04/16/2019 | Press release | Distributed by Public on 04/16/2019 05:01
LG developing next generation of automotive broadcast radio technology
SAN JOSE, Calif.--(BUSINESS WIRE)-- Xperi Corporation (Nasdaq: XPER) ('Xperi') and LG Electronics are pleased to announce the development and integration of DTS® Connected Radio™ technology into automobiles sold around the world. The first implementation will arrive at dealerships in 2020 with a major global car brand, to be announced at a later date. Xperi will deliver to LG the DTS Connected Radioplatform, which enables an engaging in-car radio experience, combining over-the-air radio with IP delivered content.
'LG Electronics has been a longtime partner, and we are excited to work closely with them in developing a new generation of radio solutions,' said Jeff Jury, general manager, automotive at Xperi. 'We continue to build on our longstanding relationships with car makers and broadcasters to create advanced radio solutions that deliver the best possible experience for people everywhere. The DTS Connected Radio system will be the first global system to enable car makers to create a common radio experience across different analog and digital broadcast systems deployed regionally.'
Utilizing an IP connection installed in a vehicle, DTS Connected Radio delivers an innovative analog and digital (DAB and HD Radio) FM experience by pairing broadcast programming with IP-delivered content. DTS Connected Radio aggregates metadata, such as on-air radio program and talent information, artist and song information, station contact information and more, directly from broadcasters around the world to deliver an enhanced in-vehicle radio experience.
Further information about the partnership will be announced at a later date.
About LG Electronics Vehicle Components Company
LG Electronics Vehicle Components Company focuses on commercializing autonomous and environmentally responsible automotive components and core solutions based on LG's proprietary technologies. Its Smart Solutions business includes a diverse lineup of offerings such as infotainment systems (audio video, audio video navigation, etc.), advanced driver assistant system, connectivity and other intelligent products. Green Solutions focuses on electronic powertrains (motor/drive unit/inverter/converter), battery packs, vehicle thermal systems and lighting solutions (head/rear/interior lamp). For more on LG's Vehicle Components, visit www.LG.com.
About Xperi Corporation
Xperi Corporation (Nasdaq: XPER) and its brands, DTS, FotoNation, HD Radio, Invensas and Tessera, are dedicated to creating innovative technology solutions that enable extraordinary experiences for people around the world. Xperi's solutions are licensed by hundreds of leading global partners and have shipped in billions of products in areas including premium audio, automotive, broadcast, computational imaging, computer vision, mobile computing and communications, memory, data storage, and 3D semiconductor interconnect and packaging. For more information, please call 408-321-6000 or visit www.xperi.com.
DTS, FotoNation, HD Radio, Invensas, Xperi and their respective logos are trademarks or registered trademarks of affiliated companies of Xperi Corporation in the United States and other countries. All other company, brand and product names may be trademarks or registered trademarks of their respective companies.
Safe Harbor Statement
This press release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties that could cause actual results to differ significantly from those projected, particularly with respect to the development and expected launch of the DTS Connected Radio platform. Material factors that may cause results to differ from the statements made include the plans or operations relating to the businesses of Xperi; market or industry conditions; changes in patent laws, regulation or enforcement, or other factors that might affect Xperi's ability to protect or realize the value of its intellectual property; the expiration of license agreements and the cessation of related royalty income; the failure, inability or refusal of licensees to pay royalties; initiation, delays, setbacks or losses relating to Xperi's intellectual property or intellectual property litigations, or invalidation or limitation of key patents; fluctuations in operating results due to the timing of new license agreements and royalties, or due to legal costs; the risk of a decline in demand for semiconductors and products utilizing our audio and imaging technologies; failure by the industry to use technologies covered by Xperi's patents; the expiration of patents; Xperi's ability to successfully complete and integrate acquisitions of businesses; the risk of loss of, or decreases in production orders from, customers of acquired businesses; financial and regulatory risks associated with the international nature of Xperi's businesses; failure of Xperi's products to achieve technological feasibility or profitability; failure to successfully commercialize Xperi's products; changes in demand for the products of Xperi's customers; limited opportunities to license technologies due to high concentration in applicable markets for such technologies; the impact of competing technologies on the demand for Xperi's technologies; pricing trends, including Xperi's ability to achieve economies of scale; and other developments in the markets in which Xperi operates, as well as management's response to any of the aforementioned factors. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this release.
The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included herein and elsewhere, including the Risk Factors included in Xperi's recent reports on Form 10-K and Form 10-Q and other documents of Xperi on file with the Securities and Exchange Commission (the 'SEC'). Xperi's SEC filings are available publicly on the SEC's website at www.sec.gov. Any forward-looking statements made or incorporated by reference herein are qualified in their entirety by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by Xperi will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, Xperi or its business or operations. Except to the extent required by applicable law, Xperi undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
SOURCE: XPERI CORPORATION
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Source: Xperi Corporation