Audiovox 1999 Annual Report Download - page 6

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LETTER TO SHAREHOLDERS
Audiovox Communications Corp. has entered the 21st century on the
heels of the best year in our history. A sales increase of 110% has
propelled our Company to the forefront of an increasingly competitive
group of handset suppliers.
Unit sales reached a record
6.1 million handsets; nearly doubling the volume sold in 1998. In October,
we recorded our first $100+ million month and hit an all time high of
$120 million for the month of December.
During 1999, ACC moved from the number five to the number three
position among handset suppliers in North America according to
Dataquest. In addition, Dataquest ranked us number two in CDMA
handset supply. CDMA is the fastest growing segment in the industry.
I firmly believe that the successes of the past year have given us
the momentum needed to prosper in this constantly evolving telecommu-
nications industry. With the support of our manufacturing partners, well
known companies such as Toshiba and Hyundai, we are confident that
our product lineup will continue to evolve at the cutting-edge pace of
technology. Early this year, we introduced our first web-browsing phone,
the CDM-4500, the first of several new phones planned for introduction
during 2000.
Our commitment to the needs of our customer base is well docu-
mented and we remain on track to those stated goals. In a few weeks
we will be introducing the CDM-9000, our first tri-mode, web-browsing
handset. The CDM-9000 supports the nationwide marketing efforts of
the carriers and we believe that it will become the cornerstone of our
product lineup. Recently, Dataquest made the following comment,
“…Audiovox is well positioned to expand its relationships with carriers
and continue to grow its market share during 2000.”
As president and CEO of Audiovox Communications Corp.
I would like to thank you for your continued support. We are all commit-
ted to bringing continued suc-
cess into the 21st century.
Wireless Revenues
(U.S. dollars in millions)
’97 ’98 ’99
444.4 441.6
929.3
AUDIOVOX
4
Philip Christopher’s
Philip Christopher
President & CEO,
Audiovox Communications Corp.