SAN DIEGO, Nov. 24, 2015 /PRNewswire/ -- Turtle Beach Corporation (NASDAQ: HEAR), the leading-edge audio technology company, today announced new patents have been allowed for issuance in China and Japan for its innovative HyperSound® technology. With the Company's 40 year history in audio innovation, and as the pioneer in making this unique audio technology work in consumer products, this latest allowance covers a key part of HyperSound's electronics system. The total HyperSound technology patent portfolio includes 40 issued and 62 pending patents. That's in addition to Turtle Beach's gaming headset business, which has eight issued and 47 pending patents.
"We continue to build a strong patent portfolio around our engineering expertise in audio technology," said Juergen Stark, CEO, Turtle Beach Corporation. "This international HyperSound patent allowance is consistent with our strategy to protect our innovative technology in other parts of the world, and we expect the depth of our pending patent portfolio to further our intellectual property."
Patents on the Company's HyperSound technology cover proprietary digital signal processing to produce high-quality audio, amplification and transduction. They also cover the methods of constructing HyperSound's thin, flat panel audio emitters along with practical uses, such as applications like the Company's just-launched HyperSound Clear™ product that provides a home entertainment audio solution for people living with hearing loss.
Stark continued, "Since acquiring the technology in January 2014, we've grown HyperSound's patent portfolio by 30 issued and pending patents to the current total of 102, some covering multiple future designs of the emitters, including thin, transparent emitters, and we still have more plans on the drawing board."
Turtle Beach also has strong IP assets in its gaming headset business. The aforementioned eight issued and 47 pending patents cover core and differentiating capabilities, including features that enable dynamic control of game and chat audio volume, as well as features that enable custom processing of gaming audio. One of the more recently issued gaming headset patents was granted based upon an innovation intended to make gaming headsets more comfortable for players who wear glasses. This technology will be introduced via a new product planned to be revealed early next year. Turtle Beach continues to focus on innovations in the gaming headset space, and with its broad selection of feature-packed products catering to gamers' varied desires and budgets, the Company has maintained its spot as the clear revenue market share leader in the U.S. over the last three years, holding 46% in 2014.
About Turtle Beach Corporation
Turtle Beach Corporation (www.turtlebeachcorp.com) designs leading-edge audio products for the consumer, commercial and healthcare markets. Under the Turtle Beach brand (www.turtlebeach.com), the Company markets a wide selection of quality gaming headsets catering to a variety of gamers' needs and budgets, for use with video game consoles, including officially-licensed headsets for the Xbox One and PlayStation®4, as well as for personal computers and mobile/tablet devices. Under the HyperSound brand (www.hypersound.com), the Company markets pioneering directed audio solutions that have applications in digital signage and kiosks, consumer electronics and healthcare. The company's shares are traded on the NASDAQ Exchange under the symbol: HEAR.
This press release includes forward-looking information and statements within the meaning of the federal securities laws. Except for historical information contained in this release, statements in this release may constitute forward-looking statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events. Forward looking statements are based on management's statements containing the words "may", "could", "would", "should", "believe", "expect", "anticipate", "plan", "estimate", "target", "project", "intend" and similar expressions constitute forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. Forward-looking statements are based on management's current belief, as well as assumptions made by, and information currently available to, management.
While the Company believes that its expectations are based upon reasonable assumptions, there can be no assurances that its goals and strategy will be realized. Numerous factors, including risks and uncertainties, may affect actual results and may cause results to differ materially from those expressed in forward-looking statements made by the Company or on its behalf. Some of these factors include, but are not limited to, the substantial uncertainties inherent in acceptance of existing and future products, the difficulty of commercializing and protecting new technology, the impact of competitive products and pricing, general business and economic conditions, risks associated with the expansion of our business including the implementation of any businesses we acquire, our indebtedness, and other factors discussed in our public filings, including the risk factors included in the Company's most recent Quarterly Report on Form 10-Q and the Company's other periodic reports. Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the Securities and Exchange Commission, the Company any is under no obligation to publicly update or revise any forward-looking statement after the date of this release whether as a result of new information, future developments or otherwise.
SOURCE Turtle Beach Corporation