Nam Tai signs major contract

The company previously reported the deal as under negotiation in a press release of financial results for the third quarter of 2011. Nam Tai management said that the deal has the potential to more than double the company's annual sales revenue in 2012, however customer order volumes are not guaranteed and will vary depending on end-equipment sales and other factors. High-volume production is expected to start at the end of December with shipments beginning from the company's factory in Wuxi in early January. In a press release the company said that discussions with a second major customer to produce LCD module subassemblies for smart phone applications at the company's Shenzhen are still ongoing, with plans for high-volume production of the modules to begin about June of next year. Nam Tai said it has not yet received firm orders for this deal.