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MGV International, Inc.
NEWS RELEASE
FOR IMMEDIATE RELEASE
Contact:
Tee Nguyen
MGV Memory
(800) 440-4648
tnguyen@mgvgroup.com
MGV INTERNATIONAL ENTERS EXPANDING
DIGITAL
CAMERA MARKET
Company Establishes MGVision Affiliate
To
Focus
on Photography and Related Digital Technologies
IRVINE, Calif., Sept. 4, 1997 -- As part of its
continued
expansion in the consumer electronics industry, MGV International today announced
that it plans to offer a family of products for the rapidly growing digital camera
and related digital markets. The company’s product offerings are designed to
enhance the increasingly popular digital camera systems, a technology which uses
computer chips rather than plastic to record and store photographic images.
MGV International has established an affiliate,
called MGVision,
to support the company’s product development and marketing efforts. MGVision
will be based in Irvine and joins MGV International’s family of high-technology
business units, which include MGV Memory and MGV Manufacturing.
Industry analysts predict that more than nearly
2 million
entry-level digital cameras will be sold in 1997, with a total market estimated
at $3 billion. Digital cameras are being used for a wide variety of business and
home applications. Instant electronic photos can be inserted into word processing
documents, spreadsheets, presentation slides, newsletters and added to Web sites.
With a greater emphasis on the so-called "paperless
office," insurance claims adjusters are filing electronic documentation with
digital photos and real estate agents snap instant pictures for Web site property
listings and worldwide distribution to prospective homebuyers. Plus the personal
photo album is about to enter the world of desktop and notebook PCs, with new,
low-cost color printers offering photo lab quality output instantly.
"The digital camera market is experiencing
rapid growth
as competition increases affordability for the general consumer," said Marc
Ganouna, president and chief executive officer of MGV International. "With
MGV’s established foundation in the computer memory and portable computing product
markets, the digital camera arena is the next logical evolutionary step for the
company. MGVision will be able to leverage the company’s design and manufacturing
capabilities to enhance and expand the digital camera market."
MGVision plans to introduce its digital camera
storage
and accessories product lines in winter 1997 prior to the holiday buying season.
The affiliate will focus on the consumer market and distribute products through
major reseller and retail outlets.
"The digital camera revolution represents
an important
opportunity for the company to contribute to the growth of this new and exciting
marketplace," Ganouna said. "MGV brings to the market a solid reputation
as a reliable product manufacturer offering leading-edge technologies, quality
products and dependable service."
MGV International is the parent company of MGV
Memory and
MGV Manufacturing. The company is a worldwide supplier of high-quality PC Card
and memory upgrade products. The company’s products are designed and manufactured
at its ISO 9001-certified manufacturing facility in Huntsville, Ala. MGV distributes
through resellers, distributors and to more than 1,500 retail outlets including
office product superstores, consumer electronics chains and mass merchants. The
company also distributes its PC Card and memory products to a variety of computer
companies through OEM agreements.
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