July 30, 2008
LG to offer handsets incorporating Dolby Mobile technology worldwide
Seoul, Korea and San Francisco, July 30, 2008-LG Electronics (LG), a worldwide technology and design leader in mobile communications, and Dolby Laboratories, Inc. (NYSE: DLB), the global leader in technologies that are essential elements in the best entertainment experiences, announced that LG would be the first handset maker to incorporate Dolby® Mobile into handsets bound for the global market. The companies signed an agreement that grants LG a license to embed Dolby Mobile technology into its handsets.
Dolby Mobile is an audio processing technology platform designed to deliver rich, vibrant audio and dramatically improve listening enjoyment. Built on Dolby's extensive portfolio of technologies, Dolby Mobile has been optimized for mobile applications.
"Being the first company to incorporate Dolby Mobile technology into handsets for the global market reinforces LG's role as a leader in the mobile industry and in multimedia phones," said Dr. Skott Ahn, President and CEO of LG Electronics Mobile Communications Company. "We believe this technology will raise the bar for audio quality on multimedia phones and expect Dolby Mobile to help us create a new trend in the mobile phone industry. LG is committed to providing our customers with the best features available and our new collaboration with Dolby helps us deliver on this pledge."
"LG shares our passion for cutting-edge innovation. This agreement combines LG's vision and resources with Dolby's pioneering leadership in entertainment technology to deliver the next generation of mobile entertainment," said Bill Jasper, President and Chief Executive Officer, Dolby Laboratories. "Our broad experience and success working with LG in the past gives us great confidence as we move forward."
Dolby Mobile is designed to allow customers to optimize and tailor audio for an enhanced entertainment experience. LG plans to apply Dolby Mobile technology to a wide range of multimedia features on its phones.
Some of the Dolby Mobile features that LG plans to incorporate into its phones include:
The companies held a signing ceremony earlier today in Seoul to officially kick off their collaboration. Dr. Woo Young Kwak, R&D Center Head of LG Electronics Mobile Communications Company, and Stuart Mitchell, Senior Vice President, Sales at Dolby Laboratories, attended the ceremony.
LG plans to begin launching high-end multimedia phones that incorporate Dolby Mobile technology from the fourth quarter of this calendar year.
About LG Electronics, Inc.
LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, home appliances, and mobile communications, employing more than 82,000 people working in over 110 operations including 81 subsidiaries around the world. With 2007 global sales of USD 44 billion, LG is comprised of four business units-Mobile Communications, Digital Appliance, Digital Display, and Digital Media. LG is the world's leading producer of mobile handsets, flat-panel TVs, air conditioners, front-loading washing machines, optical storage products, DVD players, and home theater systems.
LG Electronics Mobile Communication Company (LG) is a leading producer of mobile handsets. LG creates handsets that provide optimized mobile experience to customers around the world with its cutting-edge technology and innovative handset design capabilities. With advanced wireless solutions, LG is rapidly expanding its presence and market share globally. For more information, please visit www.lge.com.
About Dolby Laboratories
Dolby Laboratories (NYSE:DLB) is the global leader in technologies that are essential elements in the best entertainment experiences. Founded in 1965 and best known for high-quality audio and surround sound, Dolby innovations enrich entertainment at the movies, at home, or on the go. Visit www.dolby.com for more information.
Certain statements in this press release, including statements regarding the capabilities of Dolby Mobile technologies, the timing and availability of Dolby Mobile LG handsets, the delivery of next- generation entertainment, trends in the mobile phone industry, and LG's plans to apply Dolby Mobile are "forward-looking statements" that are subject to risks and uncertainties. These forward-looking statements are based on Dolby and LG management's current expectations. The following important factors, without limitation, could cause actual results to differ materially from those in the forward-looking statements: risks that Dolby Mobile technologies may not perform as anticipated; risks that the Dolby Mobile handsets may not be available by the end of the calendar year or at all; risks that Dolby Mobile is not applied to a wide range of multimedia features; and other risks detailed in Dolby's Securities and Exchange Commission filings and reports, including the risks identified under the section captioned "Risk Factors" in its most recent Periodic Report on Form 10-Q or 10-K. Dolby disclaims any obligation to update information contained in these forward-looking statements, whether as a result of new information, future events, or otherwise.
Dolby and the double-D symbol are registered trademarks of Dolby Laboratories. S08/20166 DLB-G
Jun Hyuk Choi