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 November 2, 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.
Date: November 2, 2000 Mr. Gerry A. Racicot
President
<PAGE>
For Immediate Release Thursday November 2, 2000
EIGER TECHNOLOGY ANNOUNCES MP3 PLAYER
SAMSUNG YEPP DEAL
Toronto, Canada- Eiger Technology Inc. (TSE: AXA; OTC BB: ETIFF), one of North
America's leading computer and telecommunications equipment manufacturers,
announced today that collaborative work with electronics giant Samsung
Electronics has resulted in a new MP3 player.
Eiger President and CEO Gerry Racicot, stated, "After joint development, Eiger
will produce a new SAMSUNG YEPP MP3 player which will be marketed world-wide by
Samsung. We estimate this contract will produce revenues in the order of US$25
million in 2001. This is a high growth sector and is in keeping with our
business plan."
Eiger produced the world's first portable MP3 player. It is estimated that the
market for MP3 players will reach US$6.3 billion by 2002/2003.
"With the settlement of the music publishing industry dispute with MP3.com, we
see no end in sight for the expansion of this format and continued expansion in
popularity among music lovers," said Racicot.
Eiger Technology, meanwhile, is pushing into the markets of information
compression as well as GSM phone technology.
"We are a high-tech company with business models that take into account the
variables in the computer peripherals and telecommunications equipment market
places. We are out to exploit market opportunities in order to return maximum
shareholder value, and the MP3 situation is a perfect example of Eiger's
strategy" concluded Racicot.
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
