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INVESTMENT IN EQUITY METHOD INVESTEES | 12 Months Ended
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Dec. 31, 2014
INVESTMENT IN EQUITY METHOD INVESTEES [Abstract] |
INVESTMENT IN EQUITY METHOD INVESTEES |
| 5 | INVESTMENT IN EQUITY METHOD INVESTEES
Actions Microelectronics Co., Ltd (Beijing) ("Beijing Actions") Beijing Actions is a private company which designs and manufactures SoC products for portable media players and digital photoframe. As of December 31, 2013 and 2014, the Group owned 45.8% interest of equity interest in Beijing Actions. No change in ownership interest and no additional capital injection were noted for 2012, 2013 and 2014 and the Group continues its significant influence in Beijing Actions as of December 31, 2013 and 2014. Nann Capital Corporation ("Nann Capital") Nann Capital is a private investment holding company and the Group owned 40% interest of equity interest in Nann Capital. The Group exercise significant influence but did not control Nann Capital and the investment in Nann Capital is accounted for under the equity method of accounting. In April 2013, the Group further invested $3,712 to maintain its 40% interest due to a capital contribution by all shareholders. In May 2014, the Group further invested $9,016 to maintain its 40% interest due to a capital contribution by all shareholders. The carrying value of equity method investees is illustrated as below:
|  | At December 31, |
|  |  | 2013 |  | 2014 |
Beijing Actions |  |  | $ | 2,856 |  | $ | 3,332 |
Nann Capital |  |  |  | 14,987 |  |  | 24,020 |
|  |  | $ | 17,843 |  | $ | 27,352 |
The summarized financial information prepared in accordance with U.S.GAAP of equity method investees is illustrated as below:
|  | 2013 |  |  | 2014 |
Balance sheets |  |  |  |  |  |  |  |
Current assets |  | $ | 13,714 |  |  | $ | 24,187 |
Non-current assets |  |  | 31,909 |  |  |  | 44,439 |
Current liabilities |  |  | 583 |  |  |  | 1,200 |
Non-current liabilities |  |  | - |  |  |  | - |
|  | 2012 |  |  | 2013 |  |  | 2014 |
Results of operations |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 4,904 |  |  | $ | 5,446 |  |  | $ | 9,144 |
Gross profit |  |  | 2,700 |  |  |  | 3,056 |  |  |  | 5,478 |
(Loss) income from operations |  |  | (555 | ) |  |  | (933 | ) |  |  | 653 |
Net (loss) income |  | $ | (9 | ) |  | $ | (787 | ) |  | $ | 1,093 |

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=35687916&loc=d3e32787-111569 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=35687916&loc=d3e32847-111569 + Details
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