HUMAX USA TO DELIVER TIVO®-POWERED DVR AND DVD RECORDABLE PRODUCTS IN 2004
Details Product Specifications and Distribution Strategy; Signs on Good Guys and Tweeter
LAS VEGAS, NV, January 8, 2004 – Humax, an international leader of digital satellite set-top box manufacturing, today disclosed details of its plan to sell innovative DVRs and DVD recordable products powered by TiVo. ###
Humax has licensed TiVo-technology that will be incorporated into a full line
of digital video recorders and DVD recordable products. In the start of the second quarter of 2004, Humax will introduce two standalone TiVo Series 2® DVRs consisting of an entry-level 80-hour model and a step-up 250-hour model. Later in the third quarter, Humax plans to deliver two combination DVD recordable models integrated with TiVo’s best-of-breed service and robust features including home networking capability, progressive scan output and DV input.
“The DVD Recorder is quickly becoming one of the most sought after consumer electronics products,” says Humax Sales and Marketing VP Tony Goncalves. “By combining such a high growth product with the ease-of-use and control that is the hallmark of the TiVo services, Humax will set the standard for the category. These products need to be advanced yet easy-to-use for consumers to embrace them- and our DVD recordable products with TiVo will do just that.”
According to Goncalves, Humax plans to segment products according to channel of distribution. Models equipped with step-up features such as higher-recording capacity and enhanced functionality will be sold exclusively through an independent channel of specialized dealers. Entry level, more cost-efficient products will be marketed through national distribution in order to yield a broader consumer reach.
Humax has already received commitments from national specialty retailer Tweeter and West Coast electronics retailer Good Guys to sell the company’s digital video recorder products.
Tweeter Merchandise Manager Kari Seward says, “Tweeter is looking forward to a mutually beneficial relationship with Humax. Many of our customers are TiVo fans. We are pleased to be able to provide them with another solution for their DVR needs.”
Benny Tam, Good Guys Video Components Senior Buyer added, “We are looking forward to new technology and products from Humax and feel that Humax products will round out our assortment of the best DVR products in the market place.”
“Based on my past experiences working with these two retailers, they are perfect partners to work with on a launch,” Goncalves says of Good Guys and Tweeter. “Their sales staffs possess a wealth of knowledge including the ability to educate consumers on the benefits of technology, products and new innovative brands like Humax.”
Humax has also hired five regional independent sales rep firms located across the country that have begun to secure distribution among independent and national retailers. The company plans to announce additional sales rep firm, retailer and distribution details throughout the first quarter of 2004.
According to Goncalves, the DVR market segment is primed for explosive growth these next few years.
“The hard disk drive in CE products is here to stay, as is consumer’s desire to control content,” Goncalves says of the TiVo partnership. “The market is wide open for a new manufacturer that can drive innovation and cost. Humax’s dominant position in the set-top box industry and low cost manufacturing capabilities coupled with TiVo’s best-of-breed technology will allow for such innovation.”
“We’re very pleased that products powered by TiVo will serve as the lead products in Humax’s entry into the U.S. market,” said Jeff Klugman of TiVo. “Humax is a global CE manufacturer that has an international reputation of delivering innovative products. Humax is a committed TiVo partner that will be a driving force in our efforts to deploy the simplicity and control of the TiVo service in innovative new products that help consumers find, record and play a host of digital media.”
Humax USA will unveil its new products at the upcoming 2004 CES show in Las Vegas Nevada, Jan. 8-11. The company’s private suite is located in the Convention Center Hilton Hotel, North Tower Suites, room number 10-121. A private press reception cocktail party is scheduled for Friday, Jan. 9, 2004, from 4-7 PM.
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Founded in 1989, Humax Co. Ltd of Korea is one of the world's leading digital satellite set-top box manufacturers, exporting its products to more than 90 countries across the globe. Listed on the Korean stock exchange (KOSDAQ), the company’s international headquarters and R&D facility are based in Korea with offices in Dubai, Germany, India, Italy, Japan, the UK and the US. In 1997, the company opened a manufacturing facility in Northern Ireland that won a Queen's Award for Enterprise: International Trade in 2002. Further production facilities are planned in India and China. Humax recorded revenues of US $298 million in 2002 and has announced plans to increase this figure to $1 billion by 2006. Humax’s US headquarters are located in Santa Ana, CA. For additional information visit www.humaxusa.com or phone toll-free: 1-866-HUMAXUSA.
Founded in 1997 with the mission to dramatically improve consumers' television viewing experiences, TiVo (NASDAQ: TIVO) is the creator of television services for digital video recorders (DVRs). 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 1 million. TiVo is headquartered in San Jose, CA. Additional information can be found at www.tivo.com.