Company to launch new products this spring
BURNABY, B.C., February 25, 2004 – Icron Technologies Corporation (TSX Venture: IT), a leading provider of high performance digital connectivity technologies, announced an expansion of its technology and product portfolio to address the strongly growing market for digital visual interface (DVI) products.
Icron plans to launch a range of products for customers who are using the DVI interface and for those customers who will make use of products that feature both DVI and USB (Universal Serial Bus) connectivity. The company will build on its growing partnerships with leaders in DVI product development to bring its initial product line to market this spring. Included in Icron’s plans are products that will use Icron’s patented ExtremeUSB® technology for USB extension along with technology that extends digital video connections.
There is emerging demand to make digital content available seamlessly – with PC’s, portable devices, game consoles, audio components and set-top boxes all sharing the same signals. The resulting shift towards plug-and-play components, high-bandwidth connections and the convergence of business and digital entertainment platforms are all factors that will drive market demand for Icron’s products that connect devices within this environment.
The Digital Visual Interface (DVI) is a specification originally developed to digitally connect PCs to flat panel monitors. PCs and PC peripherals, including LCD monitors and business projectors, have been the primary markets for DVI to date. Other devices that connect to PCs are beginning to adopt DVI interfaces as well, including DVD players and plasma displays.
In the next several years, DVI connections will be used in set top boxes, DVD players and DVD recorders. A noted research firm recently reported that, starting from a low sales-base in 2001, over 100% annual growth per year is predicted for DVI-enabled devices through 2006. The same firm forecast that shipments of DVI-enabled devices would grow from 50 million units in 2004 to over 250 million units by 2007.
The DVI connectivity market shares many of the same customers, competitors, cost structure and channels of distribution already present in Icron’s business and will allow Icron to leverage its brand equity, infrastructure and technical resources. Icron’s expertise in extended range digital connectivity technologies drives the company’s product launch and will enhance its future product releases in the DVI market.
Icron’s President and CEO Suresh Singh stated: “Icron is acting on its strategic plan; that is to move into connectivity markets adjacent to our USB base. The digital video connectivity space offers a huge market opportunity. We are moving quickly to add this strong product category that will address broader customer groups who will adopt DVI connectivity in 2004 and beyond.”
Icron Technologies Corporation creates and markets high-performance digital connectivity technologies and products for the computing and visual display markets. The company provides branded and private-label packaged products, Original Equipment Manufacturer (OEM) modules, developer kits, and engineering and development services.
Icron’s technological innovations include its patented ExtremeUSB® technology which touches several large worldwide markets from industrial automation to medical devices, aerospace, computer networking and audio/video.
Icron is a publicly traded Canadian corporation and trades under the symbol “IT” on the TSX Venture Exchange.
For further information, please contact the following:
|Icron Technologies Corporation
|Suresh Singh, President & CEO
|Kevin Lee, Vice President, Sales & Marketing
|Icron Investor Relations
|Cathy Hume, CEO
Cavalcanti Hume Funfer Inc.
|Phone: (403) 541-1225
Fax: (403) 410-7217
Cavalcanti Hume Funfer Inc.
|Phone: (416) 868-1079
Fax: (416) 868-6198
FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all statements in this news release – including, without limitation, statements regarding production estimates and future plans and objectives of Icron – are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.