The Company has also said that it has signed a new contract with Gigaset Communications to supply rechargeable batteries for cordless phones sold in Europe under the Gigaset brand (Siemens Home and Office Communication Devices. KG operated under the name "Gigaset Communications" since Oct 1st, 2008). The contract runs through June 30, 2010.
George Pan, chairman and chief executive officer of Hong Kong Highpower Technology, said: "We are very pleased to begin working with Gigaset Communications, which represents a significant new ODM relationship for the Company, Gigaset is committed to producing phones with the most stringent quality and environmental standards, and we are excited to help them continue building their reputation for excellence.
“With this contract, we will become one of the largest battery suppliers to Gigaset Communications. Gigaset is the clear European market leader in cordless telephones and we hope to grow our relationship over time. We have continued to experience positive sales trends through the first two months of the third quarter, the healthy increase in unit shipments is helping to drive an increase in sales. Our sales growth and continuing efforts to reduce our production costs are having a positive impact on our financial results."
Can the company expect increase in its sales for the next year too?
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