Premium In-Home Theatre System Available for Demonstration in Newly Opened Showroom at Le Royal Meridien Shanghai
SHANGHAI, June 18, 2015 /PRNewswire/ -- IMAX Corporation (NYSE: IMAX) and TCL jointly announced the launch of the IMAX Private Theatre "Palais™"—the first premium, in-home private theatre developed through IMAX's joint venture with TCL Multimedia Technology Holdings Limited in China.
The companies also unveiled a showroom located at Le Royal Méridien Shanghai, where the luxury system will be available for demonstration to qualified consumers on a by-appointment basis.
The IMAX Private Theatre "Palais" delivers IMAX's best-in-class projection and sound technology as part of the very first completely turn-key home theatre system from a single source. Features include sound isolation, acoustics, wall treatments, flooring, lighting, seating, and audio-visual content provided by IMAX.
"The launch of the IMAX Private Theatre 'Palais' marks the most significant innovation from the newly formed IMAX Home Entertainment division and comes after almost two years of research and ground-up development with our close partner, TCL," said Robert D. Lister, Chief Business Development Officer, IMAX Corp. "The brand-new system takes key components of The IMAX Experience® that we have been delivering to cinema audiences for almost 50 years and, for the first time, transports them into a home environment. Our strategic partnership with TCL, one of the world's leading entertainment technology manufacturers, strengthens both companies' positioning in China, with its rising demand for premium entertainment, and creates an ideal launch-pad for global expansion in the home entertainment sector."
About IMAX China
IMAX China is a majority-owned subsidiary of IMAX Corporation, and is incorporated under the laws of Hong Kong. IMAX China was established by IMAX Corporation specifically to oversee the expansion of IMAX's business throughout Greater China.
About IMAX Corporation
IMAX, an innovator in entertainment technology, combines proprietary software, architecture and equipment to create experiences that take you beyond the edge of your seat to a world you've never imagined. Top filmmakers and studios are utilizing IMAX theatres to connect with audiences in extraordinary ways, and, as such, IMAX's network is among the most important and successful theatrical distribution platforms for major event films around the globe.
IMAX Corporation is headquartered in Toronto with executive offices in New York and Los Angeles, and offices in London, Tokyo, Shanghai and Beijing. As of March 31, 2015, there were 943 IMAX theatres (820 commercial multiplexes, 18 commercial destinations and 105 institutions) in 63 countries.
IMAX®, IMAX® 3D, IMAX DMR®, Experience It In IMAX®, An IMAX 3D Experience® and The IMAX Experience® are trademarks of IMAX Corporation. More information about the Company can be found at www.imax.com. You may also connect with IMAX on Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imax) and YouTube (www.youtube.com/imaxmovies).
About TCL Corporation
TCL Corporation is a global manufacturer of smart products and provider of Internet application services. The wholly-listed TCL Corporation (000100. SZ) consists of TCL Multimedia (01070. HK), TCL Communication (02618. HK) and Tonly Electronics (01249. HK). Founded in 1981, TCL runs businesses with a workforce of 75,000 employees, with offices in over 80 countries and regions across Asia, America, Europe and Oceania, along with 23 R&D and 21 manufacturing facilities. In 2014, TCL reported operating revenue of 101 billion yuan (approx. US$16.6 billion) and the brand value equal to 66.9 billion yuan (approx. US$11.0 billion), ranking first among the TV brands in China.
TCL-IMAX is a joint venture formed by IMAX Corporation and TCL Multimedia Technology Holdings Limited in China to design, manufacture, market and provide content for premium in-home theater systems. IMAX Private Theatre aims to take the world's most immersive entertainment experience and completely customize it to create the most premium and exclusive in-home multimedia solution in the world.
This press release contains forward looking statements that are based on IMAX management's assumptions and existing information and involve certain risks and uncertainties which could cause actual results to differ materially from future results expressed or implied by such forward looking statements. These risks and uncertainties are discussed in IMAX's most recent Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q.