IN Media Receives $16 Million DLC for Android and Windows 8 Based Tablet Manufacturing
LOS ALTOS CA, Nov 15, 2012 (GlobeNewswire via COMTEX) --
via PRWEB - IN Media Corp. (IMDC.OB) announces the receiving of $16 Million DLC (Documentary Letter of Credit) facilitating the manufacturing of Android and Windows 8 OS Tablet PCs. These exciting products will expand the IN Media product line and add educational Tablets for children ages 6 and up.
IN Media received a 100M Chinese RMB (USD 16 Million) Documentary Letter of Credit (DLC) boost from the financial institution Estrategia Investimentos, SA, to finance the manufacturing cycle of IN Media Tablet PCs in China.
"This financial support would help us to make advance payments to suppliers for parts & manufacturing. This will enable us to reach out to larger markets, and is certainly a giant leap for the company," said Dr. Karnik, CEO, IN Media.
IN Media also renewed for two further years the recent Memo of Understanding signed by Global Green Holdings regarding their intent to purchase Tablet PCs from IN Media for their education program starting in 2013. IN Media has completed the necessary qualification requirements in terms of product features and safety measures needed to enable and childproof IN Media Tablet PCs for educational use.
"We see schools and colleges all over the world adopting tablet PCs as learning aids, using electronic text books rather than paper books, and carrying tablet PCs to school which would lighten their schoolbags, making it cost effective, and ecologically friendly," said Dr. Nick Karnik.
IN Media also upgraded their line from Windows 7 to Windows 8. "Windows 8 OS is an ideal combination of heavy duty business needs and apps based infotainment. This would eliminate the need for a Tablet PC and Laptop carried by the road warriors." Said Dan Mabey, COO, IN Media
About IN Media Corp:
IN Media Corp is an integrator of Internet Protocol Television (IPTV) services, products and content for major platform and service providers (e.g. cable, satellite, and Internet providers). IN Media provides a combination of products and services: set-top box hardware and software services, manufacturing of the set-top boxes, library of content and content aggregation for platform providers to implement an all-in-one solution for IPTV services. More information can be found at: http://www.inmediacorp.com
Certain statements contained in this press release are "forward-looking statements" within the meaning of federal securities laws, including, without limitation, anything relating or referring to future financial results and planned business activities. Such statements are inherently subject to risks and uncertainties, which include, without limitation, those in Company reports filed with the SEC. The Company can give no assurance that such expectations will prove correct. Future events and actual results could differ materially from those statements.
This article was originally distributed on PRWeb. For the original version including any supplementary images or video, visit http://www.prweb.com/releases/2012/11/prweb10137731.htm
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: IN Media Corp.
CONTACT: IN Media Corp
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