7/17/2002 - Cirrus Logic, Inc. (NASDAQ: CRUS) today announced a portable audio design win with iRiver that establishes Cirrus as an early leader and innovator in the CD-based MP3 player space – an exploding digital entertainment category that is building marketplace momentum by creating convenient and inexpensive new ways to store, carry and enjoy multiple hours of digital music.
Cirrus’ EP7312 processor provides powerful performance and rich functionality for iRiver’s award-winning SlimX iMP-350, which is the world’s slimmest CD-based MP3 player. Measuring just 16.7mm thick, the SlimX offers up to 23 hours of music on a single CD when using such popular music formats as MP3, ASF and the Microsoft WMA digital audio content standard.
“The groundbreaking SlimX product is a great example of why consumers are rapidly adopting CD-based MP3 players for portable music,” said Lew Paceley, marketing vice president, Crystal Products Division, Cirrus Logic. “Consumers like the fact that they can burn more than 250 of their songs on a lightweight, inexpensive CD-R. Now that manufacturers like iRiver are bringing ultra-thin CD-based MP3 players to market, consumers have an easy new way to use and enjoy their digital music collections wherever they go.”
Research firm IDC forecasts that U.S. shipments of CD-based MP3 players will surpass those of every other portable compressed audio player category in 2002, and will grow from over 1 million units in 2001 to surpass 18 million units in 2006, representing a compound annual growth rate of 77 percent. “Compressed audio CD players offer an extremely cost-effective way for consumers to enjoy music away from a PC,” said IDC Research Analyst Susan Kevorkian. “Competitive device price points plus inexpensive storage media are a winning combination.”
Cirrus’ EP7312 processor enables the rich functionality that has generated rave reviews from consumers and reviewers alike – from its outstanding audio quality to the easy-to-use remote control and stunning good looks. In recent months the SlimX has been named a CNET “Top 10 Winter Wonder” and given editors’ choice awards from CNET, ZDNet, PC Magazine and Computer Gaming World. “iRiver’s mission to provide consumers listening and recording flexibility that mirrors their lifestyles is further enhanced due to our relationship with Cirrus Logic,” said John Kim, President, iRiver America. “Cirrus’ EP7312 played a significant role in our ability to deliver a world-class audio product that has grabbed the attention of the industry.”
The SlimX player utilizes the highly integrated architecture of Cirrus’ EP7312 to offer an exceptional portable entertainment device. The EP7312’s low power requirements help the SlimX deliver 23 hours of playback using just two NiMH rechargeable batteries and two AA batteries. Additionally, the advanced audio content processing capabilities of the EP7312 enable the player to support playback of multiple digital music formats including MP3, WMA and ASF.
The SlimX is available from major distributors including Amazon.com, Micro Warehouse, Good Guys and Brand Mart.
About Cirrus Logic
Cirrus Logic is a premier supplier of high-performance analog and DSP chip solutions for consumer entertainment electronics that allow people to see, hear, connect, and enjoy digital entertainment. Building on its global market share leadership in audio integrated circuits and its rich mixed-signal patent portfolio, the company targets mainstream audio, video and Internet entertainment applications in the consumer entertainment market. Cirrus Logic operates from headquarters in Austin, Texas and major sites located in Fremont and El Dorado Hills, Calif., Broomfield and Boulder, Colorado, as well as offices in Europe, Japan and Asia. More information about Cirrus Logic is available at www.cirrus.com
Safe Harbor Provision Except for historical information contained herein, the matters set forth in this news release are forward-looking statements that are dependent on certain risks and uncertainties including such factors, among others, as the ability of the Cirrus Logic EP7312 to perform as expected, the risk factors listed in the company's Form 10-K for the year ended March 31, 2002, and in other filings with the Securities and Exchange Commission. The foregoing information concerning Cirrus Logic's business outlook represents our outlook as of the date of this news release, and Cirrus Logic undertakes no obligation to update or revise any forward-looking statements, whether as a result of new developments or otherwise, except as required by law.
Cirrus Logic is a registered trademark of Cirrus Logic Inc. All other product names noted herein may be trademarks of their respective holders.
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