TORONTO, April 1, 2008 (PRIME NEWSWIRE) -- Aspire International, Inc. ("Aspire" or the "Company") (OTCBB:APIT), a next-generation, semiconductor company focused on high-speed wireless communication and consumer semiconductor markets, announced today it has sold its cellular solutions in China.
Aspire formed an implementation team in China to develop cellular phone solutions based on the Company's in-depth engineering knowledge and expertise. The Company also hired technical sales professionals in China to support its sales and marketing and its engineering activities. Aspire has sold more than US $300,000 of cellular solutions to its China customer in Shenzhen through Aspire's sales force in Shenzhen.
Aspire signed a Letter of Intent to acquire all the outstanding shares of Tiffany Technology Limited. Tiffany, which is in the process of doing its U.S. GAAP audit, is a major channel distributor focused on consumer semiconductor components and supply to the growing electronics markets in China and the world. On December 18, 2007, the Company changed its name to Aspire International Inc. to coincide with the merger and reflect the new global business plans of the company.
The cellular phone solutions released recently to the market also enabled Tiffany Technology Ltd. to secure a US $4 Million contract. Assembly line production for the new cell phone designs will start once customer-focused quality assurance testing for software and hardware engineering is complete.
The rapid growth of the cell phone market is highly evident in China where new cellular subscriptions have surpassed fixed telephone lines. Adapting to the rapidly changing market and rolling out new products quickly are top priorities for Aspire in this endeavor.
About Aspire International Inc.
Aspire International Inc. was registered on December 18, 2007 in the state of Maryland. Perfisans Networks Corporation, (www.perfisans.com) founded in 2001, is a wholly owned subsidiary of Aspire International Inc. and is headquartered in the high-tech zone of Markham, Ontario, Canada.
Aspire International Inc. 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 semiconductor market demand. The Company's technologies have applications in data-telecommunication, storage networks, content delivery networks, broadband networks, rich streaming media, High Definition TV broadcast, Internet Protocol TV, broadband wireless, wireless surveillance and cellular phone applications.
More information can be obtained from the Company's web site at www.perfisans.com.
About Tiffany Technology Ltd.
Tiffany Technology Ltd., a Hong Kong corporation founded in August 2005, is an electronics product channel distribution company that focuses on sales and marketing of fashionable consumer electronics products. It delivers high quality services to customers in mainland China and the Asia Pacific region.
The Company's mission is to provide superior services, quick turnaround time, fast shipment, and a rich portfolio of products for manufacturers.
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 Aspire (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 Aspire's 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.