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Melissa Stone

Porter Novelli
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melissa.stone@porternovelli.com

 

 

NEW AGE ELECTRONICS AND PANASONIC EXPAND EXCLUSIVE DISTRIBUTION AGREEMENT

Panasonic turns to New Age to drive sales in the retail channel with its legendary experience, forecasting ability and strong industry relationships

Orlando, Fla.—February 27, 2006, 2006—New Age Electronics, Inc. (New Age), a leader in sales, logistics, remanufacturing and supply chain solutions for the consumer technology and photo-specialty industry, announced today the expansion of its relationship with Panasonic Consumer Electronics Company, a division of Panasonic Corporation of North America, the principal U.S. subsidiary of Matsushita Electric Industrial Co., Ltd. (NYSE: MC). New Age, which first became associated  with Panasonic in September 2004, will now be Panasonic’s exclusive West Coast distributor, covering California, Nevada, Washington, Oregon and Idaho.

 

New Age’s role will be expanded across Panasonic’s complete line and will specialize in Panasonic’s line of digital photo and entertainment products from Viera^™ plasma and LCD digital televisions to Diga^™ DVD recorders to digital cameras. With New Age, Panasonic will reduce time-to-market, maximize product shelf life and increase profit margins with an even more streamlined supply chain process. In addition, New Age will expand its retail training and vendor certification programs to help retailers deal with the technical challenges presented by the migration of new digital technologies into the living room.

 

“With the continuing expansion of digital convergence the industry is ripe for growth and innovation. New Age is well positioned to help company’s meet the new challenges of this industry by leveraging long-standing retail relationships, training to better understand the products and industry and ultimately how to make money in this changing market,” said Adam Carroll, President, New Age Electronics, Inc. “We greatly value our relationship with Panasonic and look forward to helping them be even more successful in the retail marketplace.”

 

“Our relationship with New Age has been invaluable as the company not only understands Panasonic’s business, but their unique approach to vendor managed inventory, accuracy in forecasting and dedicated account management has enabled us to strengthen our overall position with retailers,” said Ed Wolff, Vice President – Distributor Sales, Panasonic Consumer Electronics Company.

 

New Age has assembled a formidable suite of imaging, computing and entertainment connectivity products and provides retailers with a single source for individual product lines and bundled solutions. This has become increasingly important, as industries such as photography and home theater shift to digital formats and businesses are looking to identify new growth opportunities. As competition becomes fierce, identifying ways to efficiently take product to the right markets has never been more important.

 

About New Age Electronics, Inc.
New Age Electronics is a sales and supply chain solutions innovator that provides consumer technology (CT) manufacturers with a broad offering of logistics, distribution and remanufacturing services. Extensive experience in the CT industry and a customer-centric approach has made New Age the provider of choice for manufacturers such as HP, Panasonic and Sharp, and national and regional retailers such as Big Lots, Aaron’s Rents and Nebraska Furniture Mart. New Age distinguishes itself with extremely efficient operations and relentless focus on customer satisfaction. Founded in 1988, New Age is headquartered in Carson, Calif. For more information on New Age, call (310) 549-0000, toll-free (888) 234-0300 or visit the company’s Web site at http://www.newageinc.com.