Delphi reaches new milestone in satellite radio receiver production
More than 13 million units sold since 2001
More than 10 OEM customers have chosen Delphi's leading Technology
LAS VEGAS, Jan. 3 /PRNewswire/ -- Delphi Corp. has just sold its 13-
millionth satellite radio receiver, setting a new milestone, Delphi
officials said here today at the 2007 International Consumer Electronics
Show.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020315/DEF002LOGO )
Delphi introduced satellite radio receivers to the OEM market in 2001.
As satellite radio service providers revolutionize the U.S. radio
landscape, Delphi has steadily ridden the wave by providing a variety of
original equipment and retail receivers. The satellite radio market now
boasts more than 13 million subscribers.
Delphi is the leader in the OE satellite radio market and produces
receivers for more than 10 new vehicle manufacturers. It also sells a
variety a variety of models as add-on accessories for multiple uses at home
and on the road. Among consumers, the Delphi name has become synonymous
with satellite radio because of its Delphi SKYFi, MyFi and ROADY family of
portable satellite radio receivers. In fact three out of four users listen
to satellite radio on Delphi hardware.
Delphi will be demonstrating its current portfolio at its CES exhibit
(North Hall, Las Vegas Convention Center, Exhibit (#5206).
"Satellite radio is changing the paradigm of radio in the U.S.," said
Ken Erickson, Delphi Electronics & Safety general director of the
Entertainment & Communications product business unit. "Satellite radio has
not only taken a long-time analog medium and made it digital, but it has
also opened a new world of offerings to customers by providing more than a
100 additional channels of programming."
Satellite radio is the radio medium that offers customers up to 170
channels of programming in addition to the traditional AM/FM radio
offerings in OEM applications. Satellite radio programming is beamed from
satellites and includes a very wide variety of music, talk, sports, news,
traffic, weather and entertainment coast-to-coast in the U.S. without
fading.
"Consumers now demand this level of flexibility and ownership, fueled
even more today by their ability to personalize their listening experience
through MP3 players," said Max Rogers, Delphi consumer electronics
executive. "Satellite radio's 170 channels of individual programming offers
the same type of tailored listening experience with no downloading
hassles."
Many of the offerings are commercial-free and categorized by
chronological time periods music genre and other defined segments that add
another dimension to satellite radio that is not offered by traditional
AM/FM radio.
"Satellite radio has all of the right features and benefits to keep
moving up the growth scale," said Erickson. "We are continuing to develop
technologies to make it more attractive. Several new car manufacturers have
already announced that they will include the satellite radio feature on all
of their vehicles."
In addition to adding loads of new programming to the vehicle, Delphi
has developed a digital data decoder that works in conjunction with the
Delphi satellite receiver to enable real-time traffic services in North
America. Vehicles with a Delphi satellite receiver equipped with this data
port and a navigation system can receive up-to-date traffic while playing
satellite radio. The system is also capable of providing real-time weather,
sports scores and stock updates.
Delphi's long history with satellite radio receivers includes
celebrating sales milestones for 2.5 millionth in May 2004 and 5 million
units in April 2005.
In 2001, Delphi helped launch satellite radio with the SKYFi. Delphi
went on to introduce the first satellite radio boom box, first home signal
repeater and even the first personal and portable satellite radio receiver,
the MyFi. Its most recent first, SKYFi3, is the first microSD compatible
MP3 satellite radio with pause-replay just hit the stores for the holiday
season.
Satellite radio is expanding to other locations around the world.
Delphi manufactures hardware for use by satellite radio subscribers in
Canada and has announced its intentions to help launch satellite radio in
Europe.
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 both
domestic satellite radio providers. Since beginning production in 1936,
Delphi has manufactured more than 260 million radio systems and introduced
an array of new technologies.
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.)
FORWARD LOOKING STATEMENT
This press release, as well as other statements made by Delphi, may
contain forward-looking statements 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 debtor-in- possession facility; the company's
ability to obtain court approval with respect to motions in the chapter 11
cases 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 plans, including the transformation plan described in the
Company's March 31, 2006 press release, and to do so in a timely manner;
the ability of the company to attract, motivate and/or retain key
executives and associates; the ability of the company to avoid or continue
to operate during a strike, or partial work stoppage or slow down by any of
its unionized employees; and the ability of the company to attract and
retain customers. Other risk factors are listed from time to time in the
company's United States Securities and Exchange Commission reports,
including, but not limited to the Annual Report on Form 10-K for the year
ended December 31, 2005. Delphi disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a result of new
information, future events and/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. Additionally, no
assurance can be given as to what values, if any, will be ascribed in the
bankruptcy proceedings to each of these constituencies. A plan of
reorganization could result in holders of Delphi's common stock receiving
no distribution on account of their interest and cancellation of their
interests. Under certain conditions specified in the Bankruptcy Code, a
plan of reorganization may be confirmed notwithstanding its rejection by an
impaired class of creditors or equity holders and notwithstanding the fact
that equity holders do not receive or retain property on account of their
equity interests under the plan. In light of the foregoing and as stated in
its October 8, 2005, press release announcing the filing of its Chapter 11
reorganization cases, the company considers the value of the common stock
to be highly speculative and cautions equity holders that the stock may
ultimately be determined to have no value. Accordingly, the company urges
that appropriate caution be exercised with respect to existing and future
investments in Delphi's common stock or other equity interests or any
claims relating to pre-petition liabilities.
SOURCE Delphi Corp.
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Related links:
http://www.delphi.com/media
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CONTACT:
Milton Beach of Delphi Corp.,
+1-765-451-0655, or Milton.beach@delphi.com; or Carrie Wright of
Delphi Product & Service Solutions, +1-248-267-8687, or
Carrie.wright@delphi.com
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