Universal Electronics Inc. Prepares Consumers for Simple Digital-to-Analog Conversion
UEI Collaborates with Major Set-top Box Makers and Cable Service Provider to Develop Universal Remote with Maximum Compatibility and Ease of Use
CYPRESS, Calif.--(BUSINESS WIRE)--July 31, 2008--Universal Electronics Inc. (UEI) (NASDAQ:UEIC) today announced a universal remote control that aims to simplify the digital to analog conversion for the millions of Americans making the switch in early 2009. The Delta universal remote is slated to ship to major set-top manufacturers for deployment with a major cable operator in the fall of 2008 in anticipation of the upcoming digital broadcast switch.
Delta is a universal two-device remote designed to be preprogrammed to a digital-to-analog converter (DTA) and programmed by the user to operate their television. The remote includes comprehensive infrared (IR) coverage for the most popular TV brands sold in North America providing the utmost compatibility in the home. Delta features UEI's XMP(TM) protocol; an efficient and reliable IR communication protocol with a unique code registry that avoids conflict with other devices in the home.
The National Association of Broadcasters (NAB) has estimated that there are 69 million analog television sets that will be potentially impacted by the digital transition. These sets will need some type of converter box to receive digital television signals after February 17, 2009. Universal Electronics recognizes the importance these converter boxes will play in the home universal remote control market in the next 12-18 months and have developed a control solution that helps make the transition as smooth as possible.
"The digital transition in cable broadcasting is poised to accelerate as the mandatory cutover time nears. Many viewers need a device to keep their analog TV's from going obsolete," said Paul Arling, chairman and chief executive officer of UEI. "The major cable systems are all looking at DTA converters to solve this problem and they need a reliable and highly compatible remote to control the converter. Delta provides a cost effective and reliable way to address their needs."
About Universal Electronics
Founded in 1986, Universal Electronics Inc. (UEI) is the global leader in wireless control technology for the connected home. UEI designs, develops, and delivers innovative solutions that enable consumers to control entertainment devices, digital media, and home systems. The company's broad portfolio of patented technologies and database of infrared control software have been adopted by many Fortune 500 companies in the consumer electronics, subscription broadcast, and computing industries. UEI sells and licenses wireless control products through distributors and retailers under the One For All(R) brand name. UEI also delivers complete home control solutions in the professional custom installation market under the brand name Nevo(R), as well as software solutions for digital media control and enjoyment in the consumer and OEM markets under the brand SimpleCenter(TM). For more information visit 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 being accepted by the companies customers and the end users; the continued importance of the Company's database of codes and other technologies; the continued growth in the markets identified in this release to occur as anticipated by management; 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.
CONTACT: Blanc & Otus for UEI
Erin Olsson, 415-856-5115 (press only)
SOURCE: Universal Electronics Inc.