TTI Establishes TTI Brazil Ltda.
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San Diego, Calif. -- Turtle Beach Corporation (NASDAQ: HEAR), the leading-edge audio technology company and #1 in gaming audio, today announced the Company's strategic partnership with Hon Hai Precision Industry Ltd., also known as Foxconn Technology Group ("Foxconn"), the world's largest contract manufacturer of electronic products and components.
Under the partnership which began late last year, Foxconn is now fully up-and-running manufacturing Turtle Beach's lineup of high-quality gaming headsets, as well as the Company's first-of-its-kind hearing healthcare product for people with hearing loss, HyperSound Clear, at their facilities in China and Mexico.
"This is a substantial step in our operational transformation, designed to increase agility, visibility and consistency at the front end of our supply chain network," said Robert Andris, Senior Vice President of Global Supply Chain Operations, Turtle Beach Corporation. "Adding Foxconn as a key global manufacturing partner, in conjunction with our recently announced global logistics partnership with Keuhne + Nagel – two of the best in the business in their respective fields – frames our supply chain development strategy, which is designed to support Turtle Beach's market expansion as we manage costs, optimize inventory and maintain superior product quality."
"We are excited to be selected as a strategic partner to Turtle Beach, a company known for their innovative, technology-driven products and global leadership in gaming audio," said Mark Chien, Senior Executive Vice President, Foxconn. "We look forward to leveraging our strong expertise in high-quality consumer electronics manufacturing to deliver their groundbreaking HyperSound Clear product to consumers later this year."
"We're continuing to enhance our global supply chain operations to support corporate objectives for our gaming headset business and products based on our innovative HyperSound® technology" said Juergen Stark, CEO, Turtle Beach Corporation. "Partnering with Foxconn allows us to continue development of our market-leading audio technologies while leveraging their world-class electronics manufacturing capabilities and global footprint."
Turtle Beach continues to bring its patented, innovative products to market. This year the Company has already launched a variety of new, high-quality gaming headsets, including its top-of-the-line, 100% fully wireless Xbox One gaming headset – the Turtle Beach Elite 800X, with a handful more gaming headsets planned to enter the market leading into the holidays. Additionally, HyperSound Clear – which has been shown to improve sound clarity and speech intelligibility for people with hearing loss for a crisp, clear home entertainment listening experience – is planned to launch this fall.
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.
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