SAN FRANCISCO & BEIJING--(BUSINESS WIRE)--Xiaomi, a leading technology company headquartered in China, and Via Licensing, a leading world-wide intellectual property solutions provider, have entered into an agreement granting Xiaomi a license to use the patented technology in Via’s Advanced Audio Coding (AAC) patent pool. That technology, incorporated in Xiaomi’s products sold around the world, enables consumers to enjoy high-quality audio with high compression efficiency, reducing the amount of data consumed and processing power required.
“We are very pleased to work with Xiaomi’s highly professional and dedicated IP team to reach this agreement,” said Joe Siino, President of Via. “Xiaomi recognized the value in our AAC patent pool and was instrumental in helping Via adjust for unique dynamics in China and other emerging markets in fair and reasonable ways."
“Via has demonstrated that the AAC licensing model can fairly and efficiently address unique market circumstances, like those in China,” said Xiang Wang, Senior Vice President at Xiaomi. “Joining over 800 other AAC licensees shows Xiaomi’s commitment to bringing the best user experience to our customers. This agreement helps ensure that our customers will continue to enjoy extremely high-quality audio in markets around the world.”
Xiaomi was founded in 2010 by serial entrepreneur Lei Jun based on the vision “innovation for everyone.” We believe that high-quality products built with cutting-edge technology should be made accessible to everyone. We create remarkable hardware, software, and Internet services for and with the help of our Mi fans. We incorporate their feedback into our product range, which currently includes Mi and Redmi smartphones, Mi TVs and set-top boxes, Mi routers, and Mi Ecosystem products including smart home products, wearables and other accessories. With more than 70 million handsets sold in 2015, Xiaomi is expanding its footprint across the world to become a global brand.
About Via Licensing Corporation
Via Licensing Corporation is a wholly-owned subsidiary of Dolby Laboratories, Inc., a company with more than 50 years of experience in innovation and technology licensing. Via is dedicated to the development and administration of licensing programs for mandated, de facto, and emerging standards on behalf of innovative technology companies in the audio, broadcast, wireless, and automotive markets. For more information about Via, please visit viacorp.com.