effective, system-on-chip (SOC) integrated circuits (IC) and delivering innovative solutions that address the performance needs of next generation network interface systems. Rapidly being recognized and endorsed by industry leaders for its innovative ASIC architectures, the Company's technologies have applications in data-telecommunication, storage networks, content delivery networks, broadband networks, rich streaming media, broadband wireless and wireless surveillance applications.
Commercial and private network systems that utilize Perfisans' products reward their operators with significantly faster network data throughput speeds, increased day-to-day operating efficiencies and enhanced bottom line performance. Enterprise operators welcome Perfisans' full standards compliance and backward compatibility, which makes significant systems performance upgrades to existing network systems possible, and at very low cost. By avoiding the necessity for operators to buy expensive additional equipment, Perfisans' technology allows its' users to streamline cost, ultimately affecting their bottom line. More information can be obtained from the Company's web site at www.perfisans.com.
ABOUT TIFFANY TECHNOLOGY LIMITED
Tiffany Technology Limited (TTL), a Hong Kong corporation founded in August 2005, is an electronics product channel distribution company focused on sales and marketing of the fashionable consumer electronics products, and delivers high quality services to customers in mainland China and the Asia Pacific region.
The Company's mission is to become the leading semiconductor components distribution channel to China and provide superior services, fast turn around time, fast shipment, and a rich portfolio of products to major manufacturers (OEMs).
Tiffany currently carries many products: semiconductor chips for mobile phone, digital camera and etc. As the One-stop channel distributor of consumer electronics component suppliers, the Company provides excellent sales services and strong technical support to the customers. The products distributed by the Company have applications in consumer electronics, data communications, computer and industrial control. The Company provides customer support, front end technical support and logistics to the customers.
More information can be obtained from the Company's web site at www.tiffanytech.com
Cautionary Statement
This press release contains statements relating to future results of Perfisans (including certain projections and business trends) that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: the cyclical nature of the semiconductor industry and the markets addressed by the company's and its customers' products; demand for and market acceptance of new and existing products; successful development of new products; the timing of new product introductions; changes in product mix; product obsolescence; the availability of manufacturing capacity; fluctuations in manufacturing yields; pricing pressures and other competitive factors; the ability to develop and implement new technologies and to obtain protection for the related intellectual property; the uncertainties of litigation; our ability to attract and retain qualified personnel; as well as other risks and uncertainties, including those detailed from time to time in Perfisans' Securities and Exchange Commission filings. These forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.