Tech
Set top box manufacturer Pace has upgraded its financial performance guidance for 2009 citing increased demand for pay television services.
The company, which experienced tough trading conditions back in 2002, has now issued upgraded guidance for the second time in the last five weeks.
"Demand for Pace’s products has increased across many of the Group’s global markets and technologies," the company said in a statement. "Pace’s improved market position, the breadth of its product offering and track record for innovation and delivery means Pace is increasingly viewed as a supplier of choice by many of its pay TV operator customers. This combination along with strong market demand and enhanced competitive position has resulted in further orders from new and existing customers to fulfil consumer demand for digital and high definition services."
The company added that demand for "high-end products" such as DVRs and high definition boxes is "growing rapidly", and that only 2% of households across Western Europe have subscribed to HD services at present representing a significant growth opportunity and "an exceptionally positive situation for Pace".
The company, which experienced tough trading conditions back in 2002, has now issued upgraded guidance for the second time in the last five weeks.
"Demand for Pace’s products has increased across many of the Group’s global markets and technologies," the company said in a statement. "Pace’s improved market position, the breadth of its product offering and track record for innovation and delivery means Pace is increasingly viewed as a supplier of choice by many of its pay TV operator customers. This combination along with strong market demand and enhanced competitive position has resulted in further orders from new and existing customers to fulfil consumer demand for digital and high definition services."
The company added that demand for "high-end products" such as DVRs and high definition boxes is "growing rapidly", and that only 2% of households across Western Europe have subscribed to HD services at present representing a significant growth opportunity and "an exceptionally positive situation for Pace".
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