Partnership Enables Top Tier TV Manufacturer To Deliver Best-In-Class Audio to Key Global Markets
CALABASAS, Calif.-- DTS, Inc. (Nasdaq: DTSI) today announced that it has entered into a partnership with LG Electronics, Inc. to integrate DTS digital surround audio decoding technology into their digital televisions initially in Korea as well as their set-top DMP units in Europe and Australia. This exciting partnership teams LG, a leading consumer electronics company, with the leading audio technology provider for HD entertainment. Most importantly, it will further enhance the consumer entertainment experience by matching DTS' best-in-class audio technology with LG's high quality products.
"DTS is thrilled to partner with LG in these key markets," said Brian Towne, Executive Vice President and General Manager, DTS, Inc. "This alliance continues our efforts to deliver the best possible entertainment experience to a global audience."
In addition to being in LG televisions released in Korea, DTS technology will be incorporated in LG set-top DMP boxes in Europe and Australia. The integration of DTS technology in LG products is the latest milestone in the growth of DTS, a company that is quickly becoming a household name in the HD entertainment space. Recognition of DTS' expansion is evident by the growing popularity of its DTS-HD Master Audio technology across all media formats and its emergence into the PC space with DTS Premium Suite, a new and compelling suite of high performance audio technologies designed to further enhance the consumer entertainment experience. This momentum, coupled with its rapidly expanding footprint in TVs and DMPs, further solidifies DTS' position as a leading provider of high performance audio.
About DTS, INC.
DTS, Inc. (NASDAQ:DTSI) is a digital technology company dedicated to delivering the ultimate entertainment experience. DTS decoders are in virtually every major brand of multi-channel surround processors, and there are hundreds of millions of DTS-licensed consumer electronics products available worldwide. A pioneer in multi-channel audio, DTS technology is in home theatre, car audio, PC and gaming console products, as well as DVD players, televisions, digital media players, set-top boxes and surround music software. In addition, DTS is a mandatory audio format in the Blu-ray Disc standard, resulting in DTS technology being included in every device capable of playing Blu-ray discs. Founded in 1993, DTS' corporate headquarters are located in Calabasas, California with its licensing operations headquartered in Limerick, Ireland. DTS also has offices in Northern California, Washington, Canada, China, France, Hong Kong, Japan, South Korea, Taiwan and the United Kingdom. For further information, please visit www.dts.com. DTS and the DTS Symbol are registered trademarks of DTS, Inc, and NEURAL UPMIX and DTS-HD MASTER AUDIO SUITE are trademarks of DTS, Inc. All other trademarks are the properties of their respective owners. (c) 2010 DTS, Inc. All rights reserved.
About LG Electronics, Inc.
LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing more than 82,000 people working in over 115 operations around the world. With 2009 global sales of 55.5 trillion Korean Won (43.4 billion US Dollars), LG comprises of five business units - Home Entertainment, Mobile Communications, Home Appliance, Air Conditioning and Business Solutions. LG is one of the world's leading producers of flat panel TVs, audio and video products, mobile handsets, air conditioners and washing machines. LG has signed a long-term agreement to become both a Global Partner of Formula 1(tm) and a Technology Partner of Formula 1(tm). As part of this top-level association, LG acquires exclusive designations and marketing rights as the official consumer electronics, mobile phone and data processor of this global sporting event. For more information, please visit www.lg.com
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties, assumptions and other factors which, if they do not materialize or prove correct, could cause DTS' results to differ materially from historical results or those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words "planned," "expects," "believes," "strategy," "opportunity," "anticipates" and similar words. These statements may include, among others, plans, strategies and objectives of management for future operations; any statements regarding proposed new products, services or developments; any statements regarding future economic conditions or financial or operating performance; statements of belief and any statements of assumptions underlying any of the foregoing. The potential risks and uncertainties that could cause actual growth and results to differ materially include, but are not limited to, the transition to the next generation optical drives and consumer adoption of such technology, the rapidly changing and competitive nature of the digital audio, consumer electronics and entertainment markets, the Company's inclusion in or exclusion from governmental and industry standards, continued customer acceptance of the Company's technology, products, services and pricing, risks related to ownership and enforcement of intellectual property, the continued release and availability of entertainment content containing DTS audio soundtracks, success of the Company's research and development efforts, risks related to integrating acquisitions, greater than expected costs, the departure of key employees, the current financial crisis and global economic downturn, a loss of one or more of the Company's key customers or licensees, changes in domestic and international market and political conditions, and other risks and uncertainties more fully described in DTS' public filings with the Securities and Exchange Commission, available at www.sec.gov. DTS does not intend to update any forward-looking statement contained in this press release to reflect events or circumstances arising after the date hereof.
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