September 08, 1999 in Social Responsibility News

SAMSUNG's MP3 Player, "yepp" Gets Prestigious EISA Award

SEOUL, Korea - September 8, 1999 - Korean digital technology is rapidly emerging as the "eye of the storm" driving change in the world audio industry. The European Imaging and Sound Association (EISA) Awards are the most prestigious in the world audio/video industry, and a Korean company has come as a world-leader of digital music industry by winning the '99 EISA Award in the Internet Audio category.

Samsung Electronics' MP3 player, "yepp", a digital audio product, was granted the EISA Award. The award was presented at the IFA, the world's premiere audio/video product show, which closed in Germany on September 5.

In selecting "yepp" for their top award, the EISA judges cited advanced technology that satisfies consumer needs for high quality sound and precise playback of compressed audio files; an outstanding, user-friendly design; and a solid and safe construction that enhances portability.

The European Imaging and Sound Association is made up of 40 trade journals specializing in audio products, video products or still cameras. The EISA Award Mark is internationally recognized in these industries.

"Since the launch of yepp early this year, the use of digital audio players has quickly and widely spread. Our winning of the EISA Award verifies that yepp is the true leader in the world digital audio industry" said Byung-moon Suh, Vice President of Media Service Team, Samsung Electronics.

Samsung Electronics has already exported 500,000 units to the Americas and Asia. With the winning of the EISA Award, Samsung will also begin full-scale exports to Europe. Next year, the company expects to export 1 million units worldwide, capturing at least 30% of the world market.

The world market for Internet audio (MP3) players is estimated at 1.5 million units this year and is forecast to soar at an astounding 139% average annual growth rate, reaching 3 million units in 2000 and 7.8 million units in 2001. By 2005, industry insiders predict that 30 million MP3 players will be sold a year, making them more popular than regular cassette players.

In Korea, meanwhile, the MP3 player market is around 200,000 units this year and is expected to increase to 500,000 units in 2000 and one million units the following year.

Samsung Electronics Co., Ltd., with 1998 sales revenue of US$16.6 billion, is a world leader in the electronics industry. The Korean-based firm has operations in 46 countries with 42,000 employees worldwide. The company consists of three main business units: Multimedia & Home Appliances, Semiconductors and Information & Telecommunications. For more information, please visit our website, http://www.samsungelectronics.com

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