SKYFi3, the Newest and Most Advanced Plug-and-Play Design in Satellite
Radio Today, is Authorized for Retail Sale
TROY, Mich., Oct. 30 /PRNewswire/ -- Delphi announced today it has
received the final necessary approvals from the Federal Communications
Commission (FCC) authorizing the sale of its latest XM satellite radio
receiver, the SKYFi3, to the public. The FCC is an independent government
agency charged with regulating interstate and international communications
by radio, television, wire, satellite and cable.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020315/DEF002LOGO )
"Delphi officially introduced SKYFi3 to the market last week and early
demand for the product has been tremendous," said Francisco (Frank)
Ordonez, president, Delphi Product & Service Solutions. "With its
impressive list of features, the SKYFi3 sets the new standard for
plug-and-play systems."
As the latest successor in the best-selling SKYFi family, the SKYFi3 is
65% smaller, yet maintains nearly every benefit of the previous generation
product. Optimized for the vehicle, the SKYFi3 receiver comes with a car
dock included. SKYFi3 also offers an optimum balance of compact size,
screen readability and portability outside the vehicle.
In addition, the SKYFi3 can also store and manage up to 10 hours of XM
programming through non-removable internal memory, as well as an unlimited
number of MP3 files through optional and removable microSD cards. The
SKYFi3 also has the largest 9 line display in its class and mounts
vertically or horizontally using a low-profile car dock.
The Delphi SKYFi3 will be available for this year's holiday shopping at
select retailers with an expected retail price of $229. Additionally, some
retailers will be offering SKYFi3 purchasers a free SKYFi3 Live Wearable
Kit (SA10252), featuring integrated headphones with built-in Antenna (a $49
value), so they can listen to live XM on-the-go. For more information or to
pre-order the Delphi SKYFi3, visit http://skyfi3.delphi.com . You can also
see the new SKYFi3 at this year's SEMA Show, being held at the Las Vegas
Convention Center from October 31 - November 3, 2006.
For more information about Delphi Corporation (Pink Sheets: DPHIQ),
visit http://www.delphi.com .
FORWARD-LOOKING STATEMENT
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 debtor-in-possession
("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 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,
2004 and its most recent quarterly report on Form 10-Q for the quarter
ended September 30, 2005 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 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. As described in the Company's
public statements in response to the request submitted to the United States
Trustee for the appointment of a statutory equity committee, holders of
Delphi's common stock and other equity interests (such as options) should
assume that they will not receive value as part of a plan of
reorganization. In addition, 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 Corporation
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Related links:
http://www.delphi.com/media
http://skyfi3.delphi.com
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20020315/DEF002LOGO
PRN Photo Desk, photodesk@prnewswire.com
http://www.prnewswire.com/comp/076666.html/
CONTACT:
Brian Metcalf, +1-305-576-1171 x11, Matt
Shumate, +1-305-576-1171 x15, or Carrie Wright, +1-248-267-8687,
all of Delphi Corporation
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