BEIJING, April 28, 2016 /PRNewswire/ -- China Digital TV
Holdings co., Ltd. (NYSE: STV) ("China Digital TV" or the
"Company"), the leading provider of cloud-based application
platforms and conditional access ("CA") systems which enable
China's digital cable television
market to offer and secure diversified content services,and Hubei
Radio & Television Information Network (SZSE: 000665) ("Hubei Radio & Television"), a
state-owned company engaged in the planning, design, construction,
management, operation, development and application of radio and TV
information networks in Hubei
province, today announced that they have signed a Strategic
Cooperation Agreement to develop and promote Virtual Reality
solutions for household TV subscribers in China's Hubei
Province.
With the rapid development of virtual technology, virtual
reality ("VR") and augmented reality ("AR") are beginning to make
their way into people's everyday lives. As an entirely new display
technology, VR has the potential to disrupt many industries and
revolutionize the way people consume content, play video games,
compute, learn and interact. Recognizing this immense opportunity,
the Company and Hubei Radio & Television will pool resources
and leverage their strategic advantages to develop VR technologies,
and deploy an integrated VR ecosystem. Under the agreement, China
Digital TV will provide technical services related to the research
and development of VR technologies and the establishment of the
integrated VR platform; while Hubei Radio & Television will
assume responsibility for the planning, construction and operation
of the VR platform. Ultimately, the two parties plan to leverage
their combined resources and expertise to introduce the end-to-end
VR technology and platform to digital TV subscribers in
Hubei for household
consumption.
About China Digital TV
Founded in 2004, China Digital TV enables television network
operators to manage, extend and diversify content services across
households and public areas in China. China Digital TV is the leading
provider of cloud-based application platforms and network
broadcasting platform services to Chinese cable operators, helping
them to effectively bring mobile gaming apps and other
entertainment options to household television sets, and extend
cable programming outside the home to any mobile device. China
Digital TV is also the leading provider of CA systems in
China's digital television market.
CA systems enable television network operators to secure the
delivery of content to their subscribers. The Company cooperates
with nearly all of China's cable
television operators.
For more information please visit the Investor Relations section
of China Digital TV's website at http://ir.chinadtv.cn.
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of Section 27A of the United States Securities Act of 1933,
as amended, and Section 21E of the United States Securities
Exchange Act of 1934, as amended. Such forward-looking
statements are made under the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995.
These forward-looking statements can be identified by
terminology such as "will", "expects", "anticipates", "future",
"intends", "plans", "believes", "estimates", "may", "should" and
similar expressions. China Digital TV may also make forward-looking
statements in its periodic reports filed with the Securities and
Exchange Commission, in its annual report to shareholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. Statements
that are not historical facts, including statements about China
Digital TV's beliefs and expectations, are forward-looking
statements. Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from projections contained or implied in any
forward-looking statement, including but not limited to the
following: competition in the CA systems, digital television, cable
television and related industries in the PRC and the impact of such
competition on prices, our ability to implement our business
strategies, changes in technology, the progress of the television
digitalization in the PRC, the structure of the cable television
industry or television viewer preferences, changes in PRC laws,
regulations or policies with respect to the CA systems, digital
television, cable television and related industries, including the
extent of non-PRC companies' participation in such industries, and
changes in political, economic, legal and social conditions in the
PRC, including the government's policies with respect to economic
growth, foreign exchange and foreign investment.
Further information regarding these and other risks and
uncertainties is included in our annual report on Form 20-F and
other documents filed with the Securities and Exchange Commission.
China Digital TV does not assume any obligation to update any
forward-looking statements, which apply only as of the date of this
press release.
For investor and media inquiries, please contact:
China Digital TV Holding Co., Ltd.
Nan Hao
Investor Relations Manager
Tel: +86-10-6297-1199 x 9780
Email: ir@chinadtv.cn
ICR, Inc.
Charles Eveslage
Tel: +1 (646) 328-1950
Email: stv@icrinc.com
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SOURCE China Digital TV Holding Co., Ltd.