Singing Machine Announces Opening New Hong Kong Office

Rhea-AI Summary

Singing Machine, a leader in consumer karaoke products, has announced the opening of a new office in Hong Kong on April 19, 2023. Located in Kowloon’s East Tsim Sha Tsui, this office will function as a vital support hub for manufacturing in Southern China and will include shipping, finance, and research & development. The new facility will also house a sales showroom to aid international sales. CEO Gary Atkinson expressed enthusiasm for leveraging this strategic location to enhance regional and global sales opportunities. Singing Machine’s extensive product line, which includes karaoke machines and Bluetooth microphones, is available in over 25,000 locations worldwide, significantly boosting their market presence.

Positive

• New office in Hong Kong enhances operational capabilities.
• Strategic location improves logistical support for manufacturing.
• Expansion is expected to drive regional and international sales.

Negative

• None.

Singing Machine Opens New Office in Hong Kong to Support Manufacturing and Showroom for Sales

Fort Lauderdale, FL, April 19, 2023 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine” or the “Company”) (NASDAQ: MICS) – the worldwide leader in consumer karaoke products today announced it has opened a new office in the key international trade district of Kowloon, Hong Kong. The new offices will be centrally located in the influential business district of East Tsim Sha Tsui, centrally located to many international retail buying offices that have strong and long-standing commercial relationships with the Company.

Singing Machine is the market leader in home consumer karaoke products with a focus on innovation and expanding digital content services. Singing Machine’s product line includes karaoke machines, accessory microphones, stand-alone Bluetooth^™ microphones, and the widely popular Carpool Karaoke^™ microphone, designed for use in cars. The new office will act as a critical support and logistical hub for manufacturing in Southern China and will include functions such as research and development, shipping, finance, and a world class sales showroom to support international sales.

Gary Atkinson, CEO of Singing Machine, commented, “We are excited to be opening our new doors in Hong Kong. This is a highly influential international gateway to China and a dominant market for global consumer electronics. We look forward to fully leveraging this location to drive our growing regional and international sales opportunities.”

About The Singing Machine

Singing Machine^® is the leading provider of karaoke products to consumers across the world. The Company offers the industry's widest line of at-home and in-car karaoke entertainment products, which allow consumers to find a machine that suits their needs and skill level. The Company’s products are sold in over 25,000 locations worldwide, including at well-known retailers such as Amazon, Costco, Sam’s Club, Target, and Walmart. As the most recognized brand in karaoke, Singing Machine products incorporate the latest technology and provide access to over 100,000 songs for streaming through its mobile app and select WiFi-capable products. To learn more, go to www.singingmachine.com.

Investor Relations Contact:
Brendan Hopkins
(407) 645-5295
investors@singingmachine.com
www.singingmachine.com
www.singingmachine.com/investors

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as "may", "could", "expects", "projects," "intends", "plans", "believes", "predicts", "anticipates", "hopes", "estimates" and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks and are based upon several assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the Company's control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the risk factors described in the Company's filings with the Securities and Exchange Commission. The forward-looking statements are applicable only as of the date on which they are made, and the Company does not assume any obligation to update any forward-looking statements.

FAQ

What is the significance of Singing Machine's new office in Hong Kong?

The new office will serve as a manufacturing support hub and sales showroom, enhancing logistical operations and sales opportunities.

When did Singing Machine open its new office in Hong Kong?

Singing Machine opened its new office on April 19, 2023.

How will the new Hong Kong office impact Singing Machine's sales?

The office is expected to leverage local relationships to drive regional and international sales growth.

What products does Singing Machine offer?

Singing Machine offers a variety of karaoke products, including machines, microphones, and the Carpool Karaoke system.

Where are Singing Machine products sold?

Singing Machine products are sold in over 25,000 locations, including retailers like Amazon, Costco, Sam's Club, Target, and Walmart.