LONG BEACH, Calif. and SAN JOSE, Calif., June 12
/PRNewswire/ -- Pioneer Electronics (USA) Inc., a leader in the development and
manufacturing of home electronics technology, today announced its license
agreement with TiVo Inc, a creator of
television services for digital video recording. Pioneer becomes the latest
licensee of the TiVo digital video recorder (DVR) service. Pioneer is currently
working with TiVo in the development of products that will be available later
this year.
Pioneer has a long history of innovations, including the
world's first DVD recorder, laser disc player, combination DVD-Audio and SACD
DVD player, and digital sound projector. The company is recognized as a leading
manufacturer of home electronics products. Pioneer's agreement with TiVo is
consistent with Pioneer's global vision for the future.
"TiVo is truly a
pioneer in the DVR category. It gives me great pride to announce that Pioneer is
working with TiVo in the development of new products that will add features to
the standard DVR that consumers have not yet experienced," said Tom Haga,
president of the home entertainment division of Pioneer Electronics (USA) Inc.
"The combined expertise of Pioneer and TiVo will undoubtedly bring new
innovation that consumers desire."
"We are pleased to have a leader like
Pioneer as a licensee of the TiVo technology. Pioneer's long history of
developing revolutionary home electronics products offers exciting possibilities
for new TiVo-enabled products that we'll see in the marketplace very soon," said
Mike Ramsay, TiVo CEO. "Holiday shoppers are going to see TiVo products with
more exciting features than have ever been offered before."
About TiVo,
Inc.
Founded in 1997 with the mission to dramatically improve consumers'
television viewing experiences, TiVo is a
creator in television services for digital video recorders (DVR). TiVo's
leadership has defined and inspired the entire category, earning the company
patents for pioneering inventions associated with DVR software and hardware
design. TiVo was the first to deliver on the promise of consumer choice and
control over TV viewing, building a loyal and passionate subscriber base with
over 97% of customers surveyed recommending TiVo to a friend. This enthusiasm
has contributed to overwhelming growth over the past year, and the total
subscriber base exceeds 703,000. TiVo is headquartered in San Jose, CA.
Additional information is available at www.tivo.com .
About Pioneer
Pioneer Electronics (USA) Inc. is headquartered in Long Beach, Calif.,
and its U.S. Web address is www.pioneerelectronics.com . Its
parent company, Pioneer Corporation, is a leader in optical disc technology and
a preeminent manufacturer of high-performance audio, video, computer and cable
equipment for the home, car and business markets. The company focuses on four
core business domains including DVD, display technologies, Digital Network
Entertainment and components. Founded in 1938 in Tokyo, Pioneer Corporation
employs more than 34,000 people worldwide. Its shares are traded on the New York
Stock Exchange.
This release contains
certain forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements relate to, TiVo's business,
services, business development, strategy, customers or other factors that may
affect future earnings or financial results. Forward-looking statements
generally can be identified by the use of forward-looking terminology such as,
"believe," "expect," "may," "will," "intend," "estimate," "continue," or similar
expressions or the negative of those terms or expressions. Such statements
involve risks and uncertainties, which could cause actual results to vary
materially from those expressed in or indicated by the forward-looking
statements. Factors that may cause actual results to differ materially include
delays in development, competitive service offerings and lack of market
acceptance, as well as the "Factors That May Affect Future Operating Results"
and other risks detailed in our Annual Report on Form 10-K for the period ended
January 31, 2003, filed with the Securities and Exchange Commission. We caution
you not to place undue reliance on forward-looking statements, which reflect an
analysis only and speak only as of the date hereof. TiVo disclaims any
obligation to update these forward-looking statements.
TiVo is a
registered trademark of TiVo Inc. in the United States and other jurisdictions.
All other company or product names mentioned may be trademarks or registered
trademarks of the respective companies with which they are
associated.
Source: Yahoo.com
