Audiovox Corporation (Nasdaq: VOXX) and FLO TV Incorporated, provider of the award-winning FLO TV(TM) live mobile TV service and a wholly owned subsidiary of Qualcomm Incorporated (Nasdaq: QCOM), today announced distribution plans for the launch of FLO TV Auto Entertainment, an in-vehicle entertainment system delivering live TV service. The system will be available for demonstration to media today during the annual "Pepcom Holiday Spectacular!" event in New York City.
Audiovox will be a supplier of the aftermarket FLO TV Auto Entertainment system and will manage the launch through its Expeditor distribution network, which targets more than 12,000 new car dealers in 85 markets nationwide. Through this extensive network, FLO TV Auto Entertainment is scheduled to be available to consumers in the fourth quarter of 2009.
"We believe our FLO TV offering is head and shoulders above any other mobile TV system, from the reception quality and breadth of FLO TV programming content to the unobtrusive antenna that literally fits in the palm of your hand," said Tom Malone, president, Audiovox Electronics Corporation. "This car entertainment system from Audiovox and FLO TV, scheduled for initial introduction in the fourth quarter of 2009, will give consumers affordable live TV with the programming brands and TV shows that consumers know and love."
The first FLO TV Auto Entertainment system will be marketed under Audiovox's Advent brand, which is exclusive to the new car dealer network. It is compatible with all vehicle makes and models and adds to any in-car overhead or headrest entertainment system with screen sizes up to 10.5 inches. In addition, there are approximately 23 million vehicles in the U.S. equipped with existing in-car entertainment systems that can be retrofitted with the small, easy-to-install FLO TV Auto Entertainment system.
"Our collaboration with Audiovox demonstrates FLO TV's market expansion beyond mobile phones to deliver innovative live TV service to consumers," said Bill Stone, president of FLO TV. "The market for live mobile TV is growing, with tens of millions of U.S. vehicles already equipped with a variety of mobile video entertainment systems. FLO TV Auto Entertainment can provide consumers with the ideal combination of affordable and high-quality service to give them a home-like viewing experience in their automobiles."
The FLO TV service offers top-rated entertainment, news, sports and children's programming from some of the world's best media brands. The service delivers video over a dedicated digital multicasting network built from the ground up by FLO TV to provide the best mobile television experience possible at a competitive price. Authorized car dealers will offer one year of FLO TV Auto Entertainment service included with the hardware purchase, with annual plans starting at special introductory rates as low as $119 per year or 3-year plans starting at $299, the equivalent of less than $9 per month.*
The new FLO TV Auto Entertainment system will provide dealers with additional revenue channels and offer consumers a cost-efficient alternative to DVDs. Consumers will be able to purchase the system and service through an extensive network of more than 12,000 U.S. automotive dealers and expeditors through a partnership with Audiovox. In addition, FLO TV Auto Entertainment will be available in major retail outlets for purchase and installation by end of 2010.
"New car dealers will sell FLO TV Auto Entertainment as an add-on to a mobile video system at the time of vehicle purchase and as part of the overall vehicle cost," Malone said. "We believe the combination of this technology and our hardware solution will take in-vehicle entertainment to the next level, delivering fast channel changing at the touch of a button, just as consumers experience at home."
All programming is subject to change / blackout restrictions. Service not available everywhere.
*Taxes not included. Additional fees and charges may apply. Pricing and service subject to change at any time. After the expiration of the original prepaid subscription, the subscription will automatically renew and the subscriber's credit card will be charged at the then-current rate. Prepaid subscription required for 1-year / 3-year plans. *1-year prepaid subscription required for $9.99 / mo. package. *3-year prepaid subscription required for $8.99 / mo. package. $10 off the first month's service with the purchase of a device when you sign up for a monthly subscription package. Special introductory offers and waived activation fee expire 12/31/09. Please review the FLO TV Customer Contract and Privacy Statement for additional terms and conditions. All prepaid annual and monthly subscription payments are non-refundable. All programming subject to change and blackout restrictions. Purchase of compatible device required to view the FLO TV service. Visit www.flotv.com [1] for coverage information.
About Audiovox
Audiovox (Nasdaq: VOXX) is a recognized leader in the marketing of automotive entertainment, vehicle security and remote start systems, consumer electronics products and consumer electronics accessories. The company is number one in mobile video and places in the top ten of almost every category that it sells. Among the lines marketed by Audiovox are its mobile electronics products including mobile video systems, auto sound systems including satellite radio, vehicle security and remote start systems; consumer electronics products such as MP3 players, digital camcorders, DVRs, clock radios, portable DVD players, extended range two-way radios; multimedia products like digital picture frames and home and portable stereos; consumer electronics accessories such as indoor/outdoor antennas, connectivity products, headphones, speakers, wireless solutions, remote controls, power & surge protectors and media cleaning & storage devices; Energizer-branded products for rechargeable batteries and battery packs for camcorders, cordless phones, digital cameras and DVD players, as well as for power supply systems, automatic voltage regulators and surge protectors. The company markets its products through an extensive distribution network that includes power retailers, 12-volt specialists, mass merchandisers and an OE sales group. The company markets products under the Audiovox, RCA, Jensen, Acoustic Research, Energizer, Advent, Code Alarm, TERK, Prestige and SURFACE brands. For additional information, visit our Web site at www.audiovox.com [2].
About FLO TV Incorporated
The FLO TV service combines the best content, an intuitive user interface and a superior multicast network to deliver a true quality TV viewing experience for consumers. FLO TV offers full-length simulcast and time-shifted programming from the world's best entertainment brands, including CNBC, Comedy Central, MSNBC, MTV, NBC, NBC 2Go, NBC News, NBC Sports and Nickelodeon. Based in San Diego, Calif., FLO TV Incorporated is a wholly owned subsidiary of Qualcomm Incorporated. Further information is available at www.flotv.com [1].
Audiovox Safe Harbor Statement
Except for historical information contained herein, statements made in this release that would constitute forward-looking statements may involve certain risks and uncertainties. All forward-looking statements made in this release are based on currently available information and Audiovox assumes no responsibility to update any such forward-looking statements. The following factors, among others, may cause actual results to differ materially from the results suggested in the forward-looking statements. The factors include, but are not limited to, further deterioration in the global economy; risks that may result from changes in Audiovox's business operations; Audiovox's ability to keep pace with technological advances; significant competition in the mobile and consumer electronics and accessories businesses; Audiovox's relationships with key suppliers and customers; quality and consumer acceptance of newly introduced products; market volatility; non-availability of product; excess inventory; price and product competition; new product introductions; the possibility that the review of our prior filings by the SEC may result in changes to Audiovox's financial statements; and the possibility that stockholders or regulatory authorities may initiate proceedings against Audiovox and/or our officers and directors as a result of any restatements. Risk factors associated with Audiovox's business, including some of the facts set forth herein, are detailed in the Company's Form 10-K for the fiscal year ended February 28, 2009.
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