SEOUL , South Korea , March 18 /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 it obtained a completely favorable ruling in the patent infringement proceedings from the Seoul High Court on the disputed color filter patent claimed by MagnaChip Semiconductor ("MagnaChip"). Given this favorable development, MagnaChip's patent infringement claims on the color filter patent will no longer be contested or remain at issue.
The Seoul High Court's ruling on the color filter patent reflects and reinforces the earlier decision issued by the Seoul Central District Court in February 2007 , under which the Company obtained a complete victory on the disputed color filter and contact hole process patents claimed by MagnaChip. In March 2007 , MagnaChip filed an appeal with the Seoul High Court to reverse this earlier ruling issued by the Seoul Central District Court. In November 2007 , MagnaChip completely withdrew its claims on the disputed contact hole process patent in Seoul High Court.
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.