Vtech 2003 Annual Report Download - page 22

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Year in Review
VTech Holdings Ltd
20
Apr 2002
VTech Telecommunications Ltd
announced agreement with a
leading provider of global
supply management (GSM)
solutions to select one of its
services as a platform for
sourcing materials and services
for its operations.
Andy LEUNG was promoted
to CEO of the Contract
Manufacturing Services
business.
May 2002
VTech Corporate Services Ltd
attained the ISO9001: 2000
certification and got “zero
defect” for its final result.
Jun 2002
VTech announced its financial
year 2002 annual results,
showing strong profit rebound
and a marked improvement in
the balance sheet.
To further enhance the Group's
corporate governance system,
Chairman and Group CEO Allan
WONG appointed Paddy LAW to
take over his role as Group CEO,
while Allan remains as
Chairman.
VTech reached a mutually
satisfactory settlement with
Lucent Technologies Inc.
(Lucent) relating to a dispute
arising from the acquisition by
the Group of Lucent’s Wired
Consumer Products Business in
2000. Under the terms of the
settlement, Lucent has agreed to
adjust the purchase price of the
acquisition downward by
US$50.0 million.
Sept 2002
Our Contract Manufacturing
Services business was ranked
one of the top 100 contract
manufacturing service providers
for the year 2001.The ranking
was published by the magazine
”Electronics Business” in the top
Contract Manufacturers Issue.
Knights of Knowledge was
named one of the Dr. Toy’s
“Best 100 Children’s Products
for 2002”.
Oct 2002
VT2418 2.4GHz cordless phone
was awarded the Good Design
Award 2002 by Japan Industrial
Design Promotion Organization.
IQ HA HA was honoured the
Certificate of Merit in Consumer
Product Design in 2002 by the
Federation of Hong Kong
Industries.
Sixteen-year VTech veteran
Edwin YING was appointed the
new CEO of the Electronic
Learning Products business
replacing Dennis Perry.
Nov 2002
VTech announced its financial
year 2003 interim results,
returning to net cash position.
Smarty’s Workshop was named
“Toy of the Year” in the category
of “Play Imitation” by the toy
magazine named “La Revue du
Jouet” in France.
VTech Electronics Europe Plc
was named the "Best High
Tech/Software Company" for
the year 2002 by the readers of
Right Start Magazine in the UK.
Dec 2002
VTech Telecommunications Ltd
was awarded the 2002
Customer Award from Philips
Semiconductor.
VTech Telecommunications Ltd
upgraded the ISO9001 to 2000
version and attained the TL9000
certification.