January 10, 2012 -- FOR IMMEDIATE RELEASE
HARMAN to Bring Lexicon Audio Systems to New Hyundai Model
Growing Korean automaker to include HARMAN branded audio solution
as it expands reach in luxury vehicle segment
For more information: HARMAN.com
STAMFORD, Conn.--(BUSINESS WIRE)--
HARMAN, the global leading supplier of premium audio and infotainment
systems (NYSE:HAR) announced today a new contract with Hyundai Motors
Company (HMC) to provide its Lexicon™ -branded premium audio systems for
the MY 2014 Genesis sedan to be sold across major global markets. This
agreement continues HARMAN's 14-year relationship with HMC, which now
includes HARMAN-branded audio systems in 16 Hyundai and Kia models
worldwide. HARMAN is the world's largest supplier of premium-branded
audio solutions and more than 25 million vehicles worldwide are
currently equipped with HARMAN technology.
The next generation Genesis full-sized luxury sedan from Hyundai will
feature a 17-speaker premium Lexicon™ branded sound system, and the
latest, most advance surround-sound technology developed by Lexicon
engineers. As with all its audio systems, HARMAN and Hyundai Motors will
work closely together on the development of this next generation premium
audio system to ensure it meets the rigorous performance standards of
the Lexicon brand and seamlessly integrates with the vehicle's interior.
This program award represents an additional $140M in revenue for HARMAN
over the five years of the Genesis program, increasing booked business
by 10% during this period.
"HARMAN has been a trusted supplier to Hyundai for many years, and we
are pleased that they have chosen to award us with this next generation
Genesis vehicle," said Dinesh C. Paliwal, President, Chairman and CEO of
HARMAN. "This further strengthens our relationship with Hyundai as it
continues its expansion into the full-sized luxury vehicle segment."
HARMAN currently has more than 75 employees in Korea, serving in sales
and marketing and application engineering functions. Recently Harman
presented a technology showcase at the HKMC R&D Center which drew more
than 1,000 attendees, including top HKMC management. This event
demonstrated Harman's value as a strategic partner for Hyundai and Kia
by providing insights into future audio and infotainment platforms.
About HARMAN
HARMAN (www.harman.com)
designs, manufactures and markets a wide range of audio and infotainment
solutions for the automotive, consumer and professional markets —
supported by 15 leading brands, including AKG, Harman Kardon, Infinity,
JBL, Lexicon and Mark Levinson. The company is admired by audiophiles
across multiple generations and supports leading professional
entertainers and the venues where they perform. More than 25 million
automobiles on the road today are equipped with HARMAN audio and
infotainment systems. HARMAN has a workforce of about 12,500 people
across the Americas, Europe and Asia, and reported net sales of $4.0
billion for twelve months ending September 30, 2011. The Company's
shares are traded on the New York Stock Exchange under the symbol
NYSE:HAR.
© 2012 HARMAN International Industries, Incorporated. All rights
reserved. Harman Kardon, Infinity, JBL, Lexicon and Mark Levinson are
trademarks of HARMAN International Industries, Incorporated, registered
in the United States and/or other countries. AKG is a trademark of AKG
Acoustics GmbH, registered in the United States and/or other countries.
Features, specifications and appearance are subject to change without
notice.
HAR-C

HARMAN Corporate Communications
Darrin Shewchuk, 203-328-3834
darrin.shewchuk@HARMAN.com
or
Burson-Marsteller
Seine
Kim, 212-614-4178
Mobile: 646-361-7971
seine.kim@bm.com
Source: HARMAN
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