e.Digital Corp. Announces Development and Manufacturing Agreement With Eclipse by Fujitsu Ten
SAN DIEGO--March 6, 2002--e.Digital to Design, Develop, Manufacture, and Deliver Eclipse-Branded
Products for Automotive Infotainment and Telematics Systems
e.Digital Corp. (OTCBB:EDIG), a global provider of comprehensive digital product development and designs, announced today that it has signed a development and manufacturing agreement with Eclipse by Fujitsu Ten.
Under the agreement, e.Digital will receive non-recurring engineering (NRE) fees for design and development services. Additionally, e.Digital will receive revenues for the manufacture and delivery of Eclipse-branded audio products for the automotive infotainment and telematics market.
Steve Ferguson, vice president of sales and marketing of e.Digital, stated, "We are very excited about this opportunity to design Eclipse-branded products by integrating the latest in automotive infotainment and telematics into a system using our MicroOS(TM) and other technologies. We are integrating information, communication, and entertainment into a sophisticated, easy-to-use system."
Jim Collier, president and chief operating officer of e.Digital, said, "This agreement represents a key step in our plans to move aggressively into the fast-growing OEM, ODM and aftermarket automotive telematics industry. It also provides a technology foundation that will accelerate our expansion into what is potentially the fastest growing market since the PC. In addition to technology development e.Digital will design and manufacture these high-end products."
Eclipse by Fujitsu Ten automotive audio and infotainment products and technology received prestigious Audio Sound Grand Prix Awards in 2000 and 2001. Eclipse is the fastest growing brand in the car stereo world.
Both companies unveiled the Eclipse MP-3 Changer at the International Consumer Electronics Show in Las Vegas early this year. Manufacturing and delivery of products to Eclipse by Fujitsu Ten are planned for the third calendar quarter this year. Eclipse-branded products will be sold to consumers through their established distribution channels.
About Eclipse by Fujitsu Ten
For more information on the company and its products, visit www.eclipse-web.com.
About e.Digital
e.Digital Corp. offers an engineering partnership for the world's leading electronics companies to link portable digital devices to PCs and the Internet. e.Digital develops and markets to consumer electronics manufacturers complete end-to-end solutions for delivery and management of open and secure digital media with a focus on music players/recorders and portable digital voice recorders. Engineering services range from the licensing of e.Digital's patented MicroOS(TM) file management system to custom software and hardware development, industrial design and manufacturing services. For more information on the company, visit www.edig.com.
Safe Harbor statement under the Private Securities Litigation Reform of 1995: This document contains forward-looking statements relating to future performance, technology and product development that may affect future results and the future viability of the company. Actual results could be affected or differ materially from those projected in the forward-looking statements as a result of risks and uncertainties, including future products and results, technological shifts, potential technical difficulties that could delay new products, competition, general economic factors, and conditions in the markets in which the company operates, pricing pressures, the uncertainty of market acceptance of new products and services by OEM's and end-user customers, and other factors identified and discussed in the Company's most recent filings with the Securities and Exchange Commission. These forward-looking statements are based on information and management's expectations as of the date hereof. Future results may differ materially from the company's current expectations.
Editors Note: e.Digital and MicroOS are trademarks of e.Digital Corp. All other company, product, and service names are the property of their respective owners.