Xiaomi renews Via Licensing advanced audio coding patent pool license, Business News
SAN FRANCISCO and BEIJING, July 20. 2022 (GLOBE NEWSWIRE) — Via Licensing Corporation, the leader in collaborative licensing, and Xiaomi, the global leader in consumer electronics and smart manufacturing, today announced that Xiaomi has renewed its license for audio encoding Advanced Via (AAC) patent pool. This global agreement includes smartphones, for which Xiaomi is ranked third in global sales1.
“We are pleased to continue our agreement with Via’s AAC Patent Pool, a balanced collaborative licensing model that aims to address the unique challenges of our market,” said Ran Xu, General Manager of Global Business Development and Strategy. IP, Xiaomi Technology. “Xiaomi customers will continue to enjoy this high-quality audio format.”
“We are delighted to renew our standard license with Xiaomi, a company with a sophisticated approach to global licensing, dedicated to bringing innovative products to users around the world,” said Heath Hoglund, President of Via Licensing.
Advanced Audio Coding is a coding method that allows consumers to enjoy high quality audio with high compression efficiency, reducing the amount of data to be transmitted and the processing power required for playback.
Xiaomi Corporation was founded in April 2010 and listed on the main board of the Hong Kong Stock Exchange on July 9, 2018 (1810.HK). Xiaomi is a consumer electronics and smart manufacturing company with smartphones and smart hardware connected by an IoT platform at its core.
True to our vision of “Befriending users and being the coolest company in users’ hearts”, Xiaomi is constantly striving for innovation, high-quality user experience and operational efficiency. The company tirelessly builds amazing products at honest prices to empower everyone around the world to enjoy a better life through innovative technology.
Xiaomi is one of the leading smartphone companies in the world. The company also established the world’s first consumer AIoT (AI+IoT) platform, with 478.1 million smart devices connected to its platform (excluding smartphones and laptops) as of March 31, 2022, excluding smartphones and laptops. In August 2021, the company made the Fortune Global 500 list for the third time, ranking 338th, up 84 places from 2020.
Xiaomi is included in the Hang Seng Index, Hang Seng China Enterprises Index, Hang Seng TECH Index, and Hang Seng China 50 Index.
About Via Licensing Corporation
Via Licensing Corporation is a global intellectual property solutions provider dedicated to fostering innovation in partnership with technology companies, entertainment companies and universities around the world. Via develops and manages licensing programs on behalf of highly innovative companies in markets such as audio, wireless, broadcast and automotive. Via is a wholly owned subsidiary of Dolby Laboratories, Inc., a company with over 50 years of experience in innovation. For more information about Via, please visit www.via-corp.com.
Through the license
Qing Yuan Guo
1 According to International Data Corporation (IDC) “Top 5 Companies, Worldwide Smartphone Shipments, Market Share, and Year-Over-Year Growth, Q1 2022,” https://www.idc.com/getdoc.jsp?containerId=prUS49063822