Vtech 2008 Annual Report Download - page 2

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VTech is one of the world’s largest suppliers of corded
and cordless telephones and electronic learning
products. It also provides highly sought-after contract
manufacturing services. Founded in 1976, the Group’s
mission is to be the most cost e ective designer and
manufacturer of innovative, high quality consumer
electronics products and to distribute them to markets
worldwide in the most e cient manner.
With headquarters in the Hong Kong Special
Administrative Region and state-of-the-art
manufacturing facilities in mainland China, VTech
currently has a presence in 10 countries and
approximately 30,000 employees, including around
1,600 R&D professionals in R&D centres in Canada,
Hong Kong and mainland China. This network allows
VTech to stay abreast of the latest technology and
market trends throughout the world, while maintaining
a highly competitive cost structure.
The Group invests signi cantly in R&D and launches
numerous new products each year. VTech sells its
products via a strong brand platform supported by
an extensive distribution network of leading retailers
in North America, Europe and Asia Paci c. Apart from
the well-known VTech brand, the Group has the
rights to use the AT&T brand in connection with the
manufacture and sale of its wireline telephones
and accessories.
Shares of VTech Holdings Limited are listed on both the
Hong Kong and London stock exchanges (HKSE: 303;
LSE: VTH). Ordinary shares are also available in the form
of American Depository Receipts (ADRs) through the
Bank of New York Mellon (ADR: VTKHY).
CORPORATE PROFILE
CONTENTS
1 Financial Highlights
2 Letter to Shareholders
5 Management Discussion and Analysis
8 Review of Operations – Telecommunication Products
10 Review of Operations – Electronic Learning Products
12 Review of Operations – Contract Manufacturing Services
14 Corporate A airs
16 Year in Review
18 Corporate Governance Report
20 Directors and Senior Management
23 Report of the Directors
28 Independent Auditor’s Report
29 Consolidated Financial Statements
30 Notes to the Financial Statements
53 VTech in the Last Five Years
54 Corporate Information
55 Information for Shareholders
56 VTech Group of Companies