LAS VEGAS, Jan. 2 /PRNewswire/ -- Delphi Corp. has begun producing
satellite radios for the Canadian market, company officials said here today at
the 2006 International Consumer Electronics Show.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020315/DEF002LOGO )
In Canada, Delphi now supplies receivers to automakers that offer
satellite radio as a vehicle option, as well as through retail channels.
The Canadian Radio-Television and Telecommunications Commission (CRTC)
approved licenses for satellite radio in June, opening up a new market for
this rapidly growing form of entertainment.
Three satellite services have been approved by the CRTC, and two of the
services began broadcasting in December. Delphi currently manufactures
hardware that supports both services that are broadcasting.
Satellite radio has been available for four years in the United States and
has grown to more than 8 million subscribers. Satellite radio, or
"subscription radio" as its called in Canada, offers hundreds of channels of
digital-quality, crystal-clear music and programming for a monthly fee.
Delphi has produced more than 8.5 million satellite receivers since it started
producing receivers in 2001.
In the last decade alone, Delphi has pioneered or led the introduction of
multi-speaker, multi-amp premium audio, CD playbacks, DVD rear seat video, MP3
playbacks, advanced TV reception systems and satellite radio into the market.
Delphi supplies both OEM and retail hardware for XM Satellite Radio, and OEM
hardware for SIRIUS Satellite. Since beginning production in 1936, Delphi has
manufactured more than 270 million radio systems.
For more information about Delphi and its operating subsidiaries, visit
Delphi's Virtual Press Room at http://www.delphi.com/media .
Factors that could cause actual results to differ materially from those in
the forward-looking statements in this press release include demand for XM
Satellite Radio's service, the Company's dependence on technology and third
party vendors, its potential need for additional financing, as well as other
risks described in XM Satellite Radio Holdings Inc.'s Form 10-K filed with the
Securities and Exchange Commission on 3-4-05. Copies of the filing are
available upon request from XM Radio's Investor Relations Department.
Note: Satellite reception depends on the ability of the antenna to receive
a signal. The signal may not be available in buildings or if obstructed (e.g.
by mountains, trees, bridges, etc.)
This press release as well as other statements made by Delphi may contain
forward-looking statements within the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995 that reflect, when made, the
Company's current views with respect to current events and financial
performance. Such forward-looking statements are and will be, as the case may
be, subject to many risks, uncertainties and factors relating to the Company's
operations and business environment which may cause the actual results of the
Company to be materially different from any future results, express or
implied, by such forward-looking statements. Factors that could cause actual
results to differ materially from these forward-looking statements include,
but are not limited to, the following: the ability of the Company to continue
as a going concern; the ability of the Company to operate pursuant to the
terms of the DIP facility; the Company's ability to obtain court approval with
respect to motions in the chapter 11 proceeding prosecuted by it from time to
time; the ability of the Company to develop, prosecute, confirm and consummate
one or more plans of reorganization with respect to the chapter 11 cases;
risks associated with third parties seeking and obtaining court approval to
terminate or shorten the exclusivity period for the Company to propose and
confirm one or more plans of reorganization, for the appointment of a chapter
11 trustee or to convert the cases to chapter 7 cases; the ability of the
Company to obtain and maintain normal terms with vendors and service
providers; the Company's ability to maintain contracts that are critical to
its operations; the potential adverse impact of the chapter 11 cases on the
Company's liquidity or results of operations; the ability of the Company to
fund and execute its business plan; the ability of the Company to attract,
motivate and/or retain key executives and associates; and the ability of the
Company to attract and retain customers. Other risk factors are listed from
time to time in the Company's SEC reports, including, but not limited to the
annual report on Form 10-K for the year ended December 31, 2004 and its most
recent quarterly report on Form 10-Q and current reports on Form 8-K Delphi
disclaims any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise.
Similarly, these and other factors, including the terms of any
reorganization plan ultimately confirmed, can affect the value of the
Company's various pre-petition liabilities, common stock and/or other equity
securities. No assurance can be given as to what values, if any, will be
ascribed in the bankruptcy proceedings to each of these constituencies.
Accordingly, the Company urges that the appropriate caution be exercised with
respect to existing and future investments in any of these liabilities and/or
securities.
SOURCE Delphi Corporation
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Related links:
http://www.delphi.com/media
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/20020315/DEF002LOGO
PRN Photo Desk, photodesk@prnewswire.com
Company News On-Call:
http://www.prnewswire.com/comp/076666.html
CONTACT:
Milton Beach of Delphi Corp.,
+1-765-451-0655, Milton.beach@delphi.com
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