HARMAN Announces $800M in New Automotive Audio Awards
Harman International Industries, Incorporated, the leading global audio and infotainment group (NYSE: HAR) today announced that it has extended its leadership in automotive audio globally with $800M of new awards from major automakers in North America, Europe and Asia.
Market Penetration in North America:
- Ford Motor Company has chosen Harman as a branded audio partner for selected future programs. This newly established partnership is the result of a common focus on technical innovation and a shared vision to create an unmatched ownership experience.
Continued Success in Europe:
- BMW has expanded its audio relationship with HARMAN, adding its future cross-car line ultra-premium fourth trim level audio systems worldwide to the existing branded audio business for BMW's other trim level vehicles.
- Harman has received a letter of intent from Volvo Car Corporation to provide ultra-premium branded audio for its cross-car line SPA platform vehicles. This is HARMAN's first branded audio award with Volvo and marks the beginning of a strategic new relationship.
- The Fiat Group has also awarded HARMAN a second luxury branded audio contract for its famed Maserati sports car line, in addition to its Fiat Abarth models.
Growing Partnerships in Asia:
- HARMAN has secured eight new program awards with six different OEMs across Asia. In China, HARMAN was awarded the first ever branded audio business with JAC, a domestic automaker, as well as additional programs with current partners BAIC and Geely. In Japan, our long-term partnerships with Subaru (with the Harman/Kardon brand) and Lexus (with the Mark Levinson brand) continue, as HARMAN has been nominated for two replacement platforms with each company. In Korea, the Company continues to expand its portfolio of business with Kia by securing HARMAN's first branded audio award in the small C-segment SUV platform.
“We are pleased to report that we continue to be the preferred partner to automakers with audio solutions that can address a variety of regional requirements, vehicle classes, and consumer tastes,” said Dinesh C. Paliwal, HARMAN's Chairman, President, and CEO. “With our OEM car audio backlog up 23% over last year, it's clear that customers in all major markets continue to acknowledge our technological leadership, strong brand portfolio, and best-in-class global footprint.”
HARMAN (www.harman.com) designs, manufactures and markets a wide range of audio and infotainment solutions for the automotive, consumer and professional markets — supported by 15 leading brands, including AKG, Harman Kardon, Infinity, JBL, Lexicon and Mark Levinson. The Company is admired by audiophiles across multiple generations and supports leading professional entertainers and the venues where they perform. More than 25 million automobiles on the road today are equipped with HARMAN audio and infotainment systems. HARMAN has a workforce of about 13,900 people across the Americas, Europe and Asia, and reported net sales of $4.4 billion for the last fiscal year ending June 30, 2012. The Company's shares are traded on the New York Stock Exchange under the symbol NYSE:HAR.
© 2012 HARMAN International Industries, Incorporated. All rights reserved. Harman Kardon, Infinity, JBL, Lexicon and Mark Levinson are trademarks of HARMAN International Industries, Incorporated, registered in the United States and/or other countries. AKG is a trademark of AKG Acoustics GmbH, registered in the United States and/or other countries. Features, specifications and appearance are subject to change without notice.
Harman International Industries, Incorporated
Darrin Shewchuk, 203-328-3500
Director, Corporate Communications