Cogo Group (COGO) Sets Sights on China’s Evolving HDTV Market

QualityStocks would like to highlight Cogo Group, Inc. (NASDAQ: COGO), a leading embedded solutions and software provider for the technology and industrial sectors in China. The company believes it acts as a proxy to China's technology industry as it works with virtually all the major ODMs and OEMs in China

In the company’s news yesterday,

Cogo Group Inc. declared solid demand for HDTV in China, with subscribers in the area passing the 2 million mark in the fourth quarter of 2010, up from 2 million in July 2010. The company is set to benefit from the positive figures as it, in conjunction with its semiconductor partner, provides customized solutions for HDTV set-top boxes (STB) in China and abroad.

Working with this same partner, Cogo recently launched an upgraded STB solution, equipped with additional functionality that result in a higher average selling price than the company’s current offerings.

Cogo already started shipping this new solution to its HDTV customers, and said it expects shipments to ramp significantly in 2011 as China’s HDTV ecosystem meets expectations that the market will increase and evolve over the next five years.

“I am very pleased that Cogo continues to participate in the rapidly growing HDTV roll-out in China,” Jeffrey Kang, CEO of Cogo stated in the press release. “We prove time and again and that we can quickly position ourselves to take advantage of the ‘sweet spot’ of rapidly growing new end markets, like 3G Smartphones, tablets, smart meters, autos and HDTV. Our order patterns in these end markets continue to drive upside to our revenue targets and provide strong visibility to maintaining high-growth in 2011.”

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