TechnoConcepts' Chinese subsidiary Jinshilin Techno has completed its first milestone by shipping set-top boxes to the Shanghai Forests Information Technology Company and the Television and Broadcast Bureau of the Henan Province.
The units will be integrated into an IPTV (Internet Protocol Television) demonstration network being built by Shanghai Forests in cooperation with Alcatel Network Support System Company for the Bureau's project to supply in-home television service to the rural residents of the Henan Province.
The second milestone calls for shipment of an additional 100,000 units by June 2007 for deployment in Shangqiu, a city with two million rural users. By the end of 2009, the subsidiary expects to have shipped two million units according to its Cooperation Agreement with Shanghai Forest.
"This shipment marks a significant accomplishment for Jinshilin Techno," said Antonio Turgeon, Chairman and CEO of TechnoConcepts. "Today's shipment of the first set-top boxes validates our efforts expended over the past year. This puts us well on the way to establishing our revenue producing activities in this area." Turgeon has already said that this project could have a value of approximately $200 million to Jinshilin Techno when all units are fully deployed. This revenue stream would be separate from the company's True Software Radio(TM) technology, which is nearing commercialization. Turgeon additionally stated that "due to the magnitude of this project, Alcatel Network Support System has initiated an extensive deployment planning program to assure timely completion of the full two million units."