Xircom products earned 11awards during fiscal 1997. Key Growth Strategies Xircom is singularly focused in the mobile networking market and offers a solid brand and array of products to meet the needs of mobile PC users. Xircom is committed to strengthening its leadership position with rapid product innovation - the Company introduced 19 new products during fiscal 1997 and is positioned to remain a generation ahead of competition in fiscal 1998 and beyond. Growing alliances and partnerships with key companies such as Intel, Ascend, Bay, Cisco, DEC, Toshiba, and others confirm Xircom's leadership position in the mobile networking space. The Company continues to broaden its business through the addition of major OEM agreements.
Speed is the cornerstone of our long-term business strategy.
In addition, the Company announced expanded GSM digital cellular phone support for its 56K modem and GSM PC Cards in Europe and Asia. The Company announced on October 27th, a strategic relationship with NEC Computer Systems whereby they will supply Ethernet PC Card solutions for the NEC NOW direct business model. NEC Computer Systems will offer branded Xircom LAN adapters to accessorize its Versa notebook computer family. On December 1st, Xircom announced the opening of its new sales office in Seoul, South Korea. Inc. The purchase included certain inventories and manufacturing equipment as well as intangible and intellectual property.