According to the recently announced Q2 survey by market research firm Canalys, Mio Technology's mobile GPS navigation devices have made the company Europe's third-largest GPS vendor, accounting for about 233,000 units of the roughly 2.44 million units shipped in Europe during the quarter. Mio's shipment figure represented an increase of 86 percent over the 125,000 units it recorded in the first quarter. Mio's market share increased sharply from Q1's 6.9% to 9.5% in Q2.


A separate survey conducted by Canalys on the handheld market showed that Mio Technology has already become Europe's second-largest vendor of handhelds (PDAs). During the second quarter, Mio Technology had 65,000 shipments and achieved a market share of 12.5 percent, up from 8.5 percent in the first quarter.


"Mio Technology is growing overseas and in North America. People in the States and Canada are starting to know the Mio brand like they know Garmin, Magellan and Tom Tom," said Kiyoshi Hamai, North American sales director, Mio Technology Ltd. "The North American launch of new C310 and C710 new personal navigation devices, plus some exciting launches in the near future will really get people's attention".


Mio Technology's shipments in the second quarter showed dramatic growth compared to the first quarter, and this was reflected in the Canalys surveys. With new models set to debut and seasonal factors coming into play, the company anticipates a solid third quarter as well.


About Mio Technology Ltd. (MTL)


Mio Technology Ltd. (MTL) operations are worldwide. Foreseeing that the mobile lifestyle and mobile commerce will be mainstays of life in the near future, the company is dedicated to the development of enabling devices. Its main business is the sale of Mio DigiWalker -- branded mobile communication products, such as smartphones, Pocket PCs and handheld GPS systems.


For additional information on MTL and its products, the North American headquarters are located at 47988 Fremont Blvd., Fremont, CA 94538. Phone (510) 252-6950 * fax (510) 252-6930 * e-mail at salesmiogps.com. The company is online at www.miogps.com/index.htm .


Contact:


Meghan Hughes


Tel: +1-415-593-8435


Email: meghanhtext100.com


/Web Site: http://www.miogps.com/index.htm /


For further information: Meghan Hughes, +1-415-593-8435, or meghanh@text100.com