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OTI Restructures its Marketing Strategy to the Chinese Markets

Tuesday 29 June 2004 13:06 CET | News

On Track Innovations has restructured its marketing strategy to the Chinese markets by focusing on direct sales of its SmartID products in China, and by selling its 50% stake in the e-Smart System joint venture to its partner.

e-Smart System will continue to distribute OTIs micropayments and other products on a non-exclusive basis. OTI has been marketing its products to the Asian market via the e-Smart System joint venture since January 2000. For the year ended December 31, 2003 and the three-month period ended March 31, 2004, the e-Smart Systems joint venture accounted for approximately 1% and about 0.6% of OTIs total revenues on a consolidated basis, respectively. The sale of OTIs interest in the e-Smart System joint venture is expected to result in multiple strong marketing channels for OTIs products in the Asian market by enabling OTI to focus on directly selling its SmartID products while e-Smart continues to distribute OTIs micropayments and other products on a non-exclusive basis.


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Categories: Payments & Commerce | Cards
Countries: World
This article is part of category

Payments & Commerce