ESS Technology Announces 4 Design Wins for Its Internet Set-Top Box
Solution With Internet Access and E-Commerce Features
newsalert.com
FREMONT, Calif., Dec. 2 /PRNewswire/ -- ESS Technology, Inc. (Nasdaq: ESST) today announced key design wins for its
Internet Set-Top solution with VNet Information Co., Ltd. in Hong Kong; Labway Corporation in Taiwan; Szechwan New
Century Group in China; and MaxMagic, Incorporated in Sunnyvale, California.
ESS' Internet Set-Top solution is a highly integrated, cost-effective chipset solution that enables VideoCD (VCD), Super
VCD, and DVD manufacturers to include Internet and E-Commerce features at minimal incremental cost. The ESS solution
combines ESS' proprietary technology including its digital video, modem, and mixed signal technologies.
"We are pleased with the rapid adoption of our Internet Set-Top solution by several key players in major markets, and we
expect that our solution will enable these OEMs to deliver their products with advanced features at a breakthrough price point
to address the worldwide consumer demand for Internet access," said Johnston Chen, ESS' Vice President of Consumer
Products.
ESS believes that Internet access through Internet Set-Top boxes as a home appliance for web surfing, E-mail exchange, and
E-Commerce will appeal to a broader user base because it can be more user friendly, and will move Internet access from the
typical PC environment to a more family oriented environment such as the living room. ESS has partnered with Japan's Access
Co., Ltd., a Tokyo-based leading consumer software company, for joint development of the NetFront browser system for the
ESS Internet Set-Top solution.
VNet Information Co., Ltd.
VNet has been a pioneer in offering Internet access in China and Asia and is the sister company of MPEG Systems, which is
one of the world's largest VCD manufacturers. Using the ESS Internet Set-Top solution, VNet introduced the first multifunction
Internet Set-Top Box (VWeb) that combine Super VCD and web browser functions. "As an Internet Service Provider, I have
been looking for a low cost multifunction Internet Set-Top box solution for household use. As one of the pioneers and largest
VCD manufacturers, we are excited to find ESS offering the solution that meets our needs," commented Jacky W. S. Chan,
President and Managing Director of VNet and MPEG Systems. "By providing an easy-to-use appliance for Internet,
E-Commerce, and service information, I believe this will expand the Internet market in China and Asia," added Mr. Chan.
Labway Corporation
Labway is the largest PC audio card manufacturer worldwide with factories in Taiwan and China. Labway has established sales
channels in Taiwan, Europe, and the US. Labway is planning to introduce its multi-function Set-Top Box, based on ESS'
solution, in the first quarter of 1999.
Szechwan New Century Group
Szechwan New Century Group is a major Chinese company with leading technology in digital video and networking related
products, including DVD players, Digital TV, Internet Set-Top Box and network systems for consumers and government
agencies. The company plans to introduce its Internet Set-Top Box in the first quarter of 1999.
MaxMagic, Incorporated
Based in Sunnyvale, California, MaxMagic designs and markets Internet Set-Top Boxes for the US and Japanese markets. As
one of the first adopters of the ESS solution, MaxMagic's Set-Top Box product was introduced during the Comdex Show in
November 1998.
ESS Technology, Inc. supplies integrated Internet access, modem, PC audio, and digital video solutions for the PC and
consumer markets. ESS designs, develops, and markets highly integrated mixed signal semiconductor, hardware, software and
system solutions for Internet access, PC and multimedia applications. ESS, headquartered in Fremont, California, has sales and
technical support offices in Austin and Houston, Texas; Irvine, California; Bellevue, Washington; Beijing and Shenzhen, China;
Tokyo, Japan; Taipei, Taiwan; Seoul, Korea; and Hong Kong. ESS Technology is listed on the NASDAQ Market System
under the symbol ESST. World Wide Web site: esstech.com.
The matters discussed in this news release include certain forward looking statements that involve risks and uncertainties,
including, not limited to, the ability of the Company's OEM customers to develop and market products incorporating the
Company's Set-Top Box solution within the expected time frames and at attractive price point, timely availability and
acceptance of the Company's new products including its Set-Top Box solution, the impact of competitive products and pricing,
the dependence on continued growth in demand for Internet access and E-Commerce and PC and consumer multimedia
products, as well as the other risks detailed from time to time in the SEC reports of ESS, including the reports on Form 10-K
and Form 10Q. Actual results could differ materially from those projected in the forward-looking statements.
SOURCE ESS Technology, Inc.
/CONTACT: Johnston Chen, Vice President Consumer Products Division of ESS
Technology, Inc., 510-492-1088, or investors, 510-492-1155/
/Company News On-Call: prnewswire.com or fax,
800-758-5804, ext. 108866/
/Web site: esstech.com
(ESST) |
