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HARMAN Expands Volkswagen Group Order to $1.6 Billion; Includes Asia 

12-April-2011 

 

STAMFORD, CONNECTICUT –  HARMAN, the premium audio and infotainment group (NYSE:HAR), announced today that it has been awarded additional business to provide next-generation scalable Premium-High infotainment solutions for Volkswagen Group brands, Audi, SEAT, Skoda, and Volkswagen in the Asian markets. The new award builds on HARMAN’s previously announced next-generation scalable infotainment award for Volkswagen Group’s European and US marketed vehicles. Total order value of this award is now $1.6 Billion.

“This new award rounds out our role as a global supplier for VW Group and expands HARMAN’s full-featured infotainment offering to a larger audience of customers including the fast growing Asian market,” said Dinesh C. Paliwal, Harman’s Chairman, President and CEO. “Our pioneering scalable platform continues to build momentum and now represents $3.5 billion in awarded business in the 18-months since being launched. Harman’s total awarded business backlog stands at approximately $13 billion.”

The new infotainment system will leverage HARMAN’s deep expertise in automotive infotainment applications including cutting-edge networking, multi-language capabilities, and advanced tuner technology. HARMAN will be the first infotainment system supplier worldwide to integrate the new TI Jacinto 5 SOC (system-on-chip), offering MOST150 networking technology and an FPGA-less design. The highly integrated system provides a telephone module, a complete set of tuner modules, a six-channel high performance class-D amplifier, DVD-Drive, and a computing module built on the NVIDIA® system-on-chip technology, all housed in a single 1-DIN unit. The new system will be offered in new Volkswagen Group vehicles in Asia beginning in 2013.

HARMAN (www.harman.com) designs, manufactures and markets a wide range of audio and infotainment solutions for the automotive, consumer and professional markets – supported by 15 leading brands including AKG®, Harman Kardon®, Infinity®, JBL®, Lexicon® and Mark Levinson®. The Company is admired by audiophiles across multiple generations and supports leading professional entertainers and the venues where they perform. More than 20 million automobiles on the road today are equipped with HARMAN audio and infotainment systems. HARMAN has a workforce of about 11,800 people across the Americas, Europe and Asia, and reported sales of $3.5 billion over the twelve months ending December 31, 2010. The Company’s shares are traded on the New York Stock Exchange under the symbol NYSE: HAR.

 

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