SANTA ANA, Calif.--(BUSINESS WIRE)--SRS Labs, Inc. (NASDAQ: SRSL), officially recognized as one of America’s Greatest Brands and the industry leader in surround sound, audio and voice technologies, today announced it has signed a multi-year licensing agreement with HTC Corporation, a global leader in mobile innovation and design, to expand their adoption of SRS audio solutions within their smartphone and media tablet product lines.
“By partnering with HTC, SRS Labs continues to demonstrate its worldwide leadership in design, development and deployment of mobile audio enhancement solutions,” said Bob Lyle, Vice President of Mobile Solutions Group for SRS Labs. “Today’s customers demand enhanced, HD-quality audio and 3D audio effects to complement the already impressive HD video capabilities available on a majority of the mobile devices on the market. SRS has already proven itself as the gold standard for advanced surround sound and 3D audio solutions in consumer electronics and we are confident that our world-class mobile audio enhancement technologies will add significant value to HTC’s rapidly growing line of smartphones and media tablets.”
To-date, SRS WOW HD™ has shipped in millions of HTC products including the HTC EVO 3D™, Thunderbolt™, Surround 7™, Wildfire S™, Desire HD™ and HTC Arrive™ smartphones, as well as HTC media tablets. Under the new, multi-year agreement with SRS Labs, HTC will have access to several new advanced SRS technology solutions including SRS TruMedia™, TruMedia HD™ and the recently announced SRS TruGaming™, a 3D positioning technology designed specifically for mobile gaming.
Industry experts expect smartphones to grow rapidly in the next three years and hit the 700-million unit mark by 2014, as lower-cost smartphones replace more traditional feature phones. During the same time, media tablets are estimated to grow even faster than the smartphone category to form a 200-million unit market. By expanding its partnership with HTC and key integrated chip suppliers such as Qualcomm and Texas Instruments, SRS is in a unique position to deliver HD-quality audio and voice solutions to mobile device manufacturers and take full advantage of the market growth in both smartphone and media tablet categories.
About SRS Labs, Inc.
Founded in 1993, SRS Labs is the industry leader in audio signal processing for consumer electronics across the four screens: TV; PC; Mobile Phones; and Automotive Entertainment Systems. Beginning with the audio technologies originally developed at Hughes Aircraft, SRS Labs holds over 150 worldwide patents and is recognized by the industry as the foremost authority in research and application of audio post processing technologies based on the human auditory principles. Through partnerships with leading global CE companies, semiconductor manufacturers, software developers, and content aggregators, SRS is recognized as the de facto standard in audio enhancement, surround sound, volume leveling, audio streaming, and voice processing technologies. SRS solutions have been included in over two billion electronic products sold worldwide including flat panel HDTVs, AV products, STBs, PCs, mobile phones, and automotive entertainment and telematics systems. For more information, visit www.srslabs.com.
Except for historical information contained in this release, statements in this release, including those by Mr. Lyle,may constitute forward-looking statements regarding our assumptions, projections, expectations, targets, intentions or beliefs about future events that are based on management's belief, as well as assumptions made by, and information currently available to, management. While the Company believes that its expectations are based upon reasonable assumptions, there can be no assurances that the Company's goals and strategy will be realized. Numerous factors, including risks and uncertainties, may affect the Company's actual results and may cause results to differ materially from those expressed in forward-looking statements made by or on behalf of the Company. Some of these factors include the acceptance of new SRS Labs’ products and technologies, the impact of competitive products and pricing, the timely development and release of technologies by the Company, general business and economic conditions, especially in Asia, and other factors detailed in the Company's Form 10-K and other periodic reports filed with the SEC. SRS Labs specifically disclaims any obligation to update or revise any forward-looking statement whether as a result of new information, future developments or otherwise.