P R E S S R E L E A S E
JVC Consolidates Projector Operations With Absorption of Hughes-JVCEstablishes North America Digital Image Technology Center
Establishes Visual Systems Division
Move Will Leverage Brand Equity and Create New Efficiencies in Sales, Marketing and Support Services
WAYNE, N.J.--(BUSINESS WIRE)--Dec. 16, 1999-- JVC Americas Corp., the Americas headquarters of Victor Company of Japan, Ltd. (JVC) today announced that it has consolidated its projector operations into JVC Professional Products Company, a division of JVC Americas Corp., and will develop and market all future projection systems under the JVC brand.
This consolidation will result in the creation of a new Visual Systems Division in JVC professional Products Company effective Jan. 1, 2000, to be headed by Jack Faiman as vice president and general manager. The consolidation involves both JVC branded projection systems and Hughes-JVC branded systems.
Under this reorganization, overall category management, as well as sales and marketing functions will be conducted out of JVC's Wayne, N.J. headquarters. JVC has established a new JVC Digital Image Technology Center in Carlsbad, Calif. as its North American hub for continued R&D. Today's announcement represents the final step in an incremental program through which JVC has sought to more effectively leverage brand equity in the projector marketplace, and capitalize on the resources it has invested in D-ILA (Direct-Drive Image Light Amplifier) technology.
"This consolidation represents a significant milestone for our projector operations, and for JVC as a whole," said Masaharu Mannen, president of JVC Professional Products Company. "By streamlining our organization in this fashion, we will significantly increase the efficiency of our sales and marketing efforts, while continuing our long-standing tradition of developing cutting-edge new technologies for a wide range of industrial, professional and consumer applications."
As part of the consolidation, JVC will bring all sales, marketing, service and technical support operations into the Visual Systems Division, under the umbrella of JVC Professional Products Company, effectively dissolving former subsidiary Hughes-JVC Technology Corp. The primary brand and marketing management of projectors will be transferred to JVC.
In the past, both Hughes-JVC Technology Corp. and JVC Professional Products Company have marketed similar products, specifically the JVC developed D-ILA technology, which revolutionized the projector industry. This reorganization will eliminate the Hughes designation from the JVC brand, to more effectively demonstrate JVC's position as a leading projector brand.
LEADER IN PRESENTATION TECHNOLOGY
JVC is an established leader in presentation technology. In fact, JVC's development of projector technology for the industrial and professional marketplace began over 15 years ago.
In 1985, a Hughes Aircraft Company team invented the first liquid crystal light valve for military applications. The device represented a breakthrough in digital imaging technology. By 1987, the Hughes team had achieved another milestone, introducing a liquid crystal light valve capable of displaying video as well as high-resolution graphics. In that same year, JVC began its own research into light valve technology.
In 1992, JVC and Hughes created Hughes-JVC Technology Corp., a joint venture dedicated to the task of cultivating light valve technology for consumer and industrial use. The partnership quickly resulted in the development of the ILA - Image Light Amplifier - capable of achieving over 3,000 lines of resolution.
In 1995, JVC acquired a controlling interest in Hughes-JVC, and continued to focus its efforts on delivering cutting edge display products. That focus paid off in 1997, when JVC engineers, working in Japan, developed the first Direct Drive Image Light Amplifier (D-ILA) projector for the professional and industrial market - a development that revolutionized the projection display market.
JVC recently added five new projectors to its D-ILA product line, underscoring its commitment to maintaining its leadership position in the rapidly evolving high-definition projection marketplace.
JVC has also been a leader in the development of second-generation plasma display monitors, and future expansion is planned in this product area. JVC also manufactures a line of LCD projectors and CCD camera-based visual presenters. The newly-formed Visual Systems division will handle all of these products.
DIGITAL IMAGE TECHNOLOGY CENTER IS ESTABLISHED
As a part of this reorganization, JVC has announced the formation of a Digital Image Technology Center in Carlsbad, Calif. The purpose of this center is to integrate research and development in Japan and North America, expanding the company's ability to develop and bring to market cutting edge digital display equipment for both professional and consumer applications. This integration will include information exchanges and joint technology development efforts with Victor Company of Japan's business and research centers.
JVC's Digital Image Technology Center began this past Fall with a staff of approximately 50, which includes former Hughes-JVC Technology Corporation employees. The center will form the core of JVC's worldwide projector systems engineering services, and will enhance both projector technology and customer support services. Regional sales offices for JVC's Visual Systems Division will be located in Cyprus Calif., Aurora, Ill., and Wayne, N.J.
With these developments, JVC will be poised to capitalize on the exploding technology display industry. With the consolidation of the renowned JVC and Hughes-JVC brands into one, cohesive brand strategy, and with the market focus that the Visual Systems Division brings to JVC, the company expects to grow its projection display business by over 15 percent in the year 2000. The formation of the Digital Image Technology Center positions JVC as the leader in technological development and innovation for the future.
For more information or to download high-resolution photos, please visit the company's D-ILA media resource page at www.jvc.com/pro/vsd.
JVC Professional Products Company, based in Wayne, N.J., distributes a complete line of broadcast and professional equipment including video projectors, plasma displays, digital cameras, digital VTRs, monitors, and editing products. For more information on the merger of Hughes-JVC and JVC Professional Products Company, contact David Walton at 1-800-JVC-5825 or see the company's web site at http://www.jvc.com/pro.
R&J Integrated Marketing Communications
Barbara Brown, 973/331-1070
JVC Professional Products Company