LAS VEGAS – January 9, 2003 – Apex Digital, North America’s sales leader for DVD players, has selected Cirrus Logic, Inc.’s (Nasdaq: CRUS), CS92288 A/V CODEC as the MPEG audio and video encoding solution for its new combination DVD player and hard drive-based digital video recorder, the Apex PVR-1000. Targeting a market entry price of below $500, Apex’s Personal Video Recorder product is in pre-production now with expected volume production in late January 2003 for availability in North American and European consumer retail outlets by 1Q 2003.
Apex’s digital video recording devices are designed to offer consumers an affordable device that will play DVDs and also record video content – such as broadcast television and home movies – onto a hard drive. The Apex PVR also offers a “time-shifting” feature, allowing users to begin playback of recorded content, such as a television program, while it is still being recorded.
“Apex Digital is a sales leader in the DVD market because we provide high-value, affordable consumer products, and Cirrus Logic is helping Apex take an early leadership position in the digital recording market,” said Ancle Hsu, chief operating officer, Apex Digital. “We expect tremendous sales of our new DVD recorder product; in fact, early product demonstrations are showing the Cirrus-enabled time-shift recording feature to be exceptionally popular.”
Cirrus’ CS92288 solution is at the heart of the PVR-1000, providing the digital encoding function that allows for digital recording of broadcast television or other content directly onto the unit’s 40 gigabyte hard drive. Cirrus’ CS92288 encoding solution provides easy-to-use high-quality video recording over a wide range of bitrates.
Much of Apex’s sales leadership in the DVD player market is driven by its extensive consumer retail distribution network, which includes many of North America’s leading retailers such as Circuit City, Wal-Mart, Sam’s Club, Fry’s Electronics, Sears, HH Gregg, K-Mart, Rex TV and others.
“Apex is the world’s leading DVD player manufacturer because it makes great consumer products at affordable prices and has a tremendous global distribution network,” said Terry Leeder, senior vice president, Sales and Marketing, Cirrus Logic. “Cirrus is delighted to be providing Apex with the solutions it needs to extend its leadership into the rapidly growing digital video recording market.”
DVD-based products that can record content digitally are expected to become the fastest growing segment in digital entertainment during the next several years, with analysts predicting possible unit sales ranging from 14 to 18 million by 2005. These devices will allow consumers to upgrade more than 30 years of VCR technology and begin to store and view content in the digital domain.
Cirrus Logic, Inc.
Cirrus Logic is a premier supplier of high-performance analog and
DSP chip solutions for consumer entertainment electronics that
allow people to see, hear, connect and enjoy digital entertainment.
Building on its global market share leadership in audio integrated
circuits and its rich mixed-signal patent portfolio, the company
targets mainstream audio, video and Internet entertainment
applications in the consumer entertainment market. Cirrus Logic
operates from headquarters in Austin, Texas, with offices in
California, Colorado, Europe, Japan and Asia.
Apex Digital Inc.
Headquartered in Ontario, California, Apex Digital Inc. is the
country’s leading manufacturer and marketer of DVD home
entertainment players and the fastest growing supplier of analog
and digital televisions. The company’s products are now
carried in over 15,000 retail outlets nationwide. For more
information about Apex Digital Inc., go to
www.apexdigitalinc.com.
Safe Harbor Provision
Except for historical information contained herein, the matters
set forth in this news release are forward-looking statements that
are dependent on certain risks and uncertainties including such
factors, among others, as the ability of the CS92288 to perform as
expected and the risk factors listed in the company’s Form
10-K for the year ended March 30, 2002, and in other filings with
the Securities and Exchange Commission. The foregoing information
concerning Cirrus Logic’s business outlook represents our
outlook as of the date of this news release, and Cirrus Logic
undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new developments or otherwise,
except as required by law.
Cirrus Logic is a trademark of Cirrus Logic, Inc. All other product names noted herein may be trademarks of their respective holders.
