Delphi’s New SKYFi3 Receives FCC Approval
SKYFi3, the Newest and Most Advanced Plug-and-Play Design in Satellite Radio Today, is Authorized for Retail Sale
October 30, 2006 - TROY, MICH. -- Delphi announced today it has received the final necessary approvals from the Federal Communications Commission (FCC) authorizing the sale of its latest XM satellite radio receiver, the SKYFi3, to the public. The FCC is an independent government agency charged with regulating interstate and international communications by radio, television, wire, satellite and cable.
“Delphi officially introduced SKYFi3 to the market last week and early demand for the product has been tremendous,” said Francisco (Frank) Ordonez, president, Delphi Product & Service Solutions. “With its impressive list of features, the SKYFi3 sets the new standard for plug-and-play systems.”
As the latest successor in the best-selling SKYFi family, the SKYFi3 is 65% smaller, yet maintains nearly every benefit of the previous generation product. Optimized for the vehicle, the SKYFi3 receiver comes with a car dock included. SKYFi3 also offers an optimum balance of compact size, screen readability and portability outside the vehicle.
In addition, the SKYFi3 can also store and manage up to 10 hours of XM programming through non-removable internal memory, as well as an unlimited number of MP3 files through optional and removable microSD cards. The SKYFi3 also has the largest 9 line display in its class and mounts vertically or horizontally using a low-profile car dock.
The Delphi SKYFi3 will be available for this year’s holiday shopping at select retailers with an expected retail price of $229. Additionally, some retailers will be offering SKYFi3 purchasers a free SKYFi3 Live Wearable Kit (SA10252), featuring integrated headphones with built-in Antenna (a $49 value), so they can listen to live XM on-the-go. For more information or to pre-order the Delphi SKYFi3, visit http://skyfi3.delphi.com. You can also see the new SKYFi3 at this year’s SEMA Show, being held at the Las Vegas Convention Center from October 31 - November 3, 2006.
This press release, as well as other statements made by Delphi may contain forward-looking statements within the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 that reflect, when made, the Company’s current views with respect to current events and financial performance. Such forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the Company’s operations and business environment which may cause the actual results of the Company to be materially different from any future results, express or implied, by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: the ability of the Company to continue as a going concern; the ability of the Company to operate pursuant to the terms of the debtor-in-possession (“DIP”) facility; the Company’s ability to obtain court approval with respect to motions in the chapter 11 proceeding prosecuted by it from time to time; the ability of the Company to develop, prosecute, confirm and consummate one or more plans of reorganization with respect to the chapter 11 cases; risks associated with third parties seeking and obtaining court approval to terminate or shorten the exclusivity period for the Company to propose and confirm one or more plans of reorganization, for the appointment of a chapter 11 trustee or to convert the cases to chapter 7 cases; the ability of the Company to obtain and maintain normal terms with vendors and service providers; the Company’s ability to maintain contracts that are critical to its operations; the potential adverse impact of the chapter 11 cases on the Company’s liquidity or results of operations; the ability of the Company to fund and execute its business plan; the ability of the Company to attract, motivate and/or retain key executives and associates; and the ability of the Company to attract and retain customers. Other risk factors are listed from time to time in the Company’s United States Securities and Exchange Commission reports, including, but not limited to the Annual Report on Form 10-K for the year ended December 31, 2004 and its most recent quarterly report on Form 10-Q for the quarter ended September 30, 2005 and current reports on Form 8-K. Delphi disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events and/or otherwise. Similarly, these and other factors, including the terms of any reorganization plan ultimately confirmed, can affect the value of the Company’s various pre-petition liabilities, common stock and/or other equity securities. Additionally, no assurance can be given as to what values, if any, will be ascribed in the bankruptcy proceedings to each of these constituencies. A plan of reorganization could result in holders of Delphi’s common stock receiving no distribution on account of their interest and cancellation of their interests. As described in the Company’s public statements in response to the request submitted to the United States Trustee for the appointment of a statutory equity committee, holders of Delphi’s common stock and other equity interests (such as options) should assume that they will not receive value as part of a plan of reorganization. In addition, under certain conditions specified in the Bankruptcy Code, a plan of reorganization may be confirmed notwithstanding its rejection by an impaired class of creditors or equity holders and notwithstanding the fact that equity holders do not receive or retain property on account of their equity interests under the plan. In light of the foregoing and as stated in its October 8, 2005 press release announcing the filing of its chapter 11 reorganization cases, the Company considers the value of the common stock to be highly speculative and cautions equity holders that the stock may ultimately be determined to have no value. Accordingly, the Company urges that appropriate caution be exercised with respect to existing and future investments in Delphi’s common stock or other equity interests or any claims relating to pre-petition liabilities.
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- Brian Metcalf
- Delphi Corporation
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