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.
For more information, please contact:
Media and Investors:
Brainerd Communicators, Inc.
Mike Smargiassi or Jenny Perales
NLST@braincomm.com
(212) 986-6667
Logo - http://photos.prnewswire.com/prnh/20150225/177763LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/netlist-and-lg-electronics-to-actively-cooperate-on-development-of-hypervault-mobile-memory-controller-300072895.html
SOURCE Netlist, Inc.