November 13, 2002 - San Jose, CA and Wayne, NJ – Toshiba America Consumer Products Inc., a subsidiary of Toshiba Corporation's subsidiary, Toshiba America, Inc., announced today its license agreement with TiVo Inc. (NASDAQ: TIVO), the creator and leader of television services for digital video recording. Toshiba becomes the latest technology licensee of the TiVo digital video recorder (DVR) technology. Toshiba's selection of TiVo will lead to products that will be available to consumers for the 2003 holiday buying season.
The choice to license TiVo technology is consistent with Toshiba's vision and a long-term business direction to offer advanced digital products that enhance the consumer's lifestyle and change the way they enjoy home entertainment. Coupling DVR innovation with Toshiba's leadership in digital technology enables Toshiba to create a new dimension of products that will both enhance the quality of and add value to the home entertainment experience.
"We are very excited to offer TiVo to consumers and incorporate this innovative technology into our future product lines," said Mr. Toru Uchiike, President of Toshiba America Consumer Products, Inc. "We view DVR as a central component to the next generation of digital consumer products. With the sophisticated, user – friendly navigation interface, TiVo is the DVR solution of choice. Toshiba views this agreement as an opportunity to develop solutions that support our vision and capitalize on the combined strength of the Toshiba and TiVo brands."
"Toshiba, one of the world's largest consumer electronics companies, has always been a driving force in spurring widespread adoption for innovative new products and brand new product categories," said Mike Ramsay, TiVo's CEO. "TiVo is the most widely licensed DVR platform today and the technology licensing agreement with Toshiba is critical to our goal of creating an open standards platform that will spur exciting new products for consumers and mass deployment of DVR technology."
Founded in 1997 with the mission to dramatically improve consumers' television viewing experiences, TiVo (NASDAQ: TIVO) is the creator and leader in television services for digital video recorders (DVR). TiVo's leadership has defined and inspired the entire category, earning the company patents for pioneering inventions associated with DVR software and hardware design. TiVo was the first to deliver on the promise of consumer choice and control over TV viewing, building a loyal and passionate subscriber base with over 97% of customers surveyed recommending TiVo to a friend. This enthusiasm has contributed to overwhelming growth over the past year, and the total subscriber base exceeds 464,000. TiVo is headquartered in San Jose, CA. Additional information can be found at www.tivo.com.
About Toshiba America Consumer Products, Inc.
Toshiba America Consumer Products, Inc. is an independent operating company, owned by Toshiba America, Inc., a subsidiary of Toshiba Corporation, a world leader in high technology products with subsidiaries worldwide. Toshiba America Consumer Products is a pioneer in DVD technology and a leading manufacturer of a full line of home entertainment products, including televisions, home theater projectors, combination products and portable devices. Toshiba America Consumer Products is headquartered in Wayne, New Jersey with production facilities in Lebanon, Tennessee. For additional information please visit www.toshiba.com/tacp.
This release may contain forward-looking statements regarding TiVo's business, customers or other factors that may affect future earnings or financial results. Such statements involve risks and uncertainties, which could cause actual results to vary materially from those, expressed in or indicated by the forward-looking statements. Factors that may cause actual results to differ materially include delays in development, competitive service offerings and lack of market acceptance, as well as the "Factors That May Affect Future Operating Results" and other risks detailed in our Annual Report on Form 10-K for the period ended December 31, 2000, the Transition Report on Form 10-K for the period ended January 31, 2001, and the Quarterly Report on Form 10-Q for the period ended October 31, 2001, filed with the Securities and Exchange Commission. We caution you not to place undue reliance on forward-looking statements, which reflect an analysis only and speak only as of the date hereof.
TiVo is a registered trademark of TiVo Inc. in the United States and other jurisdictions. All other company or product names mentioned may be trademarks or registered trademarks of the respective companies with which they are associated.