|CONCORD CAMERA CORP. BREAKS $100 PRICE BARRIER WITH WORLD'S FIRST 5 MEGAPIXEL SUPER-SLIM DIGITAL CAMERA FOR ONLY $99|
Orlando, FL, February 17, 2005 -- Concord Camera Corp. (“Concord”) (Nasdaq:LENSE), a leader in award-winning, high-quality, affordably-priced cameras, announced today that it will introduce the Concord 5042, the world’s first 5 megapixel super-slim digital camera priced at only $99.00, at next week’s Photo Marketing Association Trade Show (PMA) in Orlando, Florida. The Concord 5042 and higher performance Concord 5040 at $129.00, pack a powerful 5 megapixel sensor into ultra-slim designs, that offer consumers more pixels for the price than ever before.
Concord 5042 – 5 Megapixels and fits in a shirt pocket for only $99.00
Priced at only $99.00, the Concord 5042 is a 5 megapixel digital camera that features 4x digital zoom, has a 1.5” color LCD, and takes AVI movies with sound of up to 15 frames per second. Ultra-thin, with a width of only .8 inches and height of 2.2 inches, the Concord 5042 will be the digital camera of choice for hip, on-the-go consumers who demand high-quality digital photos. The Concord 5042 utilizes easily accessible SD cards, but has the added convenience of 16MB of internal memory when an SD card is not available. The Concord 5042 uses 2 AAA alkaline batteries and is expected to be available in the first quarter of calendar 2005 in Gun Metal Gray at a price of $99.00.
“With the introduction of these super-slim cameras, Concord has once again revolutionized the popular price segment of the digital camera market, offering millions of first-time buyers and family memory keepers greater performance, stylish designs and more pixels for the price than ever before,” said Jeffrey Mandell, VP of Worldwide Marketing, Concord Camera Corp.
Concord 5040 - Slim All Metal Housing, Stylish Colors, and affordably priced at $129.99
Priced at only $129.99, the Concord 5040 is a 5 Megapixel digital camera that features a 4x digital zoom, takes high-quality MPEG -4 movies with sound for up to 30 frames per second and has a large 1.8” color LCD screen. Designed to offer the ultimate in portability, the Concord 5040 is ultra-thin, with a width of less than 1 inch and height of 2.2 inches, so it can be taken anywhere and easily carried in a small purse or pocket. Sleek and trendy, the Concord 5040’s all metal body is available in a variety of fashionable colors including: Papaya Orange, Wine Red, Aqua Blue, Royal Blue, Champagne Gold, and Silver. It uses 2 AAA rechargeable batteries, and comes bundled with a battery charger valued at $15.00 alone. The camera uses ultra compact SD cards, but provides the added convenience of 16MB of internal memory for picture taking when no card is available. The Concord 5040 is expected to be available in April 2005 at a price of $129.99. For more information, see the web site: www.concord-camera.com.
About Concord Camera Corp.
Concord Camera Corp., through its subsidiaries, is a global producer of popularly priced, digital, 35mm traditional and single use cameras. Concord markets its cameras under the trademarks POLAROID, CONCORD, CONCORD EYE Q and JENOPTIK. Concord sells and markets its camera products worldwide through direct sales offices in the United States, Canada, Germany, Hong Kong, the Peoples Republic of China, the United Kingdom, Japan and France and through independent sales agents. The Polaroid trademark is owned by Polaroid Corporation and is used by Concord under license from Polaroid. CONCORD and CONCORD EYE Q are trademarks and/or registered trademarks of Concord Camera Corp. in the United States and/or other countries. The JENOPTIK trademark is owned by Jenoptik AG and is used by Concord under license from Jenoptik AG. Learn more about Concord Camera Corp. at www.concord-camera.com.
Except for the historical matters contained herein, statements in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements, including the statements regarding expected cost savings, our ability to meet customer demands and fulfill customer service obligations and anticipated or expected results and the future implementation of our strategic plan, in particular, the restructuring plan, cost-reductions initiatives and anticipated financial benefits of significantly reducing our reliance on internally designed and manufactured digital cameras and increasing the design and co-development of digital cameras with contract manufacturers, involve risks and uncertainties which may affect the Company's business and prospects, including the risks discussed under "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended July 3, 2004 and subsequently filed reports. Any forward-looking statements contained in this press release represent our estimates only as of the date hereof, or as of such earlier dates as are indicated, and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change.
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