Friday, January 18, 2002 3:26:34 PM
Partnership slated for set-top box and wireless network markets
PR Newswire (January 18, 2002)
- The Companies Target Advanced Media Solutions
For Wireless Networks and Digital Set-Top Boxes -
RALEIGH, N.C., Jan. 18 /PRNewswire-FirstCall/ -- High Speed Net Solutions, Inc.,
d/b/a Summus (OTC Bulletin Board: HSNS), a leader in the development of wireless
and mobile multimedia solutions, announced today that it is has entered into a
strategic relationship agreement with Samsung Electronics America, Inc.
Under this agreement, Summus and Samsung agree to jointly develop, market and
generate business opportunities for the wireless network and set-top box markets. As
an initial part of the agreement, Samsung has contracted Summus to begin
development of a cutting edge solution to meet some of the strict requirements of
today's multimedia solutions. Samsung will lead the marketing and sales efforts to
profitably grow market share in the wireless network and set-top box markets.
"This is a major step forward in our collaboration with Samsung, and we are extremely
pleased to expand our relationship with this highly innovative leader in the digital
revolution," said Dr. Bjorn Jawerth, CEO and chief scientist of Summus. "Samsung's
world leading position for consumer electronics provides Summus and Samsung a
significant revenue opportunity and heightens Summus' visibility in the global market."
"Samsung is pleased to have Summus as a key partner in the field of video decoding
and multimedia solutions. This partnership will provide Samsung the opportunity to
showcase a superior video solution for our future wireless digital products," said Hank
Byun, head of Samsung's Digital Convergence Team in the U.S. Operation. "We also
plan to utilize Summus technology in a much greater arena, from consumer
electronics to digital wireless products. Summus will play a significant role in our
future multimedia product development efforts."
About Samsung Electronics America, Inc.
Headquartered in Ridgefield Park, NJ, Samsung Electronics America, Inc. (SEA), a
wholly-owned subsidiary of Samsung Electronics Co., markets a broad range of
award-winning advanced digital consumer electronics and information systems
products. The SEA organization oversees the North American operations of Samsung
Telecommunications USA, Samsung Electronics Canada and Samsung Electronics
Mexico. Please visit www.samsungusa.com for more information.
About Samsung Electronics
Samsung Electronics Co., Ltd., with 2000 sales revenue of U.S. $27 billion, is a world
leader in the electronics industry. The Korea-based company has operations in about
50 countries with 66,000 employees worldwide. The company consists of four main
business units: Digital Media, Semiconductor, Information & Communications and
Home Appliance Businesses. Samsung was recently named one of the world's Top
100 Brands by BusinessWeek magazine.
About Summus
High Speed Net Solutions, Inc. d/b/a Summus, based in Raleigh, N.C., has developed
a series of solutions to change the way information is communicated. Summus'
solutions can be used to enable faster and more efficient delivery of rich media and
more efficient access to information using wireless and mobile devices such as cell
phones and personal digital assistant devices (PDAs). Summus technologies is
currently being used for such diverse purposes as scanning underwater mines for the
U.S. Navy and capturing license plate images for EZPass. Trademarked products
include the multi award-winning video email application, MaxxNote(TM), a ZDNet
Editor's pick. For more information visit www.summus.com .
This press release contains statements that are, or may be deemed to be,
forward-looking statements within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking
statements, including but not limited to, the statements regarding the embedding of
the company's video technology in Samsung's consumer products, the marketing of
video-enhanced digital signal processors to the OEM market and the future business
relationship between the company and Samsung, are not based on historical fact, but
rather reflect the company's current expectations concerning future events. By their
nature, these forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause actual results, performance or
achievements of the company to be different from those projected in any
forward-looking statements. The following important factors, among others, may
cause actual results or developments to differ materially from those expressed or
implied by the forward-looking statements: (1) a lack of sufficient financial resources to
implement the company's business plan, which has resulted in the company's
receiving a "going concern" opinion from its independent accountant with respect to its
audited financial statements as of and for the period ended December 31, 2000; (2)
the company's dependence on the continued growth in demand for wireless Internet
usage; (3) the rapid pace of technological developments in the wireless
communications industry, particularly with respect to the availability of greater capacity
or faster transmission speeds (also known as "broadband" transmission); (4) the
degree of market acceptance of the company as a viable wireless technology provider
and of its wireless data services, including wireless e-mail; (5) technological
competition, which creates the risk of the company's technology being rendered
obsolete or noncompetitive; (6) the lack of patent protection with respect to the
company's technology; (7) potential infringement of the patent claims of third parties;
and (8) the company's dependence on its key personnel and the risk of the loss of
their services. The company hereby disclaims any obligation to publicly update the
information provided above, including forward-looking statements, to reflect
subsequent events or circumstances.
For further information, please contact: Investor Relations, Laurel Moody, Vision
Corporate Consulting, +1-212-446-6109, laurel@visioncc.net; or Public Relations,
Lisa Porter of Porter Creative Group, +1-949-752-5891, lporter@portercreative.com,
both for High Speed Net Solutions, Inc., d/b/a Summus.
MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X64236253
SOURCE High Speed Net Solutions, Inc., d/b/a Summus
CONTACT: Investor Relations, Laurel Moody, Vision Corporate Consulting,
PR Newswire (January 18, 2002)
- The Companies Target Advanced Media Solutions
For Wireless Networks and Digital Set-Top Boxes -
RALEIGH, N.C., Jan. 18 /PRNewswire-FirstCall/ -- High Speed Net Solutions, Inc.,
d/b/a Summus (OTC Bulletin Board: HSNS), a leader in the development of wireless
and mobile multimedia solutions, announced today that it is has entered into a
strategic relationship agreement with Samsung Electronics America, Inc.
Under this agreement, Summus and Samsung agree to jointly develop, market and
generate business opportunities for the wireless network and set-top box markets. As
an initial part of the agreement, Samsung has contracted Summus to begin
development of a cutting edge solution to meet some of the strict requirements of
today's multimedia solutions. Samsung will lead the marketing and sales efforts to
profitably grow market share in the wireless network and set-top box markets.
"This is a major step forward in our collaboration with Samsung, and we are extremely
pleased to expand our relationship with this highly innovative leader in the digital
revolution," said Dr. Bjorn Jawerth, CEO and chief scientist of Summus. "Samsung's
world leading position for consumer electronics provides Summus and Samsung a
significant revenue opportunity and heightens Summus' visibility in the global market."
"Samsung is pleased to have Summus as a key partner in the field of video decoding
and multimedia solutions. This partnership will provide Samsung the opportunity to
showcase a superior video solution for our future wireless digital products," said Hank
Byun, head of Samsung's Digital Convergence Team in the U.S. Operation. "We also
plan to utilize Summus technology in a much greater arena, from consumer
electronics to digital wireless products. Summus will play a significant role in our
future multimedia product development efforts."
About Samsung Electronics America, Inc.
Headquartered in Ridgefield Park, NJ, Samsung Electronics America, Inc. (SEA), a
wholly-owned subsidiary of Samsung Electronics Co., markets a broad range of
award-winning advanced digital consumer electronics and information systems
products. The SEA organization oversees the North American operations of Samsung
Telecommunications USA, Samsung Electronics Canada and Samsung Electronics
Mexico. Please visit www.samsungusa.com for more information.
About Samsung Electronics
Samsung Electronics Co., Ltd., with 2000 sales revenue of U.S. $27 billion, is a world
leader in the electronics industry. The Korea-based company has operations in about
50 countries with 66,000 employees worldwide. The company consists of four main
business units: Digital Media, Semiconductor, Information & Communications and
Home Appliance Businesses. Samsung was recently named one of the world's Top
100 Brands by BusinessWeek magazine.
About Summus
High Speed Net Solutions, Inc. d/b/a Summus, based in Raleigh, N.C., has developed
a series of solutions to change the way information is communicated. Summus'
solutions can be used to enable faster and more efficient delivery of rich media and
more efficient access to information using wireless and mobile devices such as cell
phones and personal digital assistant devices (PDAs). Summus technologies is
currently being used for such diverse purposes as scanning underwater mines for the
U.S. Navy and capturing license plate images for EZPass. Trademarked products
include the multi award-winning video email application, MaxxNote(TM), a ZDNet
Editor's pick. For more information visit www.summus.com .
This press release contains statements that are, or may be deemed to be,
forward-looking statements within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking
statements, including but not limited to, the statements regarding the embedding of
the company's video technology in Samsung's consumer products, the marketing of
video-enhanced digital signal processors to the OEM market and the future business
relationship between the company and Samsung, are not based on historical fact, but
rather reflect the company's current expectations concerning future events. By their
nature, these forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause actual results, performance or
achievements of the company to be different from those projected in any
forward-looking statements. The following important factors, among others, may
cause actual results or developments to differ materially from those expressed or
implied by the forward-looking statements: (1) a lack of sufficient financial resources to
implement the company's business plan, which has resulted in the company's
receiving a "going concern" opinion from its independent accountant with respect to its
audited financial statements as of and for the period ended December 31, 2000; (2)
the company's dependence on the continued growth in demand for wireless Internet
usage; (3) the rapid pace of technological developments in the wireless
communications industry, particularly with respect to the availability of greater capacity
or faster transmission speeds (also known as "broadband" transmission); (4) the
degree of market acceptance of the company as a viable wireless technology provider
and of its wireless data services, including wireless e-mail; (5) technological
competition, which creates the risk of the company's technology being rendered
obsolete or noncompetitive; (6) the lack of patent protection with respect to the
company's technology; (7) potential infringement of the patent claims of third parties;
and (8) the company's dependence on its key personnel and the risk of the loss of
their services. The company hereby disclaims any obligation to publicly update the
information provided above, including forward-looking statements, to reflect
subsequent events or circumstances.
For further information, please contact: Investor Relations, Laurel Moody, Vision
Corporate Consulting, +1-212-446-6109, laurel@visioncc.net; or Public Relations,
Lisa Porter of Porter Creative Group, +1-949-752-5891, lporter@portercreative.com,
both for High Speed Net Solutions, Inc., d/b/a Summus.
MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X64236253
SOURCE High Speed Net Solutions, Inc., d/b/a Summus
CONTACT: Investor Relations, Laurel Moody, Vision Corporate Consulting,
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