(COMTEX) B: Spatializer Audio Laboratories Inc. Steps Up Pacific Rim
B: Spatializer Audio Laboratories Inc. Steps Up Pacific Rim Licensing
Initiative With the Signing of ReignCom Ltd. in Korea Appointment of New
Technology Marketing Representative in Korea Puts in Place A 'Force Multiplier'
Strategy to Dominate Portable and Internet Entertainment Markets
SANTA CLARA, Calif., May 15, 2001 /PRNewswire via COMTEX/ -- Spatializer Audio
Laboratories Inc. (OTC Bulletin Board: SPAZ) today announced the appointment of
ReignCom Ltd. as its technology marketing representative in Korea. ReignCom is a
leading technical marketing and solutions provider with over 50 employees in
offices in Seoul. Among ReignCom's distribution lines are semiconductors from
Cirrus Logic and LuxSonor. ReignCom is also a major designer of portable digital
music players.
(Photo: newscom.com )
The Internet audio player world market is estimated to quadruple in 2001 to
above 4 million units and is predicted continue to increase at a 109 percent
compounded annual growth rate to 30 million units in 2002. By 2005, demand for
MP3 players is expected to surpass conventional cassette tape recorders.
Meanwhile the number of OEMs manufacturing MP3 devices swelled from a handful a
year ago to more than 50 at present. Korea is now a major producer and exporter
of electronics, including MP3 devices, exporting ten times the number of devices
that it consumes domestically.
"Penetration and dominance of the MP3 player market is one of our top priorities
for 2001," says Henry R. Mandell, chairman and chief executive officer of
Spatializer Audio Laboratories Inc. "Korea is by far the world leader in MP3
player design and manufacturing ... and a global consumer electronics
powerhouse. Therefore, the Korean market is strategically important to our
company."
Mandell explains that because Spatializer's digital technology dramatically
improves the audio experience delivered by MP3 players, the company is able to
develop key strategic relationships with leading DSP companies to provide
cost-effective, low-powered off-the-shelf audio solutions. "ReignCom's
experience, contacts, technical resources and customer base permit us to
leverage these dynamics. All of these ingredients, we believe, combine to
deliver us an overwhelming competitive advantage."
This latest agreement significantly expands Spatializer's Pacific Rim
representation. The company appointed ReignCom Ltd. as its technology marketing
representative in Hong Kong and China last month. Last December Spatializer
signed Internix Inc., Japan's leading technical distributor, to market
Spatializer's audio enhancement software solutions throughout Japan. Internix,
has nine sales offices and 200 employees serving many of the leading consumer
electronics manufacturers in Japan. Both ReignCom and Internix represent leading
audio processor manufacturers, such as Cirrus Logic.
Mandell says that he believes that Spatializer has outflanked its competition.
"With this announcement and our earlier announcements of our alliances with
Internix in Japan and ReignCom in China, we have now put into place a completely
restructured and potent Pacific Rim distribution organization. In the military
this would be called a 'force multiplier,' whereby we believe we can deliver a
sales and marketing effort many times over the strength of its individual
components.
"By synergistically leveraging the DSP foundry and OEM relationships, and those
relationships that our Internix and ReignCom partners can bring to bear, we
think we have the tools to dominate the portable and Internet audio markets as
we now dominate the DVD market," Mandell asserts. "We are confident that our
distribution partners' access to Asian markets, their distribution relationships
with key audio processor foundries and Asian OEMs, combined with our extensive
OEM relationships and our recently announced collaboration with Texas
Instruments will provide unparalleled licensing opportunities for Spatializer
audio software applications."
"We are pleased to be broadening our market territory with Spatializer Audio
Laboratories," says Joon Yang, president and chief executive officer of ReignCom
Ltd. "Over the past few years, we successfully built our company by providing
effective solutions and marketing acumen with a view toward long term
partnerships. Spatializer's technology and its relationships with the top
semiconductor companies serving the Asian markets are powerful tools that we
intend to leverage to the fullest. Further, as a major manufacturer and designer
of portable audio players, we see additional long-term synergies from our
Spatializer relationship."
About Spatializer
Spatializer Audio Laboratories Inc. is a leading developer, licensor and
marketer of next-generation technologies for the consumer electronics, computing
and entertainment industries. The company's advanced audio technology is
incorporated into consumer electronics audio, video and DVD products from global
brand leaders including Toshiba, JVC, Panasonic, Hitachi, Samsung, Acer, Sharp,
Sanyo, LG, Zenith and Proton, in PC multimedia systems and peripherals from
Apple and Labtec, in silicon from Matsushita, Texas Instruments, New Japan Radio
Corporation, Zoran, Motorola, C-Cube, Tvia, VM Labs, LinkUp and Acer
Laboratories Inc, and in software compatible with MP3 players such as WinAmp and
embedded with RISC cores from MIPS Technologies. Spatializer stock is traded on
the OTC Bulletin Board under the symbol: SPAZ. The company is headquartered in
Santa Clara, CA, with marketing offices in Tokyo, Japan. Further information may
be obtained from the company's web site, www.spatializer.com, Spatializer's SEC
filings, and by contacting the company's Investor Relations Department toll-free
at 888-825-0743 or by writing to spaz@mdcgroup.com.
About ReignCom Limited
ReignCom Ltd. is one of the leading technical marketing and solutions providers
in Korea and Hong Kong. ReignCom was founded in 1997 as a research and
engineering company and developed the first VCD solution, which was introduced
in the Chinese market in 1998. In 1999, ReignCom launched its semiconductor
marketing division and since then, was appointed agent for Cirrus Logic, Ambient
, Microtune, LuxSonor and NETsilicon.
Safe Harbor Act Statement Under the Private Securities Litigation Reform Act of
1995: Certain information in this background news release, including the
comments by Mr. Mandell and Mr. Yang in this press release are forward looking
statements that are based on management's belief, as well as assumptions made
by, and information currently available to management. While the company
believes that its expectations are based upon reasonable assumptions, there can
be no assurances that the company's financial goals will be realized. Numerous
uncertainties and risk factors may affect the company's actual results and may
cause results to differ materially from those expressed in forward-looking
statements made by or on behalf of the company. These uncertainties and risk
factors include, but are not limited to the continued need for additional
capital, dependence on new technology and intellectual property, dependence on
the PC and consumer electronics industries, dependence on product shipments of
third-party licensees, competition and pricing pressures, and other risks
detailed from time to time in the company's periodic reports filed with the
Securities and Exchange Commission.
NOTE: Desper Products Inc. is a wholly owned subsidiary of Spatializer Audio
Laboratories Inc. Spatializer(R) is a registered trademark of Desper Products
Inc. All other trademarks are the property of their respective owners.
MAKE YOUR OPINION COUNT - Click Here
tbutton.prnewswire.com
SOURCE Spatializer Audio Laboratories Inc.
CONTACT: Investor Relations of MDC Group Inc., 888-825-0743,
spaz@mdcgroup.com, for Spatializer Audio Laboratories Inc.
/Photo: newscom.com
GO-b
PRN Photo Desk, 888-776-6555 or 201-369-3467
URL: spatializer.com
prnewswire.com
(C) 2001 PR Newswire. All rights reserved.
-0-
KEYWORD: California
South Korea
China
INDUSTRY KEYWORD: CPR
MLM
ENT
CSE
OTC
SUBJECT CODE: OTC
*** end of story *** |
