Hypercom Corp. has received multiple orders from distributors in China for point-of-sale (POS) terminals and additional networking equipment as part of a previous agreement, Hypercom Wednesday announced.
The combined orders are for approximately $14.3 million (U.S.). The company is scheduled to begin shipments in early 1998.
“These orders demonstrate not only the competitiveness of the Hypercom product, but also the effectiveness of our distribution channels in China,” said Clive Cooper-Smith, managing director, Hypercom’s Asia-Pacific Rim Region. “Hypercom’s strength in the China market is a result of our pioneering work and the substantial investment we are making in establishing a local presence. We opened an office in Beijing in August and plan to open two more offices in China in coming months.”
Hypercom Selected as Preferred Provider by China Construction Bank
In other news, Hypercom was selected as a preferred provider of POS solutions for national China Construction Bank. Hypercom is the only foreign provider of POS solutions for national China Construction Bank for a selective program.
“We chose Hypercom Corp. as one of our `Three Excellence’ partners because the company offers excellent products, excellent service and excellent value,” said Li Derang, vice president of technology, China Construction Bank. “Hypercom helps us provide to our clients the benefits of leading-edge technology, high security for transactions and high performance. We are confident that this business relationship is an excellent start on our long-term business relationship with Hypercom.”
Founded in 1954 with headquarters in Beijing, China Construction Bank is one of five specialized banks in China. The bank has assets of approximately RMB 2,125.3 million.
Hypercom is a leading supplier of point-of-sale (POS) payment systems and enterprise networking solutions. The company also produces Pinnacle client/server transaction processing software. With headquarters in Phoenix, Hypercom’s products are sold in more than 50 countries worldwide.
The company has corporate offices in the Asia-Pacific Rim region in Beijing, Hong Kong, Singapore, Tokyo and Sydney, Australia. Hypercom consists of four divisions: Hypercom International, Hypercom POS US/Canada, Hypercom Network Systems and Hypercom Manufacturing Resources.
For further information on Hypercom, via fax free of charge, dial 800/PRO-INFO and enter company code “HYC.”
Certain matters discussed within this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although management of Hypercom believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include industry, competitive and technological changes; risks associated with international operations and foreign currency fluctuations; the composition, timing and size of orders from and shipments to major customers; inventory obsolescence; market acceptance of new products and other risks detailed from time to time in Hypercom’s Securities and Exchange Commission reports including the company’s prospectus dated Nov. 13, 1997.Details