Vtech 2011 Annual Report Download - page 2

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Contents
1 Financial Highlights
2 Letter to Shareholders
6 Fast Facts
7 Management Discussion and Analysis
10 Products and Services Overview
12 Review of Operations – North America
14 Review of Operations – Europe
16 Review of Operations – Asia Pacific &
Other Regions
18 Corporate Social Responsibility
22 Highlights of the Year
24 Corporate Governance Report
27 Directors and Senior Management
29 Report of the Directors
32 Independent Auditor’s Report
33 Consolidated Financial Statements
36 Notes to the Financial Statements
62 VTech in the Last Five Years
63 Corporate Information
64 Information for Shareholders
VTech is the world’s largest manufacturer of cordless
telephones and a leading supplier of electronic learning
products. It also provides highly sought-after contract
manufacturing services. Founded in 1976, VTech’s mission
is to be the most cost effective designer and manufacturer
of innovative, high quality consumer electronics products
and to distribute them to markets worldwide in the most
efficient manner.
With headquarters in the Hong Kong Special Administrative
Region and state-of-the-art manufacturing facilities
in mainland China, VTech currently has operations in
11 countries and regions and approximately 34,000
employees, including around 1,500 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 significantly 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 Pacific. Apart from the well-known VTech
brand, the Group is licensed to design, manufacture and
distribute AT&T branded wireline telephones and accessories,
as well as Telstra branded fixed line telephones in Australia.
Shares of VTech Holdings Limited are listed on The Stock
Exchange of Hong Kong Limited (HKSE: 303).
Corporate Profile