ORLANDO, Fla., May 28, 2009 (GLOBE NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies, Inc., has initiated coverage on NIVS IntelliMedia Technology Group, Inc. (NYSE Amex:NIV), an integrated consumer electronics company that designs, manufactures, markets and sells intelligent audio and video products.
Abhinav Bhatnagar, MBA, RedChip Research Analyst, reported:
"Global CE markets are continuously developing, with an increasing number of products reaching obsolescence due to technological advancements. NIVS' unique intelligent products help differentiate the Company from competitors by adding speech-controlled interface technology and extensive applications to the Company's standard audio and video equipment."
"NIVS' efforts to expand its offerings by adding technologically advanced products have also enabled the Company to attract a large pool of OEM clients across the globe with diverse manufacturing requirements. The Company has an eminent list of OEM clients, including major brands such as Samsung, Hyundai, Haier, and TCL. Furthermore, NIVS is the exclusive authorized OEM manufacturer of Samsung's multi-media speakers in China," Bhatnagar continued.
"In a rapidly changing market scenario, where customers are demanding more advanced products, NIVS' unique speech-based, interface-controlled equipment represents a significant opportunity for the Company to drive future growth. The intelligent speech-based line of products carry higher margins than the Company's traditional audio and video products, and NIVS faces practically no competition in the space as the market for Chinese language intelligent products is less developed than Western language products. We are initiating coverage of NIVS with a 'Buy' recommendation and a 12-month target price of $7.65," Bhatnagar concluded.
To receive a complimentary copy of the RedChip Visibility Initial Research Report for NIVS IntelliMedia Technology Group, please visit: http://www.redchip.com/about/aboutmain.asp?page=vreport&reportid=176&from=pr5282009
About NIVS IntelliMedia Technology Group, Inc.
NIVS IntelliMedia Technology Group is an integrated consumer electronics company that designs, manufactures, markets and sells intelligent audio and video products in China, Greater Asia, Europe, and North America. The NIVS brand has received "Most Popular Brand" distinction in China's acoustic industry for three consecutive years, among numerous other awards. NIVS has developed leading Chinese speech interactive technology, which forms a foundation for the Company's intelligent audio and visual systems, including digital audio, LCD televisions, digital video broadcasting ("DVB") set-top boxes, peripherals and more.
About RedChip Companies, Inc.
RedChip Companies is an international, small-cap research and financial public relations firm headquartered in Orlando, Florida; with affiliate offices in Qingdao, China; Paris, London, Atlanta, Los Angeles and San Diego. RedChip delivers concrete, measurable results for its clients through its extensive national and international network of small-cap institutional and retail investors. RedChip has developed the most comprehensive platform of products and services for small-cap companies, including: RedChip Research(tm), Traditional Investor Relations, Digital Investor Relations, Institutional and Retail Conferences, RedChip Small-Cap TV(tm), and RedChip Radio(tm). To learn more about RedChip's products and services please visit: http://www.redchip.com/visibility/productsandservices.asp.
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Disclosure
The analysts contributing to this report do not hold any shares of NIVS IntelliMedia Technology Group, Inc. Additionally, the analysts contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. RedChip certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analyst in the report. This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. As such, the report should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed herein are subject to change. NIVS IntelliMedia Technology Group ("NIV") paid RedChip Visibility, a division of RedChip Companies, Inc., twenty-five thousand dollars for RedChip Visibility Program services, which included the preparation of this equity research report. RedChip Companies, Inc., employees and affiliates may have positions and affect transactions in the securities or options of the issuers mentioned herein.