New Name Heralds Evolution of Tiger Telematics' Multi-Entertainment Device
April 16 2004 - 10:29AM
PR Newswire (US)
New Name Heralds Evolution of Tiger Telematics' Multi-Entertainment
Device LONDON, April 16 /PRNewswire/ -- Gizmondo Europe Ltd.,
formerly known as Gametrac Europe Ltd, subsidiary of Jacksonville,
FL based Tiger Telematics Inc. (TIGR) announced today that its
much-anticipated handheld mobile entertainment device will be
marketed under the brand name of ** Gizmondo Facilitating the name
change is the planned rapid evolution of the device itself, from a
one-dimensional mobile gaming console to a device best described as
a futuristic multi-entertainer. The product is a wireless, handheld
device featuring cutting-edge gaming, an MP3 music player, movie
player, multimedia messaging, in-built camera and GPS function.
"Gametrac was a project name for our strategic partners," says Mike
Carrender, CEO for Tiger Telematics. "The new name, Gizmondo,
exemplifies the unique versatility of the device to provide many
types of entertainment as chosen by the user. Gizmondo reflects
that the device changes to fit the entertainment choices of the
user." The new name allows for more precise market segmentation,
with Gizmondo targeting. The name change also marks the next
planned phase of implementation, one step closer to market. In
addition, Gizmondo by Tiger Telematics provides a more discernable,
tangible link to Tiger Telematics, the listed parent company. The
Gizmondo name was due for launch at the E3 Electronic Entertainment
Expo in Los Angeles on May 11-15, but pending legal issues
concerning the use of the Gametrac name has led to the early
announcement of the Gizmondo brand name. "We are really excited
about E3, where we'll be showcasing our latest model and games. We
can't wait to see the public's reaction. Gizmondo gives us great
leverage in winning the hearts and minds of our target audience. It
provides the opportunity to create a series of future sub-brands
under the Tiger Telematics' umbrella in order to create a
homogenous whole and strengthen the connection to the listed parent
company," says Patrik Wallgren, Head of Global Public Relations.
The Gizmondo is due to be launched later this year. Notes: About
Tiger: Gizmondo Europe Ltd., formerly known as Gametrac Europe Ltd,
is a series of owned subsidiaries of Tiger Telematics Inc.
(OTC:TIGR.PK) and is the maker of the Gizmondo, the next-generation
mobile entertainment device. Set to launch in the UK in 2004, the
gaming device includes in-built music, video, messaging and picture
functions. http://www.gizmondo.com/ http://www.tigertelematics.com/
Tiger is a designer, developer and marketer of mobile telematics
systems and services that combine global GPS functions and voice
recognition technology to locate and track vehicles and people down
to street level in countries throughout the world. The systems are
designed to operate on GPS and are currently being marketed to GSM
current and potential subscribers, primarily by the company's
United Kingdom based subsidiaries. Except for historical matters
contained herein, the matters discussed in this press release are
forward-looking and are made pursuant to the safe harbour
provisions of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that these forward-looking statements
reflect numerous assumptions and involve risks and uncertainties
that may affect Tiger Telematics, Inc. and its subsidiary
businesses and prospects and cause actual results to differ
materially from these forward-looking statements. Among the factors
that could cause actual results to differ are Tiger Telematics
Inc.'s operating history; competition; low barriers to entry;
reliance on strategic relationships; rapid technological changes;
inability to complete transactions on favourable terms; and those
risks discussed in the Company's filings with the SEC. DATASOURCE:
Gizmondo Europe Ltd.; Tiger Telematics Inc. CONTACT: Mike
Carrender, CEO, Tiger Telematics, Inc., +1-904-279-9240; Global
Media - Patrik Wallgren, Head of Global Public Relations,
+44-7813-647-752 Web Site: http://www.gizmondo.com/
http://www.tigertelematics.com/
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