Panasonic to Utilize Universal Electronics Technology to Set New Bar in Consumer Electronics Industry for Remote Controls
CYPRESS, Calif.--(BUSINESS WIRE)--June 15, 2005--Universal Electronics Inc. (UEI) today announced that it has entered into a two year agreement with Panasonic Electronic Devices Co., Ltd. -- a leading international supplier of electronic components -- to provide UEI wireless control technology for remote control devices Panasonic manufactures for consumer electronics products. Panasonic Electronic Devices Co., Ltd. is a subsidiary of Matsushita Electric Industrial Co., Ltd., best known for its Panasonic brand. UEI was selected for its world-class infrared database and leading intellectual property portfolio specializing in wireless control technology.
With a world-class database of infrared (IR) codes for controlling virtually any consumer electronics device and its extensive IP portfolio, Universal Electronics continues to strengthen its leadership in wireless control technology. UEI's unmatched library encompasses over 210,000 device codes covering more than 2,300 consumer electronics brands to date. As more devices enter the market, UEI is committed to ensuring compatibility and ease of control for these devices that will find their way into the living rooms around the world.
"We are very pleased to enter into this relationship with UEI and are confident their innovative technology will help us expand our business globally," says Shuichi Yamamoto, Director of Electromechanical Components Business Unit, Panasonic Electronic Devices Co., Ltd. "After an extensive review of UEI's database and IP, we believe that Panasonic remote controls, powered by their technology, will deliver a superior consumer experience."
UEI will provide microcontrollers to Panasonic over the next two years, for inclusion in remote controls the company will produce for its branded products as well as for OEM customers throughout the world.
"Panasonic is a global leader in both the consumer electronics industry and the electronic components industry because of a commitment to delivering value, quality, and all the rewards that technology offers to its customers all over the world. We are thrilled to share in this commitment and very pleased to be acknowledged for our leadership and expertise in providing the technology to be used in Panasonic remote controls," said Robert Lilleness, president and chief operating officer of Universal Electronics. "As we continue to develop and innovate in our technologies, more CE providers can look to us in delivering solutions for the increasingly complex home environment."
About Panasonic Electronic Devices Company, LTD.
Based in Osaka, Japan, Panasonic Electronic Devices Co., Ltd. is a subsidiary of Matsushita Electric Industrial Co., Ltd. (NYSE:MC). Information about Panasonic and its products is available at www.panasonic.com. Additional company information for journalists is available at www.panasonic.com/pressroom.
About Universal Electronics Inc.
Universal Electronics Inc., based in Southern California, develops software, firmware and turnkey solutions designed to enable consumers to wirelessly connect, control and interact with an increasingly complex home environment. The company's primary markets include original equipment manufacturers (OEMs) in consumer electronics and personal computing, as well as multiple system operators in the cable and satellite subscription broadcasting markets. Over the past 18 years, the company has developed a broad portfolio of patented technologies and the industry's leading database of home connectivity software that it licenses to its customers, including many leading Fortune 500 companies. In addition, UEI sells its universal wireless control products to distributors and retailers in Europe, Asia, Latin America and Australia under the One For All(R) brand name. More information about UEI can be obtained at http://www.uei.com.
This press release contains forward-looking statements that are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. Words and expressions reflecting something other than historical fact are intended to identify forward-looking statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development, ordering, delivery and market acceptance of products and technologies identified in this release; the Company's continued ability to design products in a fashion that results in its technology becoming the standard for handheld devices; the continued importance of the Company's database of codes; and other factors described in the Company's filings with the Securities and Exchange Commission. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
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SOURCE: Universal Electronics Inc.