San Diego, CA – October 8, 2015 – Turtle Beach
Corporation (NASDAQ: HEAR), the leading-edge audio technology company and #1
in gaming audio, today announced the Company’s strategic partnership with Hon
Hai Precision Industry Ltd., also known as Foxconn
Technology Group (“Foxconn”), the world’s largest contract manufacturer of
electronic products and components.
Under the partnership which began late last year, Foxconn is now fully
up-and-running manufacturing Turtle Beach’s lineup of high-quality gaming
headsets, as well as the Company’s first-of-its-kind hearing healthcare product
for people with hearing loss, HyperSound
Clear™, at their facilities in China and Mexico.
“This is a substantial step in our operational transformation, designed
to increase agility, visibility and consistency at the front end of our supply
chain network,” said Robert Andris, Senior Vice President of Global Supply
Chain Operations, Turtle Beach Corporation. “Adding Foxconn as a key global
manufacturing partner, in conjunction with our recently
announced global logistics partnership with Keuhne + Nagel – two of the
best in the business in their respective fields – frames our supply chain
development strategy, which is designed to support Turtle Beach’s market
expansion as we manage costs, optimize inventory and maintain superior product
quality.”
“We are excited to be selected as a strategic partner to Turtle Beach, a
company known for their innovative, technology-driven products and global
leadership in gaming audio,” said Mark Chien, Senior Executive Vice President, Foxconn.
“We look forward to leveraging our strong expertise in high-quality consumer
electronics manufacturing to deliver their groundbreaking HyperSound Clear product to consumers later this year.”
“We’re continuing to enhance our global supply chain operations to
support corporate objectives for our gaming headset business and products based
on our innovative HyperSound®
technology” said Juergen Stark, CEO, Turtle Beach Corporation. “Partnering with
Foxconn allows us to continue development of our market-leading audio technologies
while leveraging their world-class electronics manufacturing capabilities and
global footprint.”
Turtle Beach continues to bring its patented, innovative products to market. This
year the Company has already launched a variety of new, high-quality gaming
headsets, including its top-of-the-line, 100% fully wireless Xbox One gaming
headset – the Turtle Beach Elite 800X,
with a handful more gaming headsets planned to enter the market leading into
the holidays. Additionally, HyperSound
Clear – which has been shown to
improve sound clarity and speech intelligibility for people with hearing loss
for a crisp, clear home entertainment listening experience – is planned to
launch this fall.
About Turtle Beach Corporation
Turtle Beach
Corporation (www.turtlebeachcorp.com) designs leading-edge audio products for the consumer, commercial
and healthcare markets. Under the Turtle Beach brand (www.turtlebeach.com), the Company markets a wide selection of quality gaming headsets
catering to a variety of gamers’ needs and budgets, for use with video game
consoles, including officially-licensed headsets for the Xbox One and
PlayStation®4, as well as for personal computers and mobile/tablet
devices. Under the HyperSound brand (www.hypersound.com), the Company markets pioneering directed audio solutions that
have applications in digital signage and kiosks, consumer electronics and
healthcare. The company’s shares are traded on the NASDAQ Exchange under the
symbol: HEAR.
Forward-Looking Statements
This press
release includes forward-looking information and statements within the meaning
of the federal securities laws. Except for historical information contained in
this release, statements in this release may constitute forward-looking
statements regarding assumptions, projections, expectations, targets,
intentions or beliefs about future events. Forward looking statements are based
on management’s statements containing the words “may”,
“could”, “would”, “should”, “believe”,
“expect”, “anticipate”, “plan”,
“estimate”, “target”, “project”,
“intend” and similar expressions constitute forward-looking
statements. Forward-looking statements involve known and unknown risks and
uncertainties, which could cause actual results to differ materially from those
contained in any forward-looking statement. Forward-looking statements are
based on management’s current belief, as well as assumptions made by, and
information currently available to, management.
While the
Company believes that its expectations are based upon reasonable assumptions,
there can be no assurances that its goals and strategy will be realized.
Numerous factors, including risks and uncertainties, may affect actual results
and may cause results to differ materially from those expressed in forward-looking
statements made by the Company or on its behalf. Some of these factors include,
but are not limited to, the substantial uncertainties inherent in acceptance of
existing and future products, the difficulty of commercializing and protecting
new technology, the impact of competitive products and pricing, general
business and economic conditions, risks associated with the expansion of our
business including the implementation of any businesses we acquire, our
indebtedness, and other factors discussed in our public filings, including the
risk factors included in the Company’s most recent Annual Report on Form 10-K
and the Company’s other periodic reports. Except as required by applicable law,
including the securities laws of the United States and the rules and
regulations of the Securities and Exchange Commission, the Company is under no
obligation to publicly update or revise any forward-looking statement after the
date of this release whether as a result of new information, future
developments or otherwise.
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For More Information, Contact: For
Investor Information, Contact:
MacLean Marshall Cody
Slach
PR/Communications Director Investor Relations
Turtle Beach Corp. Liolios
858.914.5093 949.574.3860
macleanmarshall@turtlebeach.com hear@liolios.com