SyQuest CEO Responds to Iomega Suit
July 30, 1997 06:55 PM
FREMONT, Calif.--(BUSINESS WIRE)--July 30, 1997--SyQuest
President and CEO Ed Harper today called Iomega Corporation's claim of
patent infringement and attempt to stop SyQuest from using SyQuest's
SyJet(TM) trademark, "a reckless marketing ploy and without any basis in
fact."
"Obviously, Iomega is feeling the heat," Harper said. "Our SyJet drive is
getting rave reviews and winning the industry's most prestigious awards.
In addition, Iomega knows we are about to launch an aggressive marketing
and advertising campaign designed to help us retake the leadership position
at the high end of the removable storage market. This suit is designed to
distract us from our focus."
"Recently, Iomega has had to do a product recall, is facing a class action
suit from its own customers over product warranties, and has seen several
of the company's top executives leave to join SyQuest. We think Iomega
has every reason to be concerned."
SyQuest invented high performance removable storage and holds 50
patents specific to this technology, issued or pending. "Iomega's core
competency is floppy technology, not rigid technology. The high
performance removable storage category belongs to us," Harper said.
"Two years ago, Iomega lured consumers with a low-end product entry,
but technology and consumers have moved forward. Today's consumer
needs more than just 'stuff' and is looking for a higher performance
cartridge product like our SyJet," Harper said.
In the last six months, SyQuest's SyJet has won "Editor's Choice" and
"Best Buy" awards in PC Magazine, Windows Magazine, PC Computing
and Home Office Computing, beating the Iomega entry in every case.
"Perhaps Iomega is recognizing it can't compete on product merits and is
attempting to move the battle from marketplace into the courtroom,"
Harper said.
About SyQuest
Based in Fremont, Calif., SyQuest Technology, Inc. invented the high
performance cartridge category. Founded in 1982, the company has
shipped more than 16 million cartridges which customers use to hold their
ideas and creations. SyQuest (SYQT) is publicly traded on the NASDAQ's
National Market System. SyQuest is located at 47071 Bayside Parkway,
Fremont, Calif. 94538-6517. Phone: 510/226-4000 URL:
syquest.com.
This news release contains forward-looking statements that involve risks
and uncertainties, including competition in the marketplace for the
company's products, and other risks detailed from time to time in the SEC
reports filed by SyQuest including its most recent reports on Forms 8K,
10K and 10Q.
Note to Editors: SyQuest and the SyQuest logo are registered trademarks
and SyJet is a trademark of SyQuest Technology, Inc. All other brands or
trademarks are the property of their respective companies. |
