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Palo Alto, CA., March
8, 2004
Digital Video
Systems, Inc. (Nasdaq: DVID - News), a global leader in DVD technologies,
today announced that its subsidiary, DVS Korea, is now certified
to the latest world-wide automotive supplier quality standard ISO/TS
16949:2002, having successfully completed an independent quality
audit in December, 2003.
Evolved from ISO 9001 and other world standards, this new ISO/TS
16949:2002 standard defines quality system requirements for use
in the automotive supply chain. Certification under this new standard,
which is adopted or being adopted by the major automotive OEMs around
the world, establishes the Company as a participant in the automotive
industry and paves the way for the planned growth of the Company’s
new line of automotive DVD products.
Acknowledging the importance of this certification, DVS Korea CEO
Dr. Song Sim said, “Receiving the ISO/TS 16949:2002 certification
demonstrates that our company’s quality management system
is globally accepted and approved. This will enable us to accelerate
our sales and marketing efforts with the major worldwide suppliers
for automotive DVD/AV products."
In January, 2004, DVS Korea received a contract from Visteon Corporation,
one of the largest developers and producers of automotive parts
and systems in the world, to supply DVD sub-systems for Visteon’s
automotive Family Entertainment Systems. Additional information
about the ISO/TS 16949:2002 standard may be obtained at the IAOB
(International Automotive Oversight Bureau) web site:
www.iaob.org.
For
additional information please contact:
Digital Video Systems, Inc.
430 Cambridge Ave., Suite 110,
Palo Alto, CA 94306
Tel: 650.322.8108
Fax:650.322.8109
DVS
America, Inc.
Shaun Kang, EVP Sales and Marketing
1180 Aster, Suite F
Sunnyvale, CA 94086
Tel: 408.260.3301
Fax: 408.260.3305
DVS
Contact:
Larissa Licea
Office: 650.322.8108, ext.106
E-Mail:
ir@dvsystems.com
Investor Relations Contact:
Sean Collins, Partner
CCG Investor Relations
15300 Ventura Blvd, Suite 303
Sherman Oaks, CA 91403
Office: 818. 789.0100 X 202
E-Mail:
sean.collins@ccgir.com
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About
DVS Korea
DVS Korea Co., Ltd. was established in 1998 following the acquisition
by DVS of the DVD operations of Hyundai Electronics. Assets acquired
included the management and R&D team, manufacturing equipment and
capabilities, patents, and a perpetual, worldwide, royalty-free, exclusive
license to all DVD-related intellectual properties of Hyundai Electronics.
In 2002, DVS Korea began trading on the Korean Stock Exchange (KOSDAQ)
as DVS. DVS Korea is currently a leading provider in the worldwide
external DVD loader market with an estimated 20% market share.
About
Digital Video Systems, Inc.
Established in 1992, DVS is a publicly held company
specializing in the development and application of digital video
technologies enabling the convergence of data, digital audio, digital
video and high-end graphics. DVS is headquartered in Palo Alto,
California, with subsidiaries and manufacturing facilities in South
Korea, China and India.
Safe
Harbor Statement under the Private Securities Litigation Reform
Act of 1995: Any statements made
in this release that are not historical facts contain forward-looking
information that involves risks and uncertainties. These forward-looking
statements include, but are not limited to, statements regarding
progress in the markets for DVD car players and the introduction
of new technologies. Other important factors that may cause actual
results to differ include, but are not limited to, the timely availability
of components, sufficiency of working capital, the impact of competitive
products and services, the Company's ability to manage growth and
acquisitions of technology or businesses, risks attendant to strategic
agreements involving other companies, the effect of economic and
business conditions, the risks of conducting business in foreign
countries and other risks detailed from time to time in the Company's
filings with the Securities and Exchange Commission. Digital Video
Systems, Inc. assumes no obligation to update these forward-looking
statements, and does not intend to do so.
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