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PRESS RELEASE: SimpleTech® Selected by HP to Deliver Flash Cards
New Flash Products to Hit Retail Shelves in North America, Latin America, Europe, Middle East, Africa, Australia and New Zealand
SANTA ANA, Calif., January 16, 2006 SimpleTech, Inc. (Nasdaq: STEC), a designer, manufacturer and marketer of custom and open-standard memory and storage solutions based on Flash memory, DRAM and hard disk drive technologies, today announced that it has been selected by HP to deliver HP-branded Flash Cards that support some HP consumer electronic devices.
Under a multi-year agreement, SimpleTech will provide an array of HP-branded Flash cards including Secure Digital, MMC (MultiMediaCards), MiniSD, RS-MMC, MicroSD and CompactFlash cards in North America, Latin America, Europe, Middle East, Africa, Australia and New Zealand.
"We are pleased that HP has chosen SimpleTech for select Flash cards," said Manouch Moshayedi, chairman and chief executive officer at SimpleTech. "SimpleTech's technical expertise, supply chain competencies and in-depth Flash industry experience complement HP's strong brand name in consumer electronic devices that use Flash memory and storage products."
Pricing and Availability
HP-branded Flash cards are currently available worldwide through SimpleTech's online store at www.SimpleTechDirect.com. In North America, HP-branded SD cards are also available at HPShopping.com. The products are also expected to be available through retail channels. Available capacities range from 128MB to 4GB with manufacturer's suggested retail prices ranging from $19.99 to $379.99.
SimpleTech, Inc. designs, manufactures and markets custom and open-standard memory and storage solutions. With headquarters in Santa Ana, California, the company offers a comprehensive line of more than 2,500 products and specializes in developing high performance and high-density memory modules, memory cards and storage products. For more information, visit the company's Web site at www.simpletech.com.
This release may contain forward-looking statements that involve risks and uncertainties, including, but not limited to, statements concerning the performance of HP-branded Flash cards and concerning increase in SimpleTech Inc.'s revenues and profitability. Actual results may differ materially from the results predicted. Important factors which could cause actual results to differ materially from those expressed or implied in the forward-looking statements are detailed under "Risk Factors" in filings with the Securities and Exchange Commission made from time to time by SimpleTech, including its Annual Report on Form 10-K, its quarterly reports on Form 10-Q, and its current reports on Form 8-K. Other factors that could cause our actual results to differ materially from those expressed or implied in the forward-looking statements include the following risks: HP-branded Flash cards may not perform in the manner anticipated, customer demand for such products may not grow as projected and new technological advancements in the field might produce more competitive products. SimpleTech undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events.
SimpleTech is a registered trademark of SimpleTech, Inc. in the United States and other countries. All other trademarks referred to herein are the property of their respective owners.
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(First posted on Friday, January 13, 2006 at 12:01 EST)