Vestel Unveils an Exciting New Line-Up of Powered by TiVo™ Smart TVs at CES 2023

Rhea-AI Summary

Xperi Inc. (XPER) has announced a significant partnership with Vestel, one of Europe's leading TV manufacturers. This multi-year agreement will see Powered by TiVo™ smart TVs shipped to markets including the UK, Germany, France, Italy, Spain, and Turkey as early as spring 2023. The TVs will leverage TiVo OS, providing consumers enhanced content discovery and personalized experiences. This partnership positions Xperi to expand its reach in the competitive smart TV market, benefiting from Vestel's extensive distribution network.

Positive

• Partnership with Vestel expands Xperi's market presence in Europe.
• Powered by TiVo smart TVs enhance content discovery for consumers.
• Incorporation of TiVo+ offers access to over 160 free channels.

Negative

• None.

First Powered by TiVo Smart TVs Expected to Ship as Early as Spring 2023 Under the Brands Vestel, Daewoo, Regal, Hitachi, Telefunken and JVC, among others

SAN JOSE, Calif.--(BUSINESS WIRE)-- TiVo, the company that brings entertainment together, and a wholly-owned subsidiary of Xperi Inc. (XPER: NYSE), and Vestel, one of the top three European TV manufacturers, today announced that as part of a multi-year, multi-country and multi-million-unit agreement, the first Powered by TiVo™ smart TVs are expected to ship as early as spring 2023 featuring chipsets from MediaTek, a global fabless semiconductor company that enables more than two billion connected devices a year. When released, consumers in the United Kingdom, France, Germany, Italy, Spain and Turkey will be able to purchase Powered by TiVo smart TVs under brands including Vestel, Daewoo, Regal, Hitachi, Telefunken and JVC.

A first for the company, Xperi announced its new independent media platform at IFA 2022 and welcomed Vestel as its first original equipment manufacturer (OEM) partner. Vestel will be utilizing the new TiVo OS, a first-of-its-kind neutral platform, aimed at giving OEMs significantly more control over the user experience to drive brand awareness, engagement and monetization at scale. Without the limitations of a closed system, the neutral platform returns control to consumers, empowering them to enjoy entertainment on their terms, for the ultimate home entertainment experience.

“At Xperi, we have built a platform that can deliver better viewer engagement with an unbiased, content-first user experience, where Live Hybrid TV and streaming services fully integrate in a personalized way that makes it easy to find, watch and enjoy content across siloed ecosystems,” said Jon Kirchner, chief executive officer, Xperi. “Unlike existing platforms, which are largely built around walled gardens, we enable TV OEMs to brand the experience, retain customer ownership and participate in the long-term CTV monetization throughout the lifecycle of TV ownership. We are pleased to partner with Vestel to bring smart TVs to market that enable consumers to cut through the clutter of streaming and linear content options with a simplified, universal discovery.”

Vestel’s new line of TVs use Powered by TiVo OS, a streamlined smart TV platform with easy content discovery and personalized recommendations. It provides a simple set-up and intuitive user experience, enabling consumers the choice and the control to discover content across their favorite streaming apps. At the forefront of innovation, Vestel’s new Powered by TiVo platform offers the latest technologies with best-in-class voice navigation and uniquely customizable ways to enjoy TV.

“As the number of available video services continues to increase, content discovery remains a top pain point for consumers when searching across different video content services,” said Turan Erdoğan, chief executive officer, Vestel. “We’re excited to partner with a company that shares our customer first values and to introduce our new line of Powered by TiVo smart TVs to provide consumers the experience they want.”

TiVo OS will also incorporate TiVo+, a free content network that provides consumers access to more than 160+ free channels and 100,000 hours’ worth of content. Stingray is a strong addition to the content lineup now available on a global basis for TiVo OS and beyond - adding 26 channels from Stingray to the TiVo+ content network.

“Stingray is very pleased to be a launch partner with TiVo and Vestel as part of this dynamic platform. The breakthrough TiVo user experience makes our premium music and lifestyle content more accessible to our viewers. Discovery has never been simpler, and recommendations put the right content in front of the right audience,” said David Purdy, chief revenue officer of Stingray. “In a world of increased streaming services, TiVo delivers content in a personal way to consumers so the experience is about what they like and what they will discover next.”

For more information on Powered by TiVo smart TVs, visit https://business.tivo.com/products-solutions/stream.

Safe Harbor Statement

This press release contains “forward-looking statements” within the meaning of the federal securities laws. These forward-looking statements are based on information available to Xperi as of the date hereof, as well as Xperi’s current expectations that involve risks and uncertainties. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause Xperi’s actual results, performance, or achievements to be materially different from those expressed or implied by the forward-looking statements. These statements include but are not limited to those related to the availability, features, benefits, functionality, attributes, and timing of release of Xperi’s products and related services. These risks, as well as other risks associated with the business, are more fully discussed in Xperi’s filings with the U.S. Securities and Exchange Commission (“SEC”), including Xperi’s Registration Statement on Form 10 filed in connection with the spin-off.

About Xperi Inc.

Xperi invents, develops, and delivers technologies that enable extraordinary experiences. Xperi technologies, delivered via its brands (DTS®, HD Radio™, TiVo®), and by its startup, Perceive, and IMAX Enhanced®, an IMAX and DTS partnership, are integrated into billions of consumer devices and media platforms worldwide, powering smart devices, connected cars and entertainment experiences. Xperi has created a unified ecosystem that reaches highly engaged consumers driving increased value for partners, customers and consumers.

Xperi, DTS, HD Radio, Perceive, TiVo, and their respective logos are trademarks or registered trademarks of Xperi Inc. or affiliated companies in the United States and other countries. All other company, brand and product names may be trademarks or registered trademarks of their respective companies.

About Vestel

Comprised of 24 companies, Vestel Group is a multi-industry manufacturer that operates in consumer electronics, major domestic appliances, professional displays, automotive and battery solutions and EV chargers. A testament to the global importance of Zorlu Holding across multiple technology sectors, Vestel is not only thriving at home in Turkey, but also through a further 14 subsidiaries that have been set up in various other parts of the world. Thanks to its renowned manufacturing and R&D complex, Vestel exports to 158 countries and keeps its position as a global player. For more information visit: www.vestelinternational.com

XPER-P

View source version on businesswire.com: https://www.businesswire.com/news/home/20230104005382/en/

Allyse Sanchez

Xperi, Director of Communications

Allyse.sanchez@xperi.com

Source: Xperi Inc

FAQ

What is the significance of the partnership between Xperi (XPER) and Vestel?

The partnership aims to deliver Powered by TiVo smart TVs to several European countries, enhancing consumer experiences and expanding Xperi's market presence.

When are the Powered by TiVo smart TVs expected to ship?

The smart TVs are expected to ship as early as spring 2023.

Which countries will receive the Powered by TiVo smart TVs?

The smart TVs will be available in the UK, Germany, France, Italy, Spain, and Turkey.

What features will the Powered by TiVo smart TVs include?

They will feature TiVo OS for improved content discovery and integration of TiVo+, providing access to more than 160 free channels.