Wednesday, May 5, 2010

Telegent Ships 80 Million Mobile TV Chips, Withdraws IPO

Telegent Systems announced a company milestone for its mobile TV chipset -- 80 million units shipped since it first launched its mobile TV receiver technology in mid-2007. Telegent is preparing to broaden its product portfolio of 'converged TV' solutions with silicon solutions for new geographies while exploring new forms of delivery and new methods of interaction with television content.

"We have seen very rapid adoption of free-to-air TV handsets incorporating Telegent's technology in emerging markets," said Samuel Sheng, Telegent's president and chief executive officer. "Consumers globally have demonstrated that they place high value on the ability to receive live broadcast television on mobile devices."

Sheng has asked Telegent's board of directors to begin the search for his successor, following which he will resume the role of chief technology officer in order to concentrate on further developing and expanding Telegent's technology platform. Sheng will continue in his current leadership position during the search.

In addition, Telegent has withdrawn its registration statement for an initial public offering. Sheng commented, "We are able to pursue our growth and diversification goals with the working capital generated from our operations as a private company, and are choosing to invest in the technology and leadership that will carry us forward before we enter the public market."

Currently, Telegent counts among its customers more than 100 device manufacturers, including a top three global handset manufacturer, two of the top five mobile handset manufacturers in Taiwan, and eight of the top ten design houses in China.


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