Asia Express - Consumer Electronics
Korean AWT and US XM in Satellite Radio Agreement
June 24, 2005
The Korean R&D company AWT and the US satellite broadcasting company XM have signed a contract focused on research, production and selling of satellite radio end-terminals. According to the contract, AWT will provide XM with two models of portable satellite radios. Currently, AWT is in negotiations with equipment maker EZON about the production of these satellite radios. The two companies expect initial production to be at 100,000 units per month, which will slowly be increased in the future. Due to this contract, AWT's sales revenue in 2005 could reach six billion Won. Seperately, the Korean company Kiryung and the US satellite broadcasting company Sirius have signed a contract similar to the one signed by AWT and XM, with Kiryung supplying satellite radio end-terminals to Sirius.