LG Electronics and SRS Labs Enter Into a New Multi-Year License Agreement
- SRS Labs signs new agreement with LG Electronics to license SRS audio enhancement technologies for use in manufacturer's broad range of TV and monitor products
- LG Electronics will continue licensed usage of SRS TruSurround XT(R) and SRS WOW(R) patented technologies through 2010
SANTA ANA, Calif., Nov. 7 /PRNewswire-FirstCall/ -- SRS Labs, Inc. (Nasdaq: SRSL), a leading provider of surround sound, audio enhancement and voice processing technologies, announced today that Korean-based LG Electronics, one of the premier television manufacturers in the world, has chosen SRS Labs as their non-exclusive audio enhancement provider.
"This new agreement with LG confirms a continued growth opportunity for SRS technologies in the HDTV market," said Tom Yuen, Chairman and CEO of SRS Labs. "The fact that they have chosen the long term use of SRS IP is a testament to the power of our technology and ability to collaborate with our partners to engineer exceptional audio experience for TVs."
The new licensing deal with LG Electronics, a long time licensee of SRS Labs, is for use of SRS' TruSurround XT and SRS WOW audio technologies across their entire lines of televisions and monitors through the year 2010.
While SRS Labs has multiple audio technologies for set-makers to consider, the two leading SRS audio technologies most often licensed for use in televisions are SRS TruSurround XT virtual surround sound and SRS WOW audio and bass enhancement solutions.
LG Electronics selected SRS Labs as their audio partner of choice because of the unique and demonstrable features SRS' patented audio technologies provide to their specialized line of high-end TVs.
SRS TruSurround XT is the most widely implemented patented virtual surround sound technology on the market. It processes multichannel content to create a virtual surround sound experience with added bass and dialog enhancement. Consumers feel as if "phantom" speakers appear to extend all around them, producing an amazing surround sound effect, without the clutter of extra wires or speakers placed around the room. When receiving mono or stereo audio content, TruSurround XT creates an expansive three dimensional sound field for a truly immersive audio experience.
SRS WOW is a patented audio enhancement technology that significantly improves audio performance. It expands the size of the perceived audio image, creating a substantially larger "sweet spot" and incorporates psychoacoustic bass enhancement techniques to enhance low frequencies and their harmonics producing a deeper and richer bass experience. SRS WOW also retrieves the ambient information of audio that is typically lost during the recording and playback process so consumers experience an immersive sound field with restored clarity.
As flat panel TVs continue to get thinner and incorporate smaller speakers, the importance of quality audio enhancement becomes more critical in an effort to maximize performance from built-in speakers. SRS Labs works closely with its partners, such as LG Electronics, to optimize products for the best possible audio performance
DisplaySearch reported that just over 58 million flat panel TVs shipped worldwide in 2006. Of those, 38 percent, or 22 million, units featured SRS audio technology, based on royalty revenue reports. The category is expected to increase by 47.6 percent in 2007, according to DisplaySearch, who is projecting 85.6 million units in worldwide sales. For the first three quarters 2007, SRS Labs experienced a 42.1 percent increase in units sold featuring SRS IP over same period 2006. DisplaySearch is also anticipating another 27.6 percent increase in worldwide sales for 2008,
predicting shipments of 109.2 million units.
With global FPTV units predicted to reach 110 million by 2008 it is clear that this market provides terrific growth opportunity for SRS technologies. The world's leading TV manufacturers identify SRS Labs as their audio partner of choice. Among the top nine FPTV manufacturers reported by DisplaySearch, seven: Samsung; Sony; Sharp; LG; Panasonic; Hitachi; and Pioneer, feature at least one SRS audio technology to provide improved multi-dimensional sound enhancement.
About SRS Labs, Inc.
SRS Labs is a leader in audio signal processing for consumer electronics. Founded in 1993, SRS Labs holds 129 worldwide patents, with another 34 pending, for advanced audio, voice and surround sound technologies that optimize and improve the listening experience through techniques based on research into the human auditory system. Through partnerships with leading global manufacturers and semiconductor and
software partners, over one billion products have shipped worldwide utilizing SRS audio technologies, primarily from one of three main technology families, SRS WOW(R), SRS TruSurround(R) and SRS Circle Surround(R). SRS Labs audio and voice processing provides the best possible sound from all content and in every environment including HDTVs, mobile phones, portable media devices, A/V components, PCs and automotive entertainment. And with 38 percent of the 58 million flat panel televisions shipped in 2006 featuring SRS audio processing, SRS Labs is the de-facto
standard of HDTV audio processing. Additionally, SRS Labs surround sound solutions provide the professional broadcast and recording industries with high-performance production, back-haul, storage, and transmission capability. SRS Labs supports manufacturers worldwide with offices in the US, China, Europe, Japan, Korea and Taiwan. For more information, visit http://www.srslabs.com
- LG Electronics will continue licensed usage of SRS TruSurround XT(R) and SRS WOW(R) patented technologies through 2010
SANTA ANA, Calif., Nov. 7 /PRNewswire-FirstCall/ -- SRS Labs, Inc. (Nasdaq: SRSL), a leading provider of surround sound, audio enhancement and voice processing technologies, announced today that Korean-based LG Electronics, one of the premier television manufacturers in the world, has chosen SRS Labs as their non-exclusive audio enhancement provider.
"This new agreement with LG confirms a continued growth opportunity for SRS technologies in the HDTV market," said Tom Yuen, Chairman and CEO of SRS Labs. "The fact that they have chosen the long term use of SRS IP is a testament to the power of our technology and ability to collaborate with our partners to engineer exceptional audio experience for TVs."
The new licensing deal with LG Electronics, a long time licensee of SRS Labs, is for use of SRS' TruSurround XT and SRS WOW audio technologies across their entire lines of televisions and monitors through the year 2010.
While SRS Labs has multiple audio technologies for set-makers to consider, the two leading SRS audio technologies most often licensed for use in televisions are SRS TruSurround XT virtual surround sound and SRS WOW audio and bass enhancement solutions.
LG Electronics selected SRS Labs as their audio partner of choice because of the unique and demonstrable features SRS' patented audio technologies provide to their specialized line of high-end TVs.
SRS TruSurround XT is the most widely implemented patented virtual surround sound technology on the market. It processes multichannel content to create a virtual surround sound experience with added bass and dialog enhancement. Consumers feel as if "phantom" speakers appear to extend all around them, producing an amazing surround sound effect, without the clutter of extra wires or speakers placed around the room. When receiving mono or stereo audio content, TruSurround XT creates an expansive three dimensional sound field for a truly immersive audio experience.
SRS WOW is a patented audio enhancement technology that significantly improves audio performance. It expands the size of the perceived audio image, creating a substantially larger "sweet spot" and incorporates psychoacoustic bass enhancement techniques to enhance low frequencies and their harmonics producing a deeper and richer bass experience. SRS WOW also retrieves the ambient information of audio that is typically lost during the recording and playback process so consumers experience an immersive sound field with restored clarity.
As flat panel TVs continue to get thinner and incorporate smaller speakers, the importance of quality audio enhancement becomes more critical in an effort to maximize performance from built-in speakers. SRS Labs works closely with its partners, such as LG Electronics, to optimize products for the best possible audio performance
DisplaySearch reported that just over 58 million flat panel TVs shipped worldwide in 2006. Of those, 38 percent, or 22 million, units featured SRS audio technology, based on royalty revenue reports. The category is expected to increase by 47.6 percent in 2007, according to DisplaySearch, who is projecting 85.6 million units in worldwide sales. For the first three quarters 2007, SRS Labs experienced a 42.1 percent increase in units sold featuring SRS IP over same period 2006. DisplaySearch is also anticipating another 27.6 percent increase in worldwide sales for 2008,
predicting shipments of 109.2 million units.
With global FPTV units predicted to reach 110 million by 2008 it is clear that this market provides terrific growth opportunity for SRS technologies. The world's leading TV manufacturers identify SRS Labs as their audio partner of choice. Among the top nine FPTV manufacturers reported by DisplaySearch, seven: Samsung; Sony; Sharp; LG; Panasonic; Hitachi; and Pioneer, feature at least one SRS audio technology to provide improved multi-dimensional sound enhancement.
About SRS Labs, Inc.
SRS Labs is a leader in audio signal processing for consumer electronics. Founded in 1993, SRS Labs holds 129 worldwide patents, with another 34 pending, for advanced audio, voice and surround sound technologies that optimize and improve the listening experience through techniques based on research into the human auditory system. Through partnerships with leading global manufacturers and semiconductor and
software partners, over one billion products have shipped worldwide utilizing SRS audio technologies, primarily from one of three main technology families, SRS WOW(R), SRS TruSurround(R) and SRS Circle Surround(R). SRS Labs audio and voice processing provides the best possible sound from all content and in every environment including HDTVs, mobile phones, portable media devices, A/V components, PCs and automotive entertainment. And with 38 percent of the 58 million flat panel televisions shipped in 2006 featuring SRS audio processing, SRS Labs is the de-facto
standard of HDTV audio processing. Additionally, SRS Labs surround sound solutions provide the professional broadcast and recording industries with high-performance production, back-haul, storage, and transmission capability. SRS Labs supports manufacturers worldwide with offices in the US, China, Europe, Japan, Korea and Taiwan. For more information, visit http://www.srslabs.com
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