Surround sound deal for "multi-billion dollar Asian VCD market"..........
SRS Labs Scores Major Win in Multi-Billion Dollar Asian VCD Market With New Licensee Idall
SRS 3D Sound Featured in Products from Idall, One of China's Largest VCD Manufacturers
SANTA ANA, Calif., Sept. 30 /PRNewswire/ -- SRS Labs, Inc. (Nasdaq: SRSL), the world's leading technology solutions provider for audio, video, voice and entertainment products, continues to deepen its penetration in the Asian consumer electronics market. SRS Labs today announces that Chinese consumer electronics giant, Idall Electrical Appliance, Co, Ltd., has chosen SRS 3D Sound as its audio enhancement standard. The first product with SRS technology introduced by Idall is the IV-360BK VCD Player. In 1997, the Chinese VCD market was estimated to be in excess of 10 million units and with Idall holding an estimated 25% of the market, they are one of China's largest providers of VCD players.
The IV-360BK began shipping in China in August 1998 at a retail price of R.M.B $1200.00 (approximately $140.00 U.S.). The IV-360BK VCD Player is one of Idall's highest quality products, combining the best in VCD technology with built-in karaoke functions, compressed MPEG I digital video and two channels of digital audio. The featured SRS 3D Sound enhances audio playback for audio CDs, video CDs as well as karaoke, offering unmatched audio performance compared to other VCD players. In addition, the IV-360BK has a three-disc capacity with continuous play capability while accepting discs from both PAL an NTSC system. The unit plays VCD, CD-I, and CD-DA format discs and has RF, S-Video and dual AV outputs.
"We welcome Idall as an SRS licensee" comments Tom Parkinson, President of SRS Labs, "and we are proud that they have chosen our technology for this exciting new product. We look forward to working with them in the future as they continue to break new technological ground with consumer products, including the next generation VCD technology and DVD." Mr. Parkinson continues, "With expertise in VCD technology and the low cost of manufacturing, many experts agree that China and Southeast Asia will be the world center for the manufacture of digital convergence products, such as DVD players, HDTV, cable set-top boxes, DVD computers and karaoke machines. The combination of our powerful audio and voice technology portfolio and our close relationships with over 50 of China's leading manufacturers puts SRS Labs in a strong position to maximize our opportunities in this strategically important market."
About SRS 3D Sound
SRS 3D Sound is the world's leading 3D audio enhancement technology. With as few as two stereo speakers, SRS broadens the stereo image and creates a powerful 3D sound experience from any mono or stereo signal. Developed after years of research on the psychoacoustics of sound and the dynamics of the human hearing system, SRS 3D Sound restores the audio realism that is masked by traditional recording and playback techniques. With SRS, the speakers are no longer the point source for sound. Instead, the music and sound seem to fill the room, immersing the listener. For more information on the technology, visit the SRS Labs website at srslabs.com.
About SRS Labs
SRS Labs is the leading provider of technology solutions for audio, video, voice and entertainment products. SRS Labs' portfolio of technologies available for license to OEMs worldwide includes stereo enhancement, mono to 3D stereo, virtual audio for multi-channel, (e.g. Dolby-certified, two speaker playback of multi-channel surround sound, such as Dolby Digital), voice intelligibility, advanced speaker design, bass enhancement circuitry and sound positioning technology. Valence Technology, Inc., a wholly owned subsidiary, is Hong Kong's leading, ASIC chip design and technology provider to the Pacific Rim markets. With the addition of Valence Technology, SRS Labs' capabilities include the design of custom ASIC (application specific integrated circuit) chips; the distribution of components, chips and assembly kits for the China and Hong Kong markets; and the manufacture and marketing of home theater and game products for the Asian consumer marketplace.
Audio and voice technology from SRS Labs has shipped in more than 30 million products worldwide, including televisions, home audio receivers, DVD players, movie theater processors, mini-sound systems, car CD players, computers, VCD players, musical instrument products, powered speakers and home digital pianos. SRS Lab's customer base includes over 170 of the world's leading manufacturers, including Sony (NYSE: SNE), Kenwood, RCA, Mitsubishi, Nakamichi, Sharp, Pioneer (NYSE: PIO), Samsung, Kawai, Hitachi (NYSE: HIT), Kurzweil, IBM (NYSE: IBM), Packard Bell, Dell (NYSE: DELL), Compaq (NYSE: CPQ), Micron (Nasdaq: MUEI), Gateway (NYSE: GTW), AST, Acer, Toshiba, General Instruments (NYSE: GIC) and Apple (Nasdaq: AAPL). SRS Labs has also partnered with leading semiconductor companies to introduce digital and analog chip solutions of its technologies. Announced SRS Labs chip partners include Cirrus Logic (Nasdaq: CRUS), Chromatic Research, S3 (Nasdaq: SIII), Zoran (Nasdaq: ZRAN), ST Microelectronics (SGS-Thomson - NYSE: STM), Fujitsu, JPI, Toshiba Semiconductor, Motorola (NYSE: MOT), Philips, Mitsubishi, AKM Semiconductor, Medianix, LSI Logic (NYSE: LSI), and New Japan Radio -- NJRC. SRS Labs' wholly-owned subsidiary, Valence Technology, Inc. distributes components, chips or assembly kits from many of the world's leading technology companies, including Lucent (NYSE: LU), Philips, Oak Technology, National Semiconductor and Rockwell. For more information on SRS Labs' technologies or the company's worldwide licensing program, visit the SRS Labs website at srslabs.com.
SRS, the SRS symbol and the phrase "everything else is only stereo" are registered trademarks of SRS Labs, Inc. in the United States and selected foreign countries. All other brand names mentioned are trademarks or registered trademarks of their respective holders.
Except for historical information contained herein, the matters set forth in this press release, may include forward-looking statements and projections (including statements concerning plans and objectives of management for future operations) 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 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. Factors which may affect results expressed in forward-looking statements include the ability of Idall to successfully market the IV-360BK, the acceptance of the Company's new products and technologies, the impact of competitive products and pricing, the timely development and release of products by suppliers and licensees of the Company, general business and economic conditions, particularly in Asia, and other risks detailed in the Company's Form 10K and Form 10Q statements filed with the SEC.
SOURCE SRS Labs, Inc.
CO: SRS Labs, Inc.; Idall Electrical Appliance, Co, Ltd.
ST: California, China
IN: CPR
SU: LIC
09/30/98 09:13 EDT prnewswire.com
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