We derive substantial revenues from sales to OEMs, or Original Equipment Manufacturers. OEMs contract with us to build their products or to obtain services related to product development and prototyping, volume manufacturing or aftermarket support. Our services include engineering, design, materials, management, assembly, testing, distribution, and after-market services. We believe that we are able to provide quality OEM services that meet unique requirements within customer timeframes, unique styling, product simplicity, price targets, and consistent quality with low defect rates. As a result of efficiently managing costs and assets, we believe we are able to offer our customers an outsourcing solution that represents a lower total cost of acquisition than that typically provided by the OEM's own manufacturing operation.
We have OEM cooperation arrangements with well-known manufacturers, including:
◇ Hyundai;
◇ Haier;
◇ TCL;
◇ Wal-Mart;
◇ Carrefour Group; and
◇ METRO
Korea HYUNDAI named NIVS PRC as its sole brand promoter for its digital MP3/MP4 players and television products in China.
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