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CITECH announces a memorandum of understanding with WiSA Technologies to integrate WiSA E into its ROSE range of HiFi multimedia streamers

CITECH presents the WiSA E receiver module at the HIGH END audio fair in Munich, May 9-12, 2024

BEAVERTON, Oregon, May 9, 2024–(BUSINESS WIRE)–WiSA Association, a subsidiary of WiSA Technologies, Inc. (Nasdaq: WISA) and a leading innovator in wireless audio technology for smart devices and next-generation home entertainment systems, and CITECH Co., Ltd (004920.KS), a leading South Korean manufacturer of hi-fi audio products, digital advertising/information kiosks and telecommunications multimedia products, today announced that the two companies have entered into a strategic partnership designed to integrate WiSA’s powerful WiSA E software into CITECH’s ROSE HiFi media streamer range. Additionally, CITECH plans to develop a receiver module that the company will market to its partner speaker companies in order to accelerate the deployment of WiSA E compatible speakers. The combination of the WiSA E receiver module and the ROSE HiFi media streamer WiSA E compatible ensures seamless streaming of WiSA’s high-quality wireless multi-channel audio. CITECH will be showcasing its ROSE line of HiFi media players at the HIGH END audio show in Munich, Germany, May 9-12.

“We are proud to integrate WiSA E capabilities into our products and deliver superb multi-channel wireless audio to our customers,” said Sean Kim, COO of CITECH. “Our ROSE HiFi product line delivers world-class sound quality to listeners who want the range, detail and overall musicality of a true audiophile system in one easy-to-use product. WiSA E technology complements our brand promise of excellence and makes it easy for our customers to enjoy immersive sound right out of the box. »

CITECH plans a two-pronged approach to commercialize WiSA E technology. Through its HiFi ROSE brand, CITECH will enable its media streamers to transmit up to 6 channels of audio wirelessly using WiSA E transmitter technology. To initiate the market with a number of WiSA E certified loudspeakers, CITECH has developed a WiSA E receiver module which will be made available to CITECH’s many loudspeaker partners for integration into loudspeaker products.

“CITECH is an ideal partner for WiSA,” said Tony Ostrom, president of the WiSA Association. “The company is focused on creating an ecosystem of interoperable WiSA E certified speakers to complement its line of media streamers. We encourage any speaker system wishing to be part of the WiSA E ecosystem to contact CITECH; their receiver module is the perfect basis for building WiSA E certified speakers.”

Visit CITECH at the HIGH END audio show at MOC Event Center Messe Munich from May 9 to 12, Hall 2, G04/J03. CITECH will showcase its ROSE range of HiFi media streamers and receiver module designed to allow speaker brands to easily integrate WiSA E certified receiver functionality into speakers.

  • For more information about CITECH and the ROSE HiFi product line, contact Sean Kim at [email protected].

  • For more information about WiSA E Technology or the WiSA E Licensing Program, contact Tony Ostrom, President of the WiSA Association at [email protected].

  • To receive a WiSA E demonstration at HIGH END, email James Cheng at [email protected].

About the WiSA association

WiSA® educates, evangelizes and promotes solutions for spatial audio in the home. Working in collaboration with technology developed by WiSA Technologies, Inc., the WiSA Association engages with leading consumer electronics companies, technology providers, retailers and ecosystem partners to make audio immersive experience that everyone can enjoy. WiSA, LLC – Wireless Speaker and Audio Association – is a wholly owned subsidiary of WiSA Technologies, Inc. For more information about WiSA, please visit: www.wisatechnologies.com.

About WiSA Technologies, Inc.

WiSA Technologies, Inc. (NASDAQ: WISA) is a leading provider of immersive wireless sound technologies for next-generation smart devices and home entertainment systems. Working with leading CE brands and manufacturers such as Harman International, a division of Samsung; LG; Hisense; TCL; Bang & Olufsen; Audio Platinum; and others, the company delivers immersive wireless sound experiences for high-definition content, including movies and videos, music, sports, gaming/esports, and more. WiSA Technologies, Inc. is a founding member of WiSA™ (Wireless Speaker and Audio Association) whose mission is to define standards for wireless audio interoperability as well as work with leading consumer electronics companies, technology providers, retailers and ecosystem partners to evangelize and commercialize spatial audio technologies driven by WiSA Technologies, Inc. The company is headquartered in Beaverton, Oregon, with sales teams in Taiwan, China, Japan, Korea and California.

About CITECH Co., Ltd.

CITECH Co., Ltd. manufactures and sells ticket identification and issuance machines in South Korea. It also manufactures digital advertising and information kiosks, hi-fi audio products and telecommunications multimedia products. The Company also develops and sells programming, digital content, access control systems, equipment rentals, and operates restaurants and sells groceries. Additionally, it develops software and sells hardware-related tools and programs and operates online education and learning platforms. The company was previously known as Sam Yung Holdings Co., Ltd. and changed its name to CITECH Co., Ltd. in April 2015. CITECH Co., Ltd. was founded in 1967 and is headquartered in Seoul, South Korea.

Safe Harbor Statement

This press release contains forward-looking statements, which are not historical facts, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. . In some cases, you can identify these forward-looking statements by words such as “may”, “could”, “expect”, “intend”, “plan”, “seek”, “anticipate”. “, “believe”, “estimate”, “predict”, “potential”, “continue”, “likely”, “will”, “would” and variations of these terms and similar expressions, or the negative form of these terms or similar expressions such forward-looking statements, including statements contained herein regarding our business opportunities and prospects, and our licensing initiatives and expectations, are necessarily based on estimates and assumptions that, while considered reasonable. by us and our management, are inherently uncertain. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated in these forward-looking statements as a result of, among other things, risks and uncertainties. elements: the degree to which the licensee implements the licensed technology in its products, if applicable; the timetable for such implementation; our current liquidity position and the need to obtain additional financing to support ongoing operations; general market, economic and other conditions; our ability to continue our business; our ability to maintain the listing of our common stock on Nasdaq; our ability to manage costs and execute our operational and budgetary plans; our ability to achieve our financial objectives; and other risks as more fully described in our filings with the United States Securities and Exchange Commission. The information contained in this press release is provided only as of the date of this press release, and we undertake no obligation to update any forward-looking statements contained in this press release based on new information, future events or otherwise, unless required by law.

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Contacts

Investor contact:

David Barnard, LHA Investor Relations, 415-433-3777, [email protected]