To: Stock Watcher who wrote (15757 ) 9/27/1999 12:13:00 PM From: Toni Wheeler Respond to of 52051
Mornin' SW... CRUSMicrosoft, Cirrus Unveil Portable Web-Music Player Technology Redmond, Washington, Sept. 27 (Bloomberg) -- Microsoft Corp., the world's largest software maker, said Cirrus Logic Inc. will unveil a new audio chip next month designed to work with Microsoft software in portable music devices, a bid to grab a bigger share of the fast-growing online music business. The companies are seeking to compete in the burgeoning business of selling music online by developing the next line of portable devices that can download and play music from the Internet. Estimates of the growth potential in that market vary, from $147 million to $1.1 billion by 2003. ``We aim to capture a significant percentage of the Internet audio device installed base in the next 12 months,' said Matthew Perry, general manager of Cirrus's imbedded processor division. Microsoft in April launched its MS Audio software, which competes with RealNetworks Inc. in market for software that lets people download and play music from the Internet. Microsoft and Cirrus, the largest supplier of audio computer chips, said the new chips and software will be used in portable audio devices that will be on store shelves in time for the holiday season. MP3.com Inc. is pioneering the distribution of music over the Internet. The company has created a Web site that lets people download CD-quality music, often for free, from a library of over 100,000 songs from more than 18,000 artists. MP3 is a technological format for compressing huge data files, like songs, into manageable chunks that can be transmitted over computer networks. MP3.com shares are up almost 60 percent from its initial public offering price as investors bet that consumers will increasingly buy music that can be directly downloaded from the Web rather than by purchasing compact discs. Sony Corp., a consumer-electronics giant and one of the world's five biggest music companies, on Friday unveiled a portable music device that plays the music found on MP3.com's Web site. The company has also said it will distribute music and videos over the Internet with Microsoft. Diamond Multimedia Systems Inc. introduced the first portable audio player, the Rio, in 1998, and has sold more than 250,000 units, Hambrecht & Quist Inc. estimates. Sep/27/1999 0:07 For more stories from Bloomberg News, click here. (C) Copyright 1999 Bloomberg L.P. Any redistribution of Bloomberg content, including by framing or similar means, is expressly prohibited without the prior written consent of Bloomberg L.P. Any reference to the material must be properly attributed to Bloomberg News. The information herein was obtained from sources which Bloomberg L.P. and its suppliers believe reliable, but they do not guarantee its accuracy. Neither the information, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any securities or commodities.(C) Copyright 1999 Bloomberg L.P. BLOOMBERG, Bloomberg News, Bloomberg Financial Markets, Bloomberg Television, Bloomberg News Radio are trademarks, tradenames and service marks of Bloomberg L.P.