IRVINE, Calif., April 28, 2015 /PRNewswire/ -- Netlist, Inc. (NASDAQ: NLST), a leading provider of high performance memory solutions for the cloud computing and storage markets, today announced that it has entered into a Letter of Intent ('LOI") with LG Electronics, Inc. (LG) to jointly work on a HyperVault Mobile Memory Controller (HVMMC) with the intention of adopting HVMMC on a next generation mobile system of LG Electronics.
Under the LOI, it is expected that Netlist and LG would combine the strengths of both companies to actively cooperate to build a superior mobile memory controller for smart phones. The new HVMMC would benefit the end user by allowing a mobile system to reduce DRAM density, and therefore lower costs, without loss of system performance. The worldwide shipment of smartphones is anticipated to reach 1.9 billion units by 2018 according to forecasts by CCS Insight. It is expected that a growing share of those units will use a minimum of 3GB of DRAM or above.
"Cooperation with LG, a leader in the mobile industry is a strong endorsement of Netlist's next generation HyperVault technology," said C.K Hong, President and CEO of Netlist. "HyperVault Mobile provides a more efficient and cost effective solution to meet the expanding memory needs of mobile devices without sacrificing performance. We look forward to working with LG on the design and development of this innovative new controller as the growth in the mobile market fuels the need for more powerful devices. The development of HyperVault Mobile is an important investment for both companies."
HyperVault, part of Netlist's NVvault® product family, is a memory channel storage product currently under development that greatly expands the performance and capacity of DRAM channel storage. It is expected to be targeted at the fastest tiers of storage where latency is a critical issue, such as online transaction processing, virtualization, big data analytics, high-speed transaction processing, high performance database, and in-memory database. For the mobile smartphone market, HVMMC adopts cache buffer to decrease DRAM density and delivers cost savings while maintaining performance.
About Netlist: Netlist, Inc. designs and manufactures high-performance, logic-based memory subsystems for server and storage applications for cloud computing. Netlist's flagship products include NVvault® and EXPRESSvault™, a family of hybrid memory products that significantly accelerate system performance and provide mission critical fault tolerance, as well as HyperVault, its next generation hybrid memory solution which is under development and greatly expands the performance and capacity of DRAM channel storage. The Company's product offering also includes HyperCloud®, a patented memory technology that breaks traditional performance barriers, and a broad portfolio of industrial Flash and specialty memory subsystems including VLP (very low profile) DIMMs and Planar-X RDIMMs. Netlist has steadily invested in and grown its worldwide IP portfolio, which now includes 88 issued and pending patents in the areas of high performance memory and hybrid memory technologies.
Netlist develops technology solutions for customer applications in which high-speed, high-capacity, small form factor and efficient heat dissipation are key requirements for system memory. These customers include OEMs and hyperscale datacenter operators that design and build servers, storage systems and high-performance computing clusters, engineering workstations and telecommunications equipment. Founded in 2000, Netlist is headquartered in Irvine, CA with manufacturing facilities in Suzhou, People's Republic of China. Learn more at www.netlist.com.
About LG Electronics, Inc.: LG Electronics Inc. is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing 82,000 people working in 119 locations around the world. With 2013 global sales of USD 53.10 billion (KRW 58.14 trillion), LG comprises four business units ― Home Entertainment, Mobile Communications, Home Appliances & Air Solutions, and Vehicle Components ― and is one of the world's leading producers of flat panel TVs, mobile devices, air conditioners, washing machines and refrigerators. LG Electronics is a 2014 ENERGY STAR Partner of the Year- Sustained Excellence.
Safe Harbor Statement: This news release contains forward-looking statements regarding future events and the future performance of Netlist. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expected or projected. These risks and uncertainties include, but are not limited to, risks associated with the launch and commercial success of our products, programs and technologies; the success of product partnerships; continuing development, qualification and volume production of Hypervault™, EXPRESSvault™, NVvault®, HyperCloud® and VLP Planar-X RDIMM; the timing and magnitude of the decrease in sales to our key customer; our ability to leverage our NVvault® and EXPRESSvault™ technology in a more diverse customer base; the rapidly-changing nature of technology; risks associated with intellectual property, including risks associated with the inherent uncertainty of the litigation process, and we can provide no assurance that our efforts to mitigate the effects of the jury verdict will be successful, patent infringement litigation against us as well as the costs and unpredictability of litigation over infringement of our intellectual property and the possibility of our patents being reexamined by the United States Patent and Trademark office; volatility in the pricing of DRAM ICs and NAND; changes in and uncertainty of customer acceptance of, and demand for, our existing products and products under development, including uncertainty of and/or delays in product orders and product qualifications; delays in the Company's and its customers' product releases and development; introductions of new products by competitors; changes in end-user demand for technology solutions; the Company's ability to attract and retain skilled personnel; the Company's reliance on suppliers of critical components and vendors in the supply chain; fluctuations in the market price of critical components; evolving industry standards; and the political and regulatory environment in the People's Republic of China. Other risks and uncertainties are described in the Company's annual report on Form 10-K filed on March 27, 2015, and subsequent filings with the U.S. Securities and Exchange Commission made by the Company from time to time. Except as required by law, Netlist undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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