TUALATIN, Ore., Feb 14, 2003 (BUSINESS WIRE) -- Pixelworks, Inc. (NASDAQ:PXLW),
a leading provider of system-on-a-chip ICs for the advanced display market,
announced today that LG Electronics, one of the leading LCD television
manufacturers in the world, has selected Pixelworks ImageProcessor technology to
drive LG's new 17-inch widescreen LCD television products.
The LG WXGA-resolution Flatron(TM) LCD television using the new PW181
ImageProcessor IC marks the worldwide debut of Pixelworks' new suite of Digital
TV features that set a new standard for how consumers experience their TVs with
Intelligent Windowing(TM) and an enhanced graphical user interface. With
Pixelworks ImageProcessor Architecture, the RZ-17LZ10 widescreen LCD TV delivers
outstanding images from standard television, HDTV and computer sources on a
high-performance LG.Philips LCD screen.
LG implemented Pixelworks Intelligent Windowing(TM) in the RZ-17LZ10 that pushes
content management on televisions to a new level with many options for
configuring the on-screen content, including picture-in-picture (PIP), split
screen, and picture-on-picture (POP) enabling multiple sources and channels to
be displayed simultaneously. Taking it one step further, Pixelworks Intelligent
Windowing(TM) technology uses advanced scaling to allow users to resize and
relocate windows to suit their viewing preference. LG also worked with
Pixelworks to design an attractive and intuitive user interface that helps
consumers smoothly operate their televisions.
LG Electronics announced in January its commitment to the digital TV business
with a $1.35 billion investment in research and development and marketing with
the goal of becoming the world's largest maker of digital TVs by 2005. According
to DisplaySearch, the worldwide LCD television market is expected to grow
rapidly over the next 18 months from approximately 480,000 units in the fourth
quarter of 2002 to more than 2 million units in the third quarter of 2004.
"For our newest widescreen LCD televisions, we wanted to stand above all others
in the worldwide market," said Mr. S.G. Choi, Chief Research Engineer at DND(TV)
Division Digital Display Multimedia Company, LG Electronics. "With the help of
Pixelworks, the RZ-17LZ10 will help consumers explore new and exciting ways to
experience digital television content."
"We are proud to be working with LG, a worldwide leader in consumer electronics,
to introduce an LCD television that opens new possibilities for enjoying digital
entertainment," said Brad Zenger, Vice President of Sales and Marketing of
Pixelworks, Inc. "Pixelworks is looking forward to partnering with LG on future
LCD TV products that we anticipate will be introduced through the coming year."
The RZ-17LZ10 model for Europe is currently available, with additional versions
for Korea and the U.S. markets planned for the second quarter. The U.S. version
will be marketed under the LG and Zenith brand names.
About Pixelworks, Inc.
Pixelworks, headquartered in Tualatin, Oregon, is a leading provider of
system-on-a-chip ICs for the advanced display market. Pixelworks' solutions
process and optimize video, computer graphics and Web information for display on
a wide variety of devices used in business and consumer markets, including
flat-panel monitors, digital televisions and multimedia projectors. Our broad IC
product line is used by the world's leading manufacturers of consumer
electronics and computer display products to enhance image quality and ease of
use. For more information, please visit the company's Web site at
Pixelworks is a trademark of Pixelworks, Inc. All other trademarks and
registration marks are the property of their respective corporations.
Safe Harbor Statement
This press release contains statements that are forward-looking statements
within the meaning of the Securities Litigation Reform Act of 1995. Such
statements are based on current expectations, estimates and projections about
the company's business. These statements are not guarantees of future
performance and involve certain risks, uncertainties and assumptions that are
difficult to predict. Actual results could vary materially from the description
contained herein due to many factors including those described above and the
following: business and economic conditions, changes in growth in the flat panel
monitor, multimedia projector, and advanced television industries, changes in
customer ordering patterns, competitive factors, such as rival chip
architectures, pricing pressures, insufficient, excess or obsolete inventory and
variations in inventory valuation, continued success in technological advances,
shortages of manufacturing capacity from our third-party foundries, litigation
involving antitrust and intellectual property, the non-acceptance of the
combined technologies by leading manufacturers, and other risk factors listed
from time to time in the company's Securities and Exchange Commission filings.
In addition, such statements are subject to the risks inherent in investments in
and acquisitions of technologies and businesses, including the timing and
successful completion of technology and product development through volume
production, integration issues, unanticipated costs and expenditures, changing
relationships with customers, suppliers and strategic partners, potential
contractual, intellectual property or employment issues, accounting treatment
and charges, and the risks that the investment or acquisition cannot be
completed successfully or that anticipated benefits are not realized. The
forward-looking statements contained in this press release speak only as of the
date on which they are made, and the company does not undertake any obligation
to update any forward-looking statement to reflect events or circumstances after
the date of this news release. If the company does update one or more
forward-looking statements, investors and others should not conclude that the
company will make additional updates with respect thereto or with respect to
other forward-looking statements.
Chris Bright, 503/454-1770 (Media)
Jeff Bouchard, 503/454-1750, ext. 604 (Investors)
Copyright (C) 2003 Business Wire. All rights reserved.