Parrot takes flight with Strike

Announcement posted by Parrot 24 Oct 2008

European consumer electronics company Parrot has announced the extension of an exclusive distribution deal with Australian distributor Strike.

Parrot, the leader in wireless peripherals for mobile phones, has tenaciously re-entered the Australian market, launching several new products including hands free and plug–and-play car kits, digital photoframes and portable wireless stereos, in response to a growing demand in the local market for wireless accessories.

As part of Parrot’s aggressive re-launch into the Australian market they have extended the exclusive distribution agreement with Stirke Group Australia to 2010.

Strike Group general manager Amanda Newberry said the company saw the potential of Parrot’s innovative products to enhance the mobile phone experience.

“Despite being a relatively new player in Australasia, Parrot is well known in the European market, recognised for its innovative product range that pushes the boundary of consumer electronics products,” Ms Newberry said.

Parrot Chairman, CEO and founder Henri Seydoux comments “Strike Group has proved to be an asset to our Australian sales and will prove continued support with the extension of the exclusive distribution agreement.

“Australian’s are known to be early technology adopters who are looking for innovation and a competitive offering. We feel that Parrot is well placed to meet the needs of tech-savvy Australians who are looking for a wireless product alternative.

Commenting on the international market, Mr Seydoux said “despite a difficult market condition, Parrot achieved a sustained rate of business growth over the second quarter of 2008.

“Our international growth rate is close to 30 per cent, and our strong position is enabling us to grow our business with a long-term focus,” said Mr Sedoux.

Mr Seydoux founded Parrot in Paris in 1994, drawing strength from the success of his hands-free kits and calling on his expertise in wireless technology.

Anticipating that mobile phones would become a key part of everyday life, Parrot launched the first wired hands-free car kit in 1998 and the first wireless Bluetooth hands-free kit in 2001.

With mobile phones starting to incorporate cameras and music players, Parrot saw a further opportunity to create devices to release the photos and tracks stored on phones without the need for wires. In 2006, Parrot started developing multimedia products including wireless Hi-Fi systems and LCD photo frames.

Today, Parrot has an internationally focused client base, with 86.6 per cent of sales generated outside of France and recently released its financial results for the second quarter of 2008, achieving a net income of 15.5 million Euros, a 30.5 per cent increase year over year.

Parrot’s revenues for 2007 reached 220 million Euros, which has tripled since 2005, making it one of the fastest growing tech companies in Europe.

Parrot products are available from selected retail outlets including Telstra shops, Retravision, Wow Sight & Sound and online. Visit www.parrot.com or contact Strike Group Australia www.strike.com.au.

-ENDS-

Media contact:

Alice Ridgway, Red Agency

E alice.ridgway@redagency.com.au

P 02 9963 7725

About Parrot:

Founded in 1994, Parrot has rapidly established itself as a pivotal global player for wireless mobile telephone accessories. Drawing on its tried-and-tested expertise in voice recognition and signal processing technologies, Parrot was one of the very first companies to produce Bluetooth-enabled wireless hands-free car kits, having identified this standard’s vast potential as early as 1999.

Determined to accompany the mobile telephone’s irresistible breakthrough into our day-to-day lives, Parrot has been developing a new range of Multimedia products since 2006, including wireless hi-fi systems and LCD photo frames.

Today, Parrot truly has a major international focus, both in terms of its client base, with 86.6 percent of sales generated outside of France, and in terms of production, outsourced to carefully selected partners, enabling it to achieve the best possible level of quality and responsiveness. Parrot is now particularly well positioned to capitalize on the bright future opening up for mobile telephone devices.

Parrot has seen sustained growth in its consolidated revenues, which have tripled since 2005. In 2007, Parrot sold over 5 million product units and generated 220 million Euros in revenues, up 32 percent on 2006.