HONG KONG, March 13, 2013 (GLOBE NEWSWIRE) -- Bonso Electronics International, Inc, (Nasdaq:BNSO) today reports labor cost increase for calendar year 2013.
In accordance with the latest regulations from the government, the basic salary of direct labor will increase by 18.8% starting from May 1, 2013. The company has decided to adopt this salary increase from March 1, 2013 to retain its competitiveness, as many of the nearby factories have already followed this change since March 1, 2013. The change will increase not only the direct labor cost but also the material cost from our suppliers. The company will continue to refine its manufacturing process and product design to cope with the cost increase.
About Bonso Electronics
Bonso Electronics designs, develops, manufactures, assembles and markets a comprehensive line of electronic scales, weighing instruments, and health care products. Bonso products are manufactured in the People's Republic of China for customers primarily located in North America and Europe. Company services include product design and prototyping, production tooling, procurement of components, total quality management, and just-in-time delivery. Bonso also independently designs and develops electronic products for private label markets. For further information, visit the company's web site at http://www.bonso.com.
This news release includes forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Forward looking statements may be identified by such words or phrases as "should," "intends," "is subject to," "expects," "will," "continue," "anticipate," "estimated," "projected," "may," "I or we believe," "future prospects," or similar expressions. Forward-looking statements made in this press release, which relate to the demand for our products, among other things, involve known and unknown risks and uncertainties that may cause the actual results to differ materially from those expected and stated in this announcement. We undertake no obligation to update "forward-looking" statements.
CONTACT: For more information please contact: Albert So Chief Financial Officer Tel: 852 2605 5822 Fax: 852 2691 1724