XM Satellite Radio and Audiovox Introduce the XR9, the Newest Plug-and-Play Satellite Radio
WASHINGTON and HAUPPAUGE, N.Y., Aug. 4, 2004 -- XM Satellite Radio , the nation's leading satellite radio company with more than 2.1 million subscribers, and Audiovox Electronics Corporation, a leading provider of automotive and home audio entertainment, today announced a new satellite radio partnership with the introduction of the Audiovox XR9, the newest plug-and-play satellite radio.
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The XR9 (expected MSRP: $99.99) is the latest Audiovox product for listening to XM Radio and the first plug-and-play Audiovox unit for XM. The XR9 is targeted for the holiday season and expected to ship to retail stores in October.
The sleek, compact XR9 unit is the smallest satellite radio offered by Audiovox, and it has a fit and finish sure to appeal to a wide audience. Features include a large blue backlit LCD display, peripherally located controls and a very low profile. The XR9 has a built-in wireless FM modulator that allows you to listen to XM on any FM radio. The unit can display up to 20 customizable stock quotes. The receiver comes packed with a remote control as a standard accessory.
The XR9 moves easily from the vehicle to the home or office. You can plug the unit in your vehicle with an Audiovox car stereo kit ($69.99 MSRP), and you can listen on your stereo with an Audiovox home kit ($69.99). Audiovox plans to offer additional accessories for the XR9, including a portable boombox, in the months ahead.
"The XR9 is a terrific product that takes advantage of some of XM's newest technologies, including the built-in FM modulator and customized stock quotes," said Daniel Murphy, Senior Vice President of Product Marketing and Distribution for XM Satellite Radio. "We think the design and functionality of the XR9 will be appealing to consumers as we prepare for a very busy holiday season."
"Audiovox has been one of the early product suppliers of XM Satellite Radio and we are excited about the prospects of our new XR9 and growing partnership with XM," said Pat Lavelle, CEO of Audiovox Electronics.
About XM Satellite Radio
XM Satellite Radio is America's #1 satellite radio service with more than 2.1 million subscribers. Broadcasting live daily from studios in Washington, DC, New York City and Nashville, Tennessee at the Country Music Hall of Fame, XM's 2004 lineup includes more than 120 digital channels of choice from coast to coast: 68 commercial-free music channels, featuring hip hop to opera, classical to country, bluegrass to blues; 33 channels of premier sports, talk, comedy, children's and entertainment programming; and more than 20 channels of the most advanced traffic and weather information for major metropolitan areas nationwide. Affordable, compact and stylish XM satellite radio receivers for the home, the car, the computer and boom boxes for "on the go" are available from retailers nationwide. In addition, XM is available in more than 80 different 2004 car models. XM is a popular factory-installed option on more than 40 new General Motors models, as well as a standard feature on several top-selling Honda and Acura models. Passengers on JetBlue Airways and AirTran Airways will be able to listen to XM's programming in-flight later in 2004. This fall, XM will offer XM NavTraffic, a new service that will provide real- time traffic information for vehicle navigation systems. For more information about XM, visit http://www.xmradio.com/.
About Audiovox Electronics Corporation
Audiovox Electronics Corporation (AEC) is a wholly-owned subsidiary of Audiovox Corporation . AEC is a recognized leader in the marketing of automotive entertainment, vehicle security and consumer electronics products. The company is number one in mobile video and places in the top ten of almost every category that it sells. Among the products marketed by AEC are mobile video systems, portable DVD players, flat-panel TV's, auto sound systems including satellite radio, vehicle security, and consumer electronics products such as extended range two-way radios, multi media products like MP 3 players, and home and portable stereos. The company markets its products through an extensive distribution network that includes power retailers, 12 volt specialists, mass merchandisers and an OE sales group. The company markets products under the Audiovox, Jensen, Acoustic Research, Advent, Code Alarm and Prestige brands. For additional information, visit our web site at http://www.audiovox.com/.
Factors that could cause actual results to differ materially from those in the forward-looking statements in this press release include demand for the Company's service, the Company's dependence on technology and third party vendors, its potential need for additional financing, as well as other risks described in XM Satellite Radio Holdings Inc.'s Form 10-K filed with the Securities and Exchange Commission on 3-15-04. Copies of the filing are available upon request from XM Radio' s Investor Relations Department.
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