SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM 6-K
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934
Press Release dated October 27, 2000
Eiger Technology, Inc.
330 Bay St. Suite 602
Toronto, ON
M5H 2S8
[Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40- F]
Form 20-F |X| Form 40-F |_|
[Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information by the
Commission pursuant to Rule 12g3-2(b) under the Securities Act of 1934.]
Yes |X| No |_|
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Eiger Technology, Inc.
/s/ GERRY A. RACICOT
Date: October 27, 2000 Mr. Gerry A. Racicot
President
<PAGE>
For Immediate Release Friday October 27, 2000
EIGER TECHNOLOGY ANNOUNCES FURTHER EXPANSION INTO AUDIO
ENTERTAINMENT WITH COMPAQ
Toronto, Canada- Eiger Technology Inc., (TSE: AXA; OTC BB: ETIFF), one of North
America's leading computer and telecommunications equipment manufacturers,
announced today that it's Digital Audio Player project for Compaq has resulted
in a successful production at Eiger's South Korean plant.
This project was a collaboration with electronics giant Samsung Electron Device.
Eiger President and CEO Gerry Racicot stated, "The Compaq iPac PA-1 Digital
Audio Player is now flowing smoothly off our production lines. Estimated
production value will, we believe, be about US$15 million in the first
production year, which commenced the beginning of August.
"It is a beautiful product and I am sure it will prove extremely popular. It
will certainly compliment the MP3 player we produce for Samsung."
Eiger already produces the world's smallest portable MP3 player. It is estimated
that the market for MP3 players will reach US6.3 billion by 2002/2003.
"We are operating on a broad opportunity front, but it is highly focused and
adjustable as to changing market forces. We believe our business models are
nimble and keep us at the forefront of profitability and shareholder value."
said Racicot.
Eiger currently is experiencing a revenue growth rate of 500+% per annum.
Eiger Technology Inc. is headquartered in Toronto, Ontario. Through it's
facilities in South Korea, New Jersey and California, Eiger manufactures and
distributes electronic and computer peripherals such as 56K fax/modems, MP3
players and DSL modems to OEM and consumer markets worldwide. Eiger also owns
25% of Nixxo Technologies. Nixxo is a GSM chipset and operating system design
company based in California. The GSM cellular market represents 65% of the world
cellular phone market with growth rates of over 30% a year. Eiger is a publicly
traded company listed on the Toronto Stock Exchange (symbol: AXA). Visit Eiger
Technology Inc's web site at www.eigertechnology.com
-30-
For More Information, Please Contact:
Gerry Racicot or Keith Attoe
Eiger Technology Inc.
(416) 216-8659
The management of the company who take full responsibility for its content,
prepared this press release. The Toronto Stock Exchange has not reviewed and
does not accept responsibility for the adequacy or accuracy of this release.
330 Bay Street, Suite 602 Toronto, ON M5H 2S8
p-416-216-8659 f-416-216-1164
