HAUPPAUGE, N.Y., and LAS VEGAS, Jan. 7 /PRNewswire-FirstCall/ -- Audiovox
Corporation (Nasdaq: VOXX) is expanding its already successful flat panel TV
line into the large screen arena with the introduction of its first 56-inch,
rear-projection flat panel model. Tom Malone, senior VP, Sales, of Audiovox
Electronics Corp., the Company's wholly-owned subsidiary, made the
announcement.
Stated Malone, "Our success in the flat panel TV market is directly
related to our success in the mobile video market. Our number one position
there has allowed us to cultivate significant manufacturing partners and make
inroads in the home flat panel TV market. We started with under cabinet TVs
that mimicked the drop down concept of our mobile overhead systems. We then
moved into in-home flat panel and our current line includes models ranging
from 7.8 inches to 37 inches and everything in between, some with built-in DVD
capability. Our latest entry in that market is our first rear-projection, flat
panel TV with DLP technology."
Why DLP? "We believe that the exceptional color accuracy, low power
consumption and high contrast and brightness associated with DLP gives this
format a potentially high sales profile," said Malone.
He further indicated that studies show DLP projection has become a
favorite with home theater enthusiasts. They deliver very good black-level
performance, require no maintenance to preserve sharpness, many systems are
computer-capable and they are thin and light compared to CRTs.
Malone notes that although Plasma and LCD flat panel televisions seem to
be all the rage these days, reflected by the growing numbers of consumers
reaching into their pockets to buy the stylish sets, they are still out of
reach of most average household budgets and with DLP getting more affordable
it is also gaining in popularity among consumers.
"As a result, rear-projection TV, with its lower pricing but high
performance, is attracting lots of attention to retailers and their
customers," says Malone. "Our new 56 inch model should do well in this market
with its 16:9 aspect ratio, integrated HDTV tuner & NTSC Tuner, high
resolution display, super-wide viewing angle, POP function (Picture-Outside-
Picture), PIP function (Picture-In-Picture), PIP with multi-screen function
(easy view from 4 to 12 different screens at the same time), convenient front
panel A/V connectors, 12 digital & analog inputs, optional base stand, remote
control and 56-inch digital light processing TV. And the best feature may be
its price at MSRP of $3,295."
In addition to the rear projection system, Audiovox is introducing a 37-
inch (16:9) HDTV-ready monitor, (model FPE3705), that features SRS surround
sound and 3:2 and 2:2 pull-down with motion compensation, progressive scan DVI
(Digital Visual Interface) with High Definition Compatible Digital(R)
(HDCD(R)), which is a patented encode/decode process for delivering the full
richness and detail of the original microphone feed on Compact Discs and DVD-
Audio. HDCD-encoded CDs sound better because they are encoded with 20 bits of
real musical information, as compared with 16 bits for all other CDs. With
HDCD, the listener gets the body, depth, and emotion of the original
performance not a flat, digital imitation. MSRP: $2,800. (R)HDCD is a
registered trademark of Microsoft Corporation.
"These state-of-the-art products reinforce Audiovox's commitment to the
video business and complement the ever-growing Home Theater in a Box market.
Audiovox is committed to growing market share in the home category and to that
end, our plans include placing our flat panel programs in a variety of well-
known national chains," Malone concluded.
About Audiovox
Audiovox Corporation, through its wholly-owned subsidiary Audiovox
Electronics Corporation (AEC) is a recognized leader in the marketing of
automotive entertainment, vehicle security and consumer electronics products.
The company is number one in mobile video and places in the top ten of almost
every category that it sells. Among the products marketed by AEC are mobile
video systems, portable DVD players, flat-panel TV's, auto sound systems
including satellite radio, vehicle security, and consumer electronics products
such as extended range two-way radios, multi media products like MP 3 players,
and home and portable stereos. The company markets its products through an
extensive distribution network that includes power retailers, 12-volt
specialists, mass merchandisers and an OE sales group. The company markets
products under the Audiovox, Jensen, Acoustic Research, Advent, Code Alarm and
Prestige brands. For additional information, visit our web site at
http://www.audiovox.com .
Safe-Harbor Language
Except for historical information contained herein, statements made in
this release that would constitute forward-looking statements may involve
certain risks and uncertainties. All forward-looking statements made in this
release are based on currently available information and the Company assumes
no responsibility to update any such forward-looking statement. The following
factors, among others, may cause actual results to differ materially from the
results suggested in the forward-looking statements. The factors include, but
are not limited to, risks that may result from changes in the Company's
business operations; our ability to keep pace with technological advances;
significant competition in the mobile and consumer electronics businesses as
well as the wireless business; our relationships with key suppliers and
customers; quality and consumer acceptance of newly introduced products;
market volatility; non-availability of product; excess inventory; price and
product competition; new product introductions; the possibility that the
review of our prior filings by the SEC may result in changes to our financial
statements; and the possibility that stockholders or regulatory authorities
may initiate proceedings against Audiovox and/or our officers and directors as
a result of any restatements. Risk factors associated with our business,
including some of the facts set forth herein, are detailed in the Company's
Form 10-K/A for the fiscal year ended November 30, 2003 and Form 10-Q for the
fiscal 2004 third quarter ended August 31, 2004.
Media Contact for Product Inquiries:
Mel Clapman
Clapman Public Relations
(718) 474-2528 or mclapman@mindspring.com
Public and Investor Relations Contact:
Glenn Wiener
GW Communications
(212) 786-6011 or gwiener@GWCco.com
SOURCE Audiovox Corporation
 back to top
Related links:
http://www.audiovox.com
CONTACT:
Product Inquiries - Mel Clapman of Clapman
Public Relations, +1-718-474-2528, mclapman@mindspring.com;
Public and Investor Relations - Glenn Wiener of GW
Communications, +1-212-786-6011, gwiener@GWCco.com, both for
Audiovox Corporation
|
