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Delphi Achieves New Milestone: 15 Million Satellite Receivers Shipped to Retailers and Automakers

Posted on: Tuesday, 24 July 2007, 09:23 CDT

Delphi Corp. (PINKSHEETS: DPHIQ) confirmed today it has now shipped more than 15 million satellite receivers to retailers and vehicle manufacturers. The milestone, achieved just six years after Delphi introduced the first satellite radio receiver, coincides with the company's current efforts to support expanded in-vehicle satellite content.

"Crossing the 15 million mark reaffirms Delphi's leadership role in the development of mobile satellite infotainment," said Ken Erickson, lead executive for Delphi's Entertainment & Communications product business unit. "In just a few years, Delphi hardware helped satellite radio grow from an emerging niche media to become an option available on more than 60 percent of new vehicles sold in the U.S."

"We're now applying our know-how to support expanded mobile satellite content, including video," Erickson added. "And, the same creativity and market knowledge drive Delphi's work on other entertainment and communications products, such as telematics."

Delphi introduced factory-installed satellite radio receivers to the automotive market in the U.S. in 2001 and launched the first retail mobile satellite receiver in 2002. The service was launched in Canada in 2005. Today, the company produces receivers for more than 10 vehicle manufacturers, supporting both XM and SIRIUS satellite radio services. Among retail consumers, the Delphi name has become synonymous with satellite radio through the XM Satellite Radio plug-and-play receivers and accessories: Delphi SKYFi, MyFi and ROADY radio family.

"Delphi continues to innovate in the portable satellite radio market by introducing more versatility into its products," said Max Rogers, lead executive for Delphi's Consumer Electronics product business unit. "Used in the car, at home or on the go, our new SKYFi3 XM satellite radio receiver expands its use with features like an SD card for mp3 storage and a kit for seamless connection to a Bose Sound System."

Satellite radio offers nearly 15 million subscribers hundreds of channels of music, news, sports, comedy, entertainment and talk radio. In addition to digital-quality broadcast, satellite radio provides many commercial-free channels and the ability to receive the same media channel across the entire U.S.

The latest first -- in-vehicle satellite video

Earlier this year, Delphi announced it was selected to provide the hardware that will enable the Chrysler Group to be the first and only vehicle manufacturer to offer SIRIUS Backseat TV(TM), the next wave of in-car entertainment, in its vehicle lineup in the 2008 model year.

This hardware supports the next wave of entertainment coming into the vehicle. Using the same spectrum allocation as satellite radio, a digital audio and video signal is sent to the vehicle, providing alternative entertainment options for passengers with three channels of TV programming.

Seven decades of in-vehicle entertainment leadership

Delphi manufactured the first in-dash car radio in 1936. Since then, the company has produced more than 276 million audio systems for customers that include virtually every vehicle manufacturer worldwide. Delphi's entertainment and communications portfolio includes advanced reception systems, digital receivers, integrated premium acoustics, navigation systems, rear-seat entertainment, and telematics.

"Delphi's unparalleled understanding of the vehicle environment enables us to give consumers the performance and convenience they demand," said Erickson. "At the same time, our industry leadership allows us to deliver high-quality, cost-effective solutions that create value for both automakers and satellite content providers."

For more information about Delphi (PINKSHEETS: DPHIQ), visit www.delphi.com.

FORWARD-LOOKING STATEMENT

This press release, as well as other statements made by Delphi may contain forward-looking statements, that reflect, when made, the Company's current views with respect to current events and financial performance. Such forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the Company's operations and business environment which may cause the actual results of the Company to be materially different from any future results, express or implied, by such forward-looking statements. In some cases, you can identify these statements by forward-looking words such as "may,""might,""will,""should,""expects,""plans,""anticipates,""believes,""estimates,""predicts,""potential" or "continue," the negative of these terms and other comparable terminology. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: the ability of the Company to continue as a going concern; the ability of the Company to operate pursuant to the terms of the debtor-in-possession financing facility; the terms of any reorganization plan ultimately confirmed; the Company's ability to obtain Court approval with respect to motions in the chapter 11 cases prosecuted by it from time to time; the ability of the Company to develop, prosecute, confirm and consummate one or more plans of reorganization with respect to the chapter 11 cases; the Company's ability to satisfy the terms and conditions of the Equity Purchase and Commitment Agreement (including the Company's ability to achieve consensual agreements with GM and its U.S. labor unions on a timely basis that are acceptable to the Plan Investors in their sole discretion); the Company's ability to satisfy the terms and conditions of the Plan Framework Support Agreement; risks associated with third parties seeking and obtaining Court approval to terminate or shorten the exclusivity period for the Company to propose and confirm one or more plans of reorganization, for the appointment of a chapter 11 trustee or to convert the cases to chapter 7 cases; the ability of the Company to obtain and maintain normal terms with vendors and service providers; the Company's ability to maintain contracts that are critical to its operations; the potential adverse impact of the chapter 11 cases on the Company's liquidity or results of operations; the ability of the Company to fund and execute its business plan (including the transformation plan described in Note 2, Transformation Plan and Chapter 11 Bankruptcy, of our Annual Report on Form 10-K for the year ended December 31, 2006) and to do so in a timely manner; the ability of the Company to attract, motivate and/or retain key executives and associates; the ability of the Company to avoid or continue to operate during a strike, or partial work stoppage or slow down by any of its unionized employees and the ability of the Company to attract and retain customers. Additional factors that could affect future results are identified in the Annual Report on Form 10-K for the year ended December 31, 2006, including the risk factors in Part I, Item 1A. Risk Factors, contained therein. Delphi disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events and/or otherwise.

Similarly, these and other factors, including the terms of any reorganization plan ultimately confirmed, can affect the value of the Company's various prepetition liabilities, common stock and/or other equity securities. Additionally, no assurance can be given as to what values, if any, will be ascribed in the bankruptcy cases to each of these constituencies. A plan of reorganization could result in holders of Delphi's common stock receiving no distribution on account of their interest and cancellation of their interests. In addition, under certain conditions specified in the Bankruptcy Code, a plan of reorganization may be confirmed notwithstanding its rejection by an impaired class of creditors or equity holders and notwithstanding the fact that equity holders do not receive or retain property on account of their equity interests under the plan. In light of the foregoing, the Company considers the value of the common stock to be highly speculative and cautions equity holders that the stock may ultimately be determined to have no value. Accordingly, the Company urges that appropriate caution be exercised with respect to existing and future investments in Delphi's common stock or other equity interests or any claims relating to prepetition liabilities.

 Contact: Milton Beach (765) 451-0655  

SOURCE: Delphi Corporation

Source: MARKET WIRE

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