Digital Video Systems' Korea Subsidiary Makes First Shipments Under Visteon Purchase Order
July 01 2004 - 8:30AM
PR Newswire (US)
Digital Video Systems' Korea Subsidiary Makes First Shipments Under
Visteon Purchase Order PALO ALTO, Calif., July 1
/PRNewswire-FirstCall/ -- Digital Video Systems (NASDAQ:DVID)
announced that its subsidiary in South Korea has shipped automotive
DVD players to Visteon Corporation (NYSE:VC), under the purchase
contract announced in January. Visteon is a leading automotive
supplier with annual revenues in excess of $17 billion. Visteon is
purchasing a versatile portable DVD player that DVS has designed to
fit into Visteon's docking station for use in vehicles. The Visteon
system is marketed nationally in the United States under the trade
name of "Dockable Family Entertainment System(TM)." The player
blends into a vehicle's interior and can move easily from
in-vehicle use to laptop or in- home use. The DVS designed
automotive grade portable DVD player weighs only 2.5 lbs, gives
consumers a large 10-inch viewing screen, remote control, and
infrared headphones. Visteon's docking unit and the compatible,
portable DVD player are designed as a modular unit. The player
simply locks into the nearly flush mounted docking unit. Front seat
occupants have the opportunity to listen to the radio or CD of
their choice, while rear seat passengers enjoy video and other
entertainment. When docked, the player uses the vehicle's power
supply and audio system to operate and charge its batteries. The
unit can be removed and will play for approximately three hours on
its battery power. Because the system is modular consumers can
install docking units in several vehicles so that one player can be
easily transferred from one vehicle to another. The system package
includes accessories like infrared headphones and a remote control.
Optional equipment includes a carrying case, battery charger/AC
adapter and even a bass booster for enhanced sound. The portability
of Visteon's aftermarket system adds a measure of security and
accessibility at home or on the road. Visteon's Dockable Family
Entertainment System is a low profile, clamshell, laptop-type
configuration that plays DVDs, CDs, and CDs containing MP3 and WMA
(Windows Media Audio) files. Auxiliary jacks on the player accept
input from other devices, such as game units or camcorders. The
Visteon Dockable Family Entertainment System is currently available
through car dealers and selected independent automotive accessory
distributors. DVS Chairman and CEO Thomas A. Spanier commented, "We
are excited that we have reached the purchase order stage and made
initial deliveries on this proprietary product. We won this
contract in head-to-head competition against top Japanese and
Korean name brands, with our rapid engineering turnaround, high
quality and competitive pricing. This product incorporates our
proprietary technologies in vibration and shock resistance and
temperature range tolerance, as well as the ISO/TS 16949:2002
certification that our quality management system has earned. The
new Dockable Family Entertainment System(TM) is the 'latest and
greatest' of several automotive products which DVS is now shipping.
Anybody planning a long car vacation with their kids this summer
ought to think twice about pulling out of the driveway without a
DVS designed Visteon product in the family SUV or van." About
Visteon Corporation Visteon Corporation is a leading full-service
supplier that delivers consumer-driven technology solutions to
automotive manufacturers worldwide and through multiple channels
within the global automotive aftermarket. Visteon has approximately
72,000 employees and a global delivery system of more than 200
technical, manufacturing, sales and service facilities located in
25 countries. For more information about Visteon, visit the
company's web site at http://www.visteon.com/. About Digital Video
Systems, Inc. Established in 1992, DVS is a publicly held company
specializing in the development and application of digital video
technologies enabling the convergence of data, digital audio,
digital video and high-end graphics. DVS is headquartered in Palo
Alto, California, with subsidiaries and manufacturing facilities in
South Korea, China and India. Additional information may be
obtained at http://www.dvsystems.com/. Safe Harbor Statement under
the Private Securities Litigation Reform Act of 1995: Any
statements made in this release that are not historical facts
contain forward-looking information that involves risks and
uncertainties. These forward-looking statements include, but are
not limited to, statements regarding DVS's products and their
features, development efforts and strategic relationships with
other companies. Important factors that may cause actual results to
differ include, but are not limited to, the timely availability of
components, sufficiency of working capital, the impact of
competitive products and services, the company's ability to manage
growth and acquisitions of technology or businesses, risks
attendant to strategic agreements involving other companies, the
effect of economic and business conditions, and other risks
detailed from time to time in the company's filings with the
Securities and Exchange Commission. Digital Video Systems, Inc.
assumes no obligation to update these forward-looking statements,
and does not intend to do so. For further information please
contact Larissa Licea, Digital Video Systems, Inc.,
+1-650-323-8108; or Sean Collins of CCG, +1-818-789-0100, for
Digital Video Systems, Inc. DATASOURCE: Digital Video Systems, Inc.
CONTACT: Larissa Licea of Digital Video Systems, Inc.,
+1-650-323-8108; or Sean Collins of CCG, +1-818-789-0100, for
Digital Video Systems, Inc. Web site: http://www.visteon.com/ Web
site: http://www.dvsystems.com/
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