InFocus Announces Co-Development Agreement With Leading Japanese Consumer Electronics Company; Partners to Develop and Manufacture Innovative and Cost-Effective Projectors
WILSONVILLE, Ore.--(BUSINESS WIRE)--October 9, 2002--InFocus(R) Corporation (Nasdaq:INFS), (OSE:IFC), the worldwide leader in digital projection, and Funai Electric Co., Ltd., a leading Japanese consumer electronics company, today announced a co-development and manufacturing agreement. Under the terms of the agreement, Funai will manufacture a family of innovative and aggressively priced InFocus digital projectors for professional and consumer use. The agreement also includes co-development efforts, combining InFocus' powerful research and engineering capabilities with Funai's cost-effective production expertise.
The alliance, designed to increase the global availability of InFocus products, also extends InFocus' volume leadership position with key component suppliers to further reduce material costs and allows InFocus to remain the low cost producer in the projection industry. The first projectors developed through the agreement will be manufactured in Funai's China facility and available worldwide in the fourth quarter of 2002.
"Leveraging InFocus' volume leadership and technologies with Funai's low-cost manufacturing competency and channel reach is an innovative way for the company to lead global markets and make projectors more affordable," says John V. Harker, Chairman, President and CEO of InFocus Corporation. "Funai is a worldwide leader in the manufacturing and distribution of VCRs, DVD players and printers, and our partnership strengthens InFocus' strategy to effectively compete in the low cost market."
"The partnership with InFocus vastly extends Funai's manufacturing reach into the digital projection market," says Tetsuro Funai, President of Funai Electric Co., Ltd. "The agreement allows InFocus to leverage Funai's supply chain in China for cost-effective and high-value parts, further enhancing InFocus' leadership position in the worldwide projector market."
FUNAI Electric Co., Ltd. (Tokyo & Osaka Stock Exchanges ID Code 6839) is the world's largest volume manufacturer of VHS videocassette recorders (VCRs), TV/VCR combination models and TV/DVD/VCR combination models, and is among the largest manufacturers of DVD players. In the United States, Funai markets the consumer electronic brands of Sylvania, Symphonic, Funai and Emerson and is the manufacturer of one out of every three VCRs sold, one out of every two TV/VCR Combinations and TV/DVD/VCR Combinations sold, and one out of every five DVD players sold. Funai is also a major original equipment manufacturer (OEM) supplier for numerous consumer electronic and computer peripheral companies on a global basis.
About InFocus Corporation
InFocus(R) Corporation (Nasdaq:INFS) (OSE:IFC) is the worldwide leader in digital projection technology and services, including designing, manufacturing and marketing award-winning products for business, government, education and home use. InFocus' digital projectors are essential business tools for collaboration, videoconferencing and visual support and offer the best solution for more effective meetings. The projection industry pioneer provides its global customers the ultimate in reliability with the industry's most comprehensive line of projectors and presentation products. Solutions range from the smallest and lightest mobile projectors to feature-packed meeting room products and large audience installation and integration services. The company's products and services have been recognized for excellence by business and trade publications including BusinessWeek, C/Net, PC World and Wired. InFocus Corporation's global headquarters are located in Wilsonville, Oregon. For more information, visit the InFocus Corporation web site at www.infocus.com or contact the company toll-free at 800.294.6400 (U.S and Canada) or 503.685.8888 worldwide.
About Funai Electric Co., Ltd.
Funai Electric Co. Ltd., founded in 1961, is a leading manufacturer of VCRs, TVs, TV/VCR combinations and computer peripherals. Funai has instituted a worldwide production structure, which includes bases in Japan, Malaysia, China and Thailand, and distributes its products globally under its own brand names and as an OEM supplier of finished products to internationally known consumer electronics companies. The Funai brand has won highly favorable international recognition in various areas for the supply of high-quality innovative electronic products. The company's proprietary Funai Production System has the flexibility to incorporate continuous product improvements and to rapidly adapt to new products. Funai Electric Co., Ltd. was listed in the Tokyo Securities Exchange First Section and the Osaka Securities Exchange First Section in March 2000. Total sales for fiscal 2002 of Funai & it's consolidated subsidiaries were over 236 billion yen.