Vimicro Announces Strategic Development Agreement with China Satellite Mobile Broadcasting Corporation for CMMB Mobile TV Standard
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Mon, 09 Nov 2009 13:31:13 GMT |
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Vimicro International Corporation |
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BEIJING, Nov. 9 /PRNewswire-Asia-FirstCall/ -- Vimicro International
Corporation (Nasdaq: VIMC) ("Vimicro"), a leading multimedia semiconductor and
solution provider, today announced a strategic development partnership with
China Satellite Mobile Broadcasting Corporation ("CSMBC") to advance the
development of mobile TV under the China Mobile Multimedia Broadcasting
("CMMB") standard. CSMBC is a wholly-owned subsidiary of The State
Administration of Radio Film and Television ("SARFT") and the national
operator of CMMB.
(Logo: http://www.newscom.com/cgi-bin/prnh/20070528/CNM014LOGO )
Vimicro and CSMBC will collaborate on developing new technology and new
business for the widespread utilization of the CMMB standard throughout China.
As part of the agreement, Vimicro will develop highly reliable and highly
integrated CMMB chip solutions, while CSMBC will provide support and
assistance functions including CMMB handset testing and certification. Both
companies will actively promote the CMMB standard and technology in the end
user market.
CMMB is China's proprietary standard for mobile TV broadcasting on small
screen devices, such as 3G phones, PDAs, netbooks and smart phones. CMMB
enables users to receive live TV programs and multimedia data on TD-SCDMA
networks under a multi-year exclusive broadcast agreement, which is signed by
CSMBC and China Mobile early this year.
"Vimicro has consistently been playing a key role in the development of
multimedia technologies in China," commented Dr. John Deng, Vimicro's Chairman
and Chief Executive Officer. "We are pleased to partner with CSMBC to
accelerate multimedia user capabilities under China's CMMB standard for mobile
devices on the rapidly growing TD-SCDMA network. This agreement further
enhances our position as a recognized leader of mobile multimedia technologies
for the deployment of CMMB and TD-SCDMA networks."
About Vimicro International Corporation
Vimicro International Corporation is a leading multimedia semiconductor
and solution provider that designs, develops and markets mixed-signal
semiconductor products and system-level solutions that enable multimedia
capabilities in a variety of products for the consumer electronics and
communications markets. Vimicro is also expanding business into the
surveillance market with system-level solutions and semiconductor products.
Vimicro's ADSs, each of which represents four ordinary shares, are currently
trading on the NASDAQ Global Market under the ticker symbol "VIMC."
About CSMBC
CSMBC invests in and operates domestic satellite mobile multimedia
broadcasting projects, including CMMB, and is also responsible for system
design, broadcast satellite technology development and signal transmission
services. Today approximately 200 cities in China are covered by local CMMB
networks with the number of cities covered expected to exceed 300 by year end.
Forward-Looking Statements
This announcement contains forward-looking statements. These statements
are made under the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates," "confident" and similar
statements. Among other things, the quotations from management in this
announcement, as well as Vimicro's expectations and forecasts, contain
forward-looking statements. Vimicro may also make written or oral
forward-looking statements in its periodic reports to the U.S. Securities and
Exchange Commission on forms 20-F and 6-K, etc., in its annual report to
shareholders, in press releases and other written materials and in oral
statements made by its officers, directors or employees to third parties.
Statements that are not historical facts, including statements about Vimicro's
beliefs and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of factors could
cause actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the following: the
company's ability to develop and sell new mobile multimedia products; the
expected growth of the mobile multimedia market; the company's ability to
increase sales of PC and notebook camera multimedia processors; the company's
ability to retain existing customers and acquire new customers and respond to
competitive market conditions; the company's ability to respond in a timely
manner to the evolving multimedia market and changing consumer preferences and
industry standards and to stay abreast of technological changes; the company's
ability to secure sufficient foundry capacity in a timely manner; the
company's ability to effectively protect its intellectual property and the
risk that it may infringe on the intellectual property of others; and
cyclicality of the semiconductor industry. Further information regarding these
and other risks is included in Vimicro's annual report on Form 20-F filed with
the Securities and Exchange Commission. Vimicro does not undertake any
obligation to update any forward-looking statement, except as required under
applicable law. All information provided in this press release is as of the
date hereof, and Vimicro undertakes no duty to update such information, except
as required under applicable law.
For further information about Vimicro, please contact:
Public Relations Contacts:
Haizhen Du
Tel: +86-10-6894-8888 x8309
Email: duhaizhen@vimicro.com
Angela Ruggiero
Stanton Communications
Tel: +1-212-616-3601
Email: aruggiero@stantoncomm.com
Investor Relations Contacts:
Vanessa Wang
Tel: +86-10-6894-8888 x7294
Email: wangjingyi@vimicro.com
Leanne K. Sievers
Shelton Group Investor Relations
Tel: +1-949-224-3874
Email: lsievers@sheltongroup.com
SOURCE Vimicro International Corporation
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