Xperi Corp. is touting its second customer win as it seeks to globally proliferate its TiVo-branded smart TV OS.
China's Shenzhen KTC Technology is a top-six OEM manufacturer of flat-panel displays, serving brand clients including Dell, Asus, Lenovo, Samsung and LG.
Also read: Xperi IDs Europe's Vestel as the First Smart TV OEM Customer for Its New TiVo-Branded TVOS
Making the disclosure during Xperi's third-quarter earnings call Tuesday, CEO Patrick Harshman conceded the KTC signing isn't an "express brand win," but the company does supply "turnkey reference designs" for its brand clients.
"They believe there is demand for our OS solution, and they're making it available to their clients. It's up to us to connect the dots," Harshman added.
Xperi also announced in August that Istanbul, Turkey-based Vestel, the largest shipper of smart TVs in Europe, providing TVs under brand names including Toshiba, Panasonic and JVC, is licensing its Linux-based TiVo operating system.
Harshman said during Tuesday's call that 40% of the global smart TV market is looking for an "independent OS solution" that allows smart TV brands to customize their operating environment and control the overall customer experience. This is opposed to solutions like Roku and Amazon Fire TV, which provide gateway operating systems that control the branding and overall UX aesthetic.
Xperi is also making headway with its connected car ambitions, and it just spun off its IP licensing unit. It has lofty goals for its smart TV business, but that potentially explosive revenue potential is still a ways from hitting the balance sheets.
For the third quarter, Xperi reported a 3% increase in sales to $121.6 million, missing analysts' consensus forecasts of $125 million. The company's stock price has fallen about 7% since Tuesday. ■
