Semiconductor Industry Leader Among Growing List of Electronics Manufacturers In Support of the DVD+RW Backwards Compatible, Re-Writable Digital Recording Format
SUNNYVALE, Calif., May 25 /PRNewswire/ -- Oak Technology, Inc. announced today that it has joined the DVD+RW (Digital Versatile Disk plus Re-Writable) Alliance. The alliance is a voluntary group of industry-leading personal computing manufacturers, optical storage and electronics manufacturers dedicated to developing and promoting a universally compatible, rewritable DVD format to enable convergence between personal computing and consumer electronics products.
In joining the alliance, Oak Technology agrees to market, develop and produce DVD+RW components in the 2001-2002 time frame and to lend its name and logo to promotional materials related to the new recording format.
"Oak Technology recognizes that the DVD+RW format is an extremely versatile and attractive technology due to its backwards compatibility to consumer DVD and DVD-ROM as well as CD and CD-ROM," said Shlomo Waser, senior vice president and general manager of Oak's Optical Storage Group (OSG). "We are joining the alliance to demonstrate our support for the format, which is one of several popular DVD recordable formats that will be supported by our optical storage controller technology."
Oak Technology is currently developing DVD recordable controller solutions that will support all of the major DVD recording formats, including DVD+RW, DVD-RW, DVD-R, and DVD-RAM.
The DVD+RW recordable DVD format is capable of recording up to 4.7 Gigabytes of video images or data, which corresponds to the storage capacity of seven CDs. Discs will also be capable of recording thousands of photographs, tens of hours of music in MP3, or about two hours of film with DVD-like picture quality equivalent to or better than a VCR recorder. Long Play recording mode will provide four hours of film recording with reduced picture quality. According to the Alliance, the primary benefit of DVD+RW is that it offers two-way compatibility, meaning that DVD+RW media can be played in DVD-Video players and DVD-ROM drives, and can play CDs and CD-ROMs. In addition, the DVD+RW format supports write once DVD+R capability. DVD+RW media is compatible with most of the current installed base of DVD-Video players and DVD-ROM drives currently in use throughout home and business environments.
To date, more than 30 other companies have also expressed their support for the DVD+RW format. Details of the DVD+RW Alliance and supporting companies can be found at the DVD+RW website ( http://www.dvdrw.com/ ).
Oak's Optical Storage Controller Technology
Oak, founded in 1987, has established a leadership position in the optical storage segment. The Company is recognized as one of the leading suppliers of optical storage controllers, having sold more than 130 million optical storage controllers to date. The Company's recent product development efforts in the area have focused on emerging segments, such as CD-RW and Combo drives as well as DVD recordable solutions.
Oak's latest generation of advanced CD-RW optical storage controllers have been selected by most of the OEM suppliers of CD-RW drives. In addition, in late 2000, Oak introduced one of the industry's first integrated Compact Disc - ReWritable (CD-RW)/DVD "Combo" controllers, which allows optical storage drive manufacturers to develop high-performance optical storage solutions capable of reading and writing Compact Discs and reading DVD discs from a single slim line drive.
About Oak Technology
Oak Technology, Inc., a leading provider of solutions for the storage, manipulation and distribution of digital content, is committed to driving the emerging world of connected Information Appliances. The company's fully integrated products and technologies target two key markets: optical storage (CD-RW and DVD for PC and consumer) and digital imaging (advanced copiers, printers, faxes, scanners and MFPs). Founded in 1987, Oak is headquartered in Sunnyvale, Calif., and has sales offices, design centers and research facilities around the world. The company trades on the Nasdaq Stock Exchange under the symbol OAKT. Additional information about Oak and its digital solutions can be found at www.oaktech.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: In addition to the historical information contained herein, statements in this press release may contain forward-looking statements within the meaning of the Federal securities laws and are subject to the safe harbors created thereby. Forward-looking statements herein include but not limited to the strength of the company's fundamental position, the company's belief in the industry-wide nature of the current slowdown, the short-term nature of the transition period, and the outlook for financial performance for the current quarter and beyond. These statements involve risks and uncertainties and may differ materially from actual future events or results. The following are among the factors that could cause actual outcome to differ materially from those set forth: without limitation, the rate of adoption of new technology, the rate of growth of the CD-RW market, changes in product mix or distribution channels; the demand for semiconductors and end-user products that incorporate semiconductors; technological difficulties and resource constraints encountered in developing and/or introducing new products, and market acceptance of new products. Forward-looking statements contained in this press release regarding expected financial results, industry trends, sales and future product development and business strategies and activities should be considered in light of these factors, and those factors discussed from time to time the Company's public reports filed with the Securities and Exchange Commission, such as those discussed in the Company's Annual Report on Form 10K for fiscal year ending June 30, 2000, and in quarterly reports on Form 10Q.
NOTE: Oak Technology is a registered trademark of Oak Technology, Inc. and the Oak logo is a common law trademark of Oak Technology, Inc. All others are trademarks of their respective owners.
SOURCE: Oak Technology, Inc.