Pioneer Electronics PureVision Plasma Televisions Powered by Universal Electronics Connectivity Software; Leading CE Manufacturer License's UEI's World-Class Infrared Database
CYPRESS, Calif., Jul 11, 2005 (BUSINESS WIRE) -- Universal Electronics Inc. (UEI) (NASDAQ:UEIC) today announced that it has entered into an agreement with Pioneer Corporation (NYSE:PIO) to extend the current license of proprietary connectivity software for use in several of Pioneer's PureVision plasma television products.
Under the new license agreement extension, Pioneer will rely on UEI's extensive database of infrared (IR) codes to ensure that traditional home entertainment devices, such as VCR and DVD players, can be controlled by certain currently available consumer plasma televisions. UEI's technology was selected to ensure compatibility between the plasma displays and most other brands of consumer electronics (CE) devices consumers may have in their entertainment stack.
As the number of CE devices continues to grow, control of the various brands becomes an increasingly complex task. UEI's IR database, which allows for control of more than 2,400 brands and 200,000 device functions, provides the most comprehensive and accurate coverage in the world. The breadth of control enables seamless compatibility and ease of use for the end consumer, despite the increasing number of technology and entertainment devices entering today's home.
"UEI's solutions allow Pioneer to offer consumers seamless control and communication between various products by utilizing UEI's unmatched IR code database. We are pleased to feature this technology in our plasma product offerings," said Russ Johnston, senior vice president of marketing for home entertainment at Pioneer Electronics (USA) Inc.
"With the proliferation of devices in the home today, a seamless control experience for the consumer is crucial," said Paul Arling, chief executive officer of Universal Electronics. "Pioneer is one of the largest and most popular CE manufacturers in the world and we are excited to strengthen our relationship with Pioneer, a trusted name in the high-performance audio video space. Companies around the globe can rely on UEI to deliver complete solutions for today's advanced home."
About Pioneer Corporation
Pioneer Corporation, is a leader in optical disc technology and a preeminent manufacturer of high-performance audio, video and computer equipment for the home, car and business markets. The company focuses on four core business domains including DVD, display technologies, Digital Network Entertainment and components. Founded in 1938 in Tokyo, Pioneer Corporation (NYSE:PIO) employs more than 39,000 people worldwide. Its shares are traded on the New York Stock Exchange.
About Universal Electronics
Universal Electronics Inc., based in Southern California, develops firmware and turnkey solutions as well as software 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 16 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 and other audio/visual accessories through its European headquarters in the Netherlands, and to distributors and retailers in Europe, Asia, Latin America, South Africa and Australia/NewZealand 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 continued success, delivery and market acceptance of the Kameleon and the other 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; 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.
SOURCE: Universal Electronics Inc.
Blanc & Otus
Erin Olsson, 415-856-5115