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Audiovox Enters In-Vehicle Wireless Charging MarketLAS VEGAS, Jan. 7, 2013 /PRNewswire via COMTEX/ -- LVCC, CENTERHALL, BOOTH 10415 -- Audiovox Electronics Corporation (AEC), a wholly-owned subsidiary of VOXX International Corp. (NASDAQ: VOXX), announced today that it has entered a new product category as it introduces its first automotive wireless charging cradle with embedded Qi (pronounced Chi) technology. This new automotive wireless charging cradle uses the Qi Multi Litz Coil Array, which delivers more freedom of positioning a Qi equipped smartphone in the cradle to maximize charge to the device and retain typical "wired charging" rates. "Automotive wireless charging products builds upon our business plan and is a logical extension of the high-performance connectivity products we are already producing for in car use," said Tom Malone, President of Audiovox Electronics Corp. "Qi technology is rapidly growing in adoption by the phone makers and we believe this category will drive growth in our automotive solutions over the next 5-6 years." The automotive wireless charging Qi Cradle features a stylish and ruggedized design that comes in four (4) colors to allow for in-vehicle personalization. The universal design features quick release locking arms that will hold most smartphones. The Qi Cradle is designed with optimized heat dissipation, capacitive sensing to activate charging and an LED indicator which highlights charging status. The cradle includes a slim design, automotive 12-volt adapter (CLA). There are two mounting options; a suction cup mount and a cup holder mount to accommodate the consumers' preference and address some state regulations regarding mounting locations. The target MSRP for the Qi Cradle is under $70 plus the selected mounting system, and will be available in the summer of 2013. Malone concluded, "Our entre into this new category is a poignant example of our commitment to supporting the changing landscape of mobile electronics with advanced technology products that consumers want and need in their mobile lifestyle." About Audiovox Electronics Corporation (AEC): Audiovox Electronics Corporation (AEC) is a wholly owned subsidiary of VOXX International Corporation (NASDAQ: VOXX), a leading, global supplier of mobile and consumer electronics products. The Company holds number one market share in rear seat entertainment as well as remote start systems. AEC is also a recognized leader in the marketing of automotive entertainment, Location Based Services (LBS), rear observation systems, and vehicle security. Its extensive distribution network includes power retailers and 12-volt specialists as well as nearly all of the major vehicle manufacturers ("OEMs"), both domestically and abroad. Audiovox Electronics possesses a strong brand portfolio and its products ranks among the top ten in almost every category in which they sell. Primary brands include Audiovox®, Invision®, Jensen®, Omega®, Advent®, Code Alarm®, Prestige® and Excalibur®. Headquartered in Hauppauge, NY, Audiovox Electronics has a manufacturing facility in the United States, and a robust international footprint with offices in Europe, Canada, Mexico and Venezuela. For additional information, please visit our Web site at www.audiovoxproducts.com. About VOXX International Corporation: VOXX International Corporation (NASDAQ:VOXX). The Company that began as Audiovox over 45 years ago has morphed into a worldwide leader in many automotive and consumer electronics and accessories categories, and now into premium high-end audio. The Company's brands hold leading market positions across a wide-spectrum of consumer and automotive segments. Today, VOXX International is a global company...with an extensive distribution network that includes some of the world's Fortune 500 companies and an international footprint in Europe, Asia, Mexico and South America, and a growing brand portfolio, which is now comprised of over 30 trusted brands including Audiovox®, Klipsch®, RCA®,Invision®, Jensen®, Acoustic Research®, Jamo®, Energy®, Mac Audio®, Magnat®, Heco®, Schwaiger®, Hirschmann Car Communication® and Oehlbach®. The Company continues to drive innovation throughout all of its subsidiaries, and maintains its commitment to exceeding the needs of the consumers it serves. For additional information, please visit our Web site at www.voxxintl.com. Safe Harbor Statement Except for historical information contained herein, statements made in this release that would constitute forward-looking statements may involve certain risks and uncertainties. All forward-looking statements made in this release are based on currently available information and the Company assumes no responsibility to update any such forward-looking statement. The following factors, among others, may cause actual results to differ materially from the results suggested in the forward-looking statements. The factors include, but are not limited to risks that may result from changes in the Company's business operations; our ability to keep pace with technological advances; significant competition in the mobile and consumer electronics businesses as well as the accessories business; our relationships with key suppliers and customers; quality and consumer acceptance of newly introduced products; market volatility; non-availability of product; excess inventory; price and product competition; new product introductions; the possibility that the review of our prior filings by the SEC may result in changes to our financial statements; and the possibility that stockholders or regulatory authorities may initiate proceedings against VOXX International Corporation and/or our officers and directors as a result of any restatements. Risk factors associated with our business, including some of the facts set forth herein, are detailed in the Company's Form 10-K for the fiscal year ended February 29, 2012. Audiovox Contacts: Jeremy StoehrPhone: 1-631-436-6371Email: [email protected] SOURCE VOXX International Corporation |