****HERE IT IS -- SHIPPING****** PROJECTAVISION DIGITAL HOME THEATER SHIPS TO RETAILERS;
First Consumer Product Using Texas Instruments DLP Technology
NEW YORK, April 2 /PRNewswire/ -- Projectavision, Inc. (Nasdaq: PJTV) today announced that its first volume production of the Projectavision Digital Home Theater(TM) is being shipped to retailers. The Projectavision unit is the first product employing Texas Instruments (NYSE: TXN) Digital Light Processing(TM) (DLP(TM)) technology to be introduced into the U.S. consumer electronics market.
Projectavision said its Digital Home Theater received final approval for consumer use from the Federal Communications Commission on March 22, 1997 and production commenced last week. Digital Home Theater is the first product of its kind to combine a 60-inch rear-projection television, and a front- projection home theater that delivers high-quality images from 60 to 260 inches in size, and a large front or rear-screen VGA or SVGA computer display in one easy-to-use system, Projectavision stated.
TI is producing the projector engine containing two high resolution DLP semiconductors for the Projectavision unit. "We believe digital imaging and our Digital Light Processing technology can be a strategic business for Texas Instruments and we are pleased with the progress we have made in bringing high resolution imaging to the commercial market. The introduction of the Projectavision Digital Home Theater is an exciting step in the evolution of our technology into the consumer market," said Bob England, senior vice president and manager of digital video for TI's digital imaging business.
"We said we would produce our Digital Home Theater in the first quarter of the year and we have accomplished that objective," said Martin Holleran, chief executive officer of Projectavision. "Our partnership with TI has produced a product that addresses many of the consumer satisfaction concerns that have kept home theater from realizing its terrific potential in the marketplace. We look forward to a successful product introduction."
The foregoing press release contains forward looking statements, including statements regarding, among others items, the introduction of certain of the Company's products. These forward looking statements are based largely on the Company's expectations and subject to a number of risks and uncertainties, certain of which are beyond the Company's control. Actual results could differ materially from these forward looking statements as a result of a variety of factors including, among others, the production schedules of unaffiliated third parties, availability of component parts, consumer acceptance of the Company's product, and prevailing economic industry in general. In light of these risks and uncertainties there can be no assurance that the forward looking statements contained in this press release will in fact transpire or prove to be accurate.
Projectavision, Inc. is a New York based company that is in the business of developing and marketing technology innovations in the electronic display and information industry.
SOURCE Projectavision, Inc.
-0- 4/2/97 /CONTACT: Alex Stanton of Stanton-Crenshaw, 212-727-3300, or alex@stanton-crenshaw.com; Frank Hawkins of Hawk Associates, 305-582-2383, info@hawkassociates.com or hawkassociates.com; or Tony Schor of Investor Awareness, 847-945-2222 or investawar@aol.com/
(PJTV TXN)
CO: Projectavision, Inc.; Texas Instruments ST: New York IN: CPR ENT SU:
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