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SIM Technology Group Ltd. Comments On H1 2012 Earnings Guidance


Tuesday, 31 Jul 2012 07:34am EDT 

SIM Technology Group Ltd. announced that it is the current estimate of the Company's management that the Company is likely to incur further loss for the first half of 2012 as compared to the first half of 2011. Such loss is primarily attributable to the reasons as follows: (i) the global handsets market condition is extremely severe, the Company was facing fierce price competition in smart phones sales and the gross profit margin of the centralized purchase of smart phones by Mainland operators are too low; (ii) the sales volume of smart phones in open market were lower than expected; (iii) high-end ODM sales were also lower than expected due to the difficulties in operations experienced by the Company's customers; and (iv) the loss has widened as a result of the drop in gross profit margin of handsets and that the research and development expenses and other expenses have remained high. The management of the Company has also estimated a probable recognition of impairment on the goodwill arising from the acquisition of Smartwireless Technology Limited in year 2009. 

Company Quote

0.41
0.045 +12.33%
11 Jul 2014