HUMAX INKS DEAL WITH DIRECTV FOR DIGITAL SATELLITE SET TOP BOXES
Seoul Korea, February 24, 2005 – Humax, a leading international manufacturer of digital satellite set-top boxes today disclosed it has entered into a development agreement and supply agreement with DIRECTV, Inc. the leading digital satellite TV provider in the United States. ###
The agreements encompass various set top box models including a portion of the entry-level receivers that will feature interactive services and a HDTV receiver capable of receiving MPEG 4 broadcasts due to ship later in the year. In addition, Humax is producing the new DIRECTV DVR, also due out later this year.
Dr. Dae Gyu Byun, Chairman and CEO of Humax Co. LTD, says, “Humax is proud to be added to the roster of DIRECTV approved vendors, it’s an important milestone in our history. Our business is very much aligned with DIRECTV; Humax was born as a Satellite set top box manufacturer and continues to gain market share worldwide in this segment. Our experience in this space, combined with a dedicated and knowledgeable staff, will prove to be very valuable to this relationship.”
Romulo Pontual, Executive Vice President and Chief Technology Officer of DIRECTV, said, "DIRECTV is poised to introduce several compelling new products and services in 2005. We are pleased to have Humax as a partner to develop and manufacturer set top boxes for DIRECTV. Humax brings years of proven cost effective set top box design and manufacturing."
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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 located in Korea, India and China. Humax recorded revenues exceeded US $400 million in 2004 and has announced plans to increase this figure to $1 billion by 2006.
DIRECTV is the nation's leading digital multichannel television service provider with more than 13.9 million customers. DIRECTV and the Cyclone Design logo are registered trademarks of DIRECTV, Inc., a unit of The DIRECTV Group, Inc. (NYSE:DTV). The DIRECTV Group is a world-leading provider of digital multichannel television entertainment, broadband satellite networks and services, and global video and data broadcasting. The DIRECTV Group is 34 percent owned by Fox Entertainment Group, which is approximately 82 percent owned by News Corporation.