BEIJING, Nov. 9 /PRNewswire-Asia/ -- 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.
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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
