Initiative Offers Consumers Cash Back When They Trade In Old Radios for HD Radio Products
NEW YORK CITY - Digital Life Conference - October 13, 2005 - iBiquity Digital, the sole developer of digital HD Radio™ technology, today announced the launch of a trade -in program on eBay® designed to help consumers trade in their old analog radios to receive a rebate on a new HD Radio receivers. Available at www.ebay.com/hdradio, the program allows anyone to trade in their old radios for cash payment when they purchase a new HD Radio product on eBay or elsewhere.
"The iBiquity HD Radio trade -in program on eBay is a great way to introduce people to an exciting new technology," said Andrew Lee, senior category manager, consumer electronics/photo, eBay. "The iBiquity program gives people the opportunity to upgrade to the latest digital technology while at the same time earning cash for their old radios."
HD Radio enables AM and FM radio stations to broadcast their programs digitally - a tremendous technological leap from the familiar analog broadcasts of the past. These digital broadcasts provide listeners radically improved sound quality and more FM channels at no cost, when using an HD Radio receiver. Hundreds of stations nationwide broadcast with HD Radio technology.
Until January 31, 2006, anyone who purchases a new HD Radio on eBay or through other retailers will be eligible to receive an additional $20.00 mail -in rebate.
The iBiquity radio trade -in process is completed in four steps:
Step 1: Click on the "Trade in your old radio" link on ebay.com/hdradio.
Step 2: Select the appropriate radio trade -in estimator and receive an instant estimate on the value of the analog radio you plan to trade -in.
Step 3: Upon receipt of a submission acceptance email, print a prepaid shipping label and ship your items to the trade -in center.
Step 4: After receipt of the trade and proof of purchase of any new HD Radio product (including, but not limited to, those purchased on eBay), participants will receive a check from HD Radio for the trade -in value of their old radio.
The following example helps illustrate how the iBiquity program works:
"Tom" has an analog radio that he would like to trade in so he can upgrade to an HD Radio receiver. He goes to www.ebay.com/hdradio and clicks on the "Trade in your old radio" link to find out the estimated value of his old radio is $80. Following the purchase of an HD Radio receiver, he mails in his old radio and the proof of purchase from his new HD Radio receiver to collect his $80 rebate check from HD Radio. Since he completes the trade -in before January 31, 2006, Tom is also eligible for an additional $20 rebate. In this example, Tom saves a total of $100 on his HD Radio receiver purchase.
"Spurred by features such as digital sound, crystal -clear reception, scrolling text and multicasting, consumer interest in HD Radio is on the rise," said David Salemi, Vice President of Marketing, iBiquity Digital Corporation. "The HD Radio trade -in program on eBay provides an easy way for consumers to trade in their old analog radios while helping save money on their HD Radio receiver purchases. It's a terrific program, and one we think will help accelerate consumer adoption of digital AM/FM radio."
The following HD Radio receivers are eligible for the rebate program:
- Alpine (DVA -9965)
- Audio Design Associates (Quadri -tune)
- Boston Acoustics (Recepter Radio® HD)
- Fujitsu/Eclipse (HDR -105 HD Radio tuner box only)
- JVC (KD -SHX900)
- Kenwood (KTC -HR100, Kenwood KTC -HR100MC, KTC -HR100TR, EZ 900 HDS - HD Radio tuner boxes only)
- Panasonic (CQ -CB8901U)
- Polk Audio (i -Sonic Entertainment System)
- Radiosophy™ (Multistream™)
- Rotel (RT -1084 HD)
- Sanyo (ECD HD 1990M)
- Yamaha (RX -V4600)
About iBiquity Digital
iBiquity Digital is the sole developer and licenser of HD Radio technology in the U.S. HD Radio is transforming today's AM and FM radio stations to digital, enabling radically upgraded sound, crystal -clear reception, multicasting and advanced data services such as real -time traffic updates. Over 2,500 radio stations in the U.S. are in the process of converting to the HD Radio system with more than 500 HD Radio broadcasters currently on the air. iBiquity Digital's investors include 15 of the nation's top radio broadcasters, including ABC, Clear Channel and Viacom; leading financial institutions, such as Grotech Capital Group, J.P. Morgan Partners, New Venture Partners, Pequot Capital and J&W Seligman; and strategic partners Ford Motor Company, Harris, Texas Instruments and Visteon. Named one of Deloitte's Fast 500 Companies, iBiquity Digital is a privately held company with operations in Columbia, MD, Detroit, MI, Belmont, CA and Warren, NJ. For more information please visit: www.ibiquity.com.