Samsung to Manufacture Memory Sticks
Samsung Electronics and Sony Corporation today announced that Samsung is now licensed by Sony to manufacture and sell Memory Stick media. Samsung will begin production and sales of Memory Stick media in the third quarter of 2003.
This new agreement strengthens the cooperative relationship existing between the two companies beyond the basic agreement reached in August of 2001. Under the 2001 agreement, Sony worked with Samsung to add Memory Stick compatibility to a range of Samsung products including DVD players, mobile phones, PCs and televisions.
In addition to manufacturing Memory Stick compatible products, the current license enables in-house manufacturing of Memory Stick media by Samsung. Once production begins in the third quarter of 2003, Samsung will commence bundling of Memory Stick media with compatible products as well as separate media sales under the Samsung brand. In addition to the product lines agreed on with the 2001 announcement, Memory Stick will be employed in Samsung's new product categories.
Sony believes that by strengthening cooperation with Samsung and accelerating the incorporation of Memory Stick slots into Samsung's wide range of product categories, Memory Stick's "Connected World" will grow to offer customers a wider range of cutting-edge products. As of April 2003, worldwide cumulative shipments of Memory Stick media had reached 40 million units and shipments of Memory Stick compliant products had reached over 40 million units.
"Together with our current expansion of Memory Stick compatible products aimed at expanding the 'Memory Stick World,' Samsung expects the current licensing contract to result in a synergy effect which will further strengthen the flash memory business. Samsung will continue offering new lifestyles and value to Memory Stick customers while introducing next-generation mobile media products suited to a ubiquitous environment. We also look forward to the further cooperation with Sony in related applied technologies," said Samsung Electronics Vice Chairman and CEO Jong-Yong Yun in a statement.
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