NeoMagic's MiMagic 6+ Processor Selected for Multimedia Enabled GPS Navigation System From Freenex, Inc.
December 13 2006 - 8:30AM
PR Newswire (US)
SANTA CLARA, Calif., Dec. 13 /PRNewswire-FirstCall/ -- NeoMagic
Corporation (NASDAQ:NMGC) announced today that Freenex, Inc. has
selected NeoMagic's MiMagic 6+ multimedia processor for its
multimedia enabled GPS navigation system. This navigation system is
targeted at the automotive market and includes an exterior
rear-mounted camera and an interior LCD display device for GPS
navigation and video playback. The addition of the camera to the
system helps drivers avoid collisions while moving in reverse. "In
the Freenex GPS navigation system, the MiMagic 6+ processor is the
system host that receives data from a GPS receiver and runs the
mapping software," said Doug Young, President and CEO of NeoMagic
Corporation. "Additionally, the MiMagic 6+ processor can support
many multimedia features, including still image capture, video
record and playback, digital mobile TV and 3D graphics. The MiMagic
6+ processor supports the combination of these multimedia features
with GPS navigation capability to enable innovative designs for the
rapidly growing GPS navigation market," he continued. "The ability
to combine multimedia features in a GPS navigation system using a
single processor enables us to add key differentiating features
without adding cost to the end-system. The MiMagic 6+ processor
allows us to continue to bring new innovative GPS products to the
market at a mass-market price-point," said Mr. Paul Jang, R&D
Team Director of Freenex, Inc. About NeoMagic NeoMagic Corporation
delivers semiconductor chips and software that provide mobile
solutions that enable new multimedia features for handheld devices.
These solutions offer low-power consumption, small form-factor and
high performance processing. The Company demonstrated one of the
first solutions used for H.264 video decoding in a mobile digital
TV phone, and is developing and delivering solutions for
audio/video processing of the dominant mobile digital TV standards,
including ISDB-T, DMB, and DVB-H. For its complete system solution,
NeoMagic delivers a suite of middleware and sample applications for
imaging, video and audio functionality, and provides multiple
operating system ports with customized drivers for the MiMagic
product family. NeoMagic has a patent portfolio of over 25 patents
that cover NeoMagic's proprietary array processing technology,
embedded DRAM and other technology. Information on the Company may
be found on the World Wide Web at http://www.neomagic.com/ . About
Freenex, Inc. Freenex, Inc. delivers innovative products for the
automotive telematics market segment. These products combine car
navigation, multimedia and entertainment features into a single
device. Freenex ships telematics products in Europe, Southeast
Asia, South America and North America. Freenex, Inc. was founded in
2002 and is currently headquartered in Seoul, South Korea.
Information on the Company may be found on the World Wide Web at
http://www.freenex.com/ . This press release contains
forward-looking statements within the meaning of the Securities Act
of 1933 and the Securities Exchange Act of 1934, including the
Company's plans to continue shipping products to Freenex, Inc.
These forward-looking statements reflect current expectations.
However, actual events and results could vary significantly based
on a variety of factors including but not limited to the market
acceptance of Freenex, Inc.'s products. Freenex, Inc. does not have
a contract with the Company that specifies a minimum level of
purchases. In addition, Freenex, Inc. could stop purchasing
products from the Company at any time or switch to other vendors.
Additional risks that could affect the Company's future operating
results are more fully described in the Company's most recent
annual report, its most recent quarterly report and other filings
with the United States Securities and Exchange Commission (SEC),
and are available online at http://www.sec.gov/. NeoMagic may, from
time to time, make additional written or oral forward- looking
statements, including statements contained in filings with the SEC
and reports to shareholders. NeoMagic does not undertake the
obligation to update any forward-looking statements that may be
made by or on behalf of the company, except as may be required by
law. NOTE: NeoMagic, and the NeoMagic circle logo are registered
trademarks, and MiMagic is a trademark, of NeoMagic Corporation.
All other trademarks are the property of their respective owners.
NeoMagic disclaims any proprietary interest in the marks and names
of others. (Logo:
http://www.newscom.com/cgi-bin/prnh/20020802/NMGCLOGO )
http://www.newscom.com/cgi-bin/prnh/20020802/NMGCLOGO
http://photoarchive.ap.org/ DATASOURCE: NeoMagic Corporation
CONTACT: Scott Sullinger, Chief Financial Officer, NeoMagic
Corporation, +1-408-988-7020; or Erica Mannion of Sapphire Investor
Relations, LLC, +1-212-766-1800 Web site: http://www.neomagic.com/
http://www.freenex.com/
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