Audiovox Announces New Lower Pricing on FLO TV(TM) Auto Entertainment Systems
HAUPPAUGE, N.Y., Sept. 22 /PRNewswire/ — Audiovox Corporation (Nasdaq: VOXX) has announced that on September 1, 2010 the Company implemented new lower pricing on both the retail and car dealer FLO TV(TM) Auto Entertainment systems. This move combined with advertising programs from FLO TV Incorporated, a wholly owned subsidiary of Qualcomm Incorporated, clearly indicates the commitment that both companies have to this new product category and should result in a significant impact on sales as retailers and car dealers move into the key holiday selling season.
For the retail channel, the new system hardware price is $199.99 plus installation, which is $200 less than the original launch price. The wholesale price to new car dealers through the Audiovox expediter channel has been significantly reduced as well. Overall consumers will be able to add FLO TV Auto Entertainment to their new or existing in-vehicle entertainment system for a great, low price.
“Making a price move at this juncture makes sense,” said Tom Malone, president of Audiovox Electronics Corporation. “We and our partners at FLO TV are totally committed to the idea of affordable live mobile TV and to finding the price delta that will allow this product to reach what we believe is its explosive potential. As we enter the key holiday selling season, we wanted to make sure that our retail partners were armed with the very best tools to achieve success. This price move along with the current advertising campaign from FLO TV should do just that.”
FLO TV continues to expand both coverage and content. Each quarter, FLO TV enhances existing markets nationwide and adds new sites, further improving America’s largest dedicated mobile TV network. FLO TV is also committed to improving its content line up, having recently added Discovery Mobile, bringing consumers top-rated shows from Discovery Channel, Animal Planet & Science Channel.
Malone concludes, “Right now, there is no other solution available in our industry that provides this level of robust live content in the vehicle at this price. At this price point, we believe adding FLO TV on potentially every video sale is a must have.”
Audiovox is shipping its Advent-branded FLO TV Auto Entertainment to car dealers nationwide and offering Audiovox-branded FLO TV Auto Entertainment at retail.
Audiovox (Nasdaq: VOXX) is a recognized leader in the marketing of automotive entertainment, vehicle security and remote start systems, consumer electronics products and consumer electronics accessories. The company is number one in mobile video and places in the top ten of almost every category that it sells. Among the lines marketed by Audiovox are its mobile electronics products including mobile video systems, FLO TV, Mobile Video + PlayStation 2 systems, auto sound systems including satellite radio, vehicle security and remote start systems; consumer electronics products such as MP3 players, digital camcorders, DVRs, Internet radios, clock radios, portable DVD players, multimedia products like digital picture frames and home and portable stereos; consumer electronics accessories such as indoor/outdoor antennas, connectivity products, headphones, speakers, wireless solutions, remote controls, power & surge protectors and media cleaning & storage devices; EnergizerÃ‚®-branded products for rechargeable batteries and battery packs for camcorders, cordless phones, digital cameras and DVD players, as well as for power supply systems, automatic voltage regulators and surge protectors. The company markets its products through an extensive distribution network that includes power retailers, 12-volt specialist, mass merchandisers and an OE sales group. The company markets products under the Audiovox, RCA, Jensen, Acoustic Research, Energizer, Advent, Code Alarm, TERK, Prestige and SURFACE brands. For additional information, visit our Web site at www.audiovox.com.
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About FLO TV
The FLO TV service combines the best content, an intuitive user interface and a superior multicast network to deliver a true quality TV viewing experience for consumers. FLO TV offers full-length simulcast and time-shifted programming from the world’s best entertainment brands, including ABC Mobile, Adult Swim Mobile, CBS Mobile, CNBC, CNN Mobile, COMEDY CENTRAL, Crackle Movies, Disney Channel, Discovery Mobile, ESPN Mobile TV, FOX Mobile, FOX News Channel, MSNBC, MTV, NBC 2Go, Nickelodeon and UFC. Based in San Diego, Calif., FLO TV Incorporated is a wholly owned subsidiary of Qualcomm Incorporated. Further information is available at www.flotv.com.
Qualcomm is a registered trademark of Qualcomm Incorporated. FLO and FLO TV are trademarks of Qualcomm Incorporated. All other trademarks are the property of their respective owners
Except for historical information contained herein, statements made in this release that would constitute forward-looking statements may involve certain risks and uncertainties. All forward-looking statements made in this release are based on currently available information and the Company assumes no responsibility to update any such forward-looking statement. The following factors, among others, may cause actual results to differ materially from the results suggested in the forward-looking statements. The factors include, but are not limited to, risks that may result from changes in the Company’s business operations; our ability to keep pace with technological advances; significant competition in the mobile and consumer electronics businesses as well as the wireless business; our relationships with key suppliers and customers; quality and consumer acceptance of newly introduced products; market volatility; non-availability of product; excess inventory; price and product competition; new product introductions; the possibility that the review of our prior filings by the SEC may result in changes to our financial statements; and the possibility that stockholders or regulatory authorities may initiate proceedings against Audiovox and/or our officers and directors as a result of any restatements. Risk factors associated with our business, including some of the facts set forth herein, are detailed in the Company’s Form 10-K for the fiscal year ended February 28, 2009 and in its most recent Form 10-Q filing with the Securities and Exchange Commission.
Audiovox Contact: Investor Relations: ----------------- ------------------- Jeremy Stoehr Glenn Wiener, GWC Communications Tel: 1-631-436-6371 Tel: 212-786-6011 email@example.com gwiener@GWCco.com
SOURCE Audiovox Corporation