SEOUL , South Korea , April 2, 2008 /PRNewswire-FirstCall/ -- Pixelplus Co., Ltd. (Nasdaq: PXPL), a fabless semiconductor company in Korea that designs, develops, and markets CMOS image sensors for various consumer electronics applications, today announced that the Company obtained a completely favorable ruling from the Intellectual Property Tribunal ("IPT") of the Korea Intellectual Property Office ("KIPO") on the cancellation and invalidation of two disputed process patents claimed by MagnaChip Semiconductor ("MagnaChip").
In November 2006 , the Company announced that MagnaChip filed patent infringement claims on three process patents in Seoul Central District Court. In May 2007 , the Company initiated cancellation and invalidation proceedings on these three patents at the IPT at KIPO. Given the IPT's commendatory ruling on the two process patents, Pixelplus will issue a separate announcement once the IPT at KIPO provides its ruling on the one remaining disputed process patent claimed by MagnaChip.
About Pixelplus Co., Ltd.
Pixelplus is a South Korea-based developer of high-performance, high- resolution, and cost-effective CMOS image sensors for use primarily in mobile camera phones. In addition to mobile phones, Pixelplus provides CMOS image sensors and SoC solutions for use in webcams and notebook embedded cameras, toys and games, and security and surveillance system applications.
As a fabless semiconductor company, Pixelplus is focused on creating proprietary design technologies to develop CMOS image sensors with sharp, colorful and enhanced image quality, size efficiency, and low power consumption.
Forward Looking Statement
This press release contains certain statements that are not historical in nature but are "forward-looking statements" within the meaning of the "safe- harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the use of forward- looking terminology, such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "project," or "continue" or the negative of such words or other similar words. Pixelplus cautions readers that forward-looking statements are based on the Company's current expectations, estimates and assumptions about our company and our industry, and are subject to a number of risks and uncertainties. Actual results may differ materially from those contained in such forward-looking statements. Investors are directed to Pixelplus' reports and documents filed from time to time with the U.S. Securities and Exchange Commission for a description of various factors that should be considered before investing in Pixelplus' securities. These factors may cause Pixelplus' results to differ materially from the forward-looking statements made in this release. The forward-looking statements speak only as of the date of this press release and Pixelplus assumes no duty or obligation to update them to reflect new, changing, or unanticipated events or circumstances.
SOURCE Pixelplus Co., Ltd.