HUMAX supplies KT with 22 billion won worth of IPTV Set-Top Box

Sales of IPTV Set-Top Box initialized; Set-Top Box sales initialized after activation of IPTV market; 40 billion won in sales expected this year in domestic IPTV sector

Global digital consumer products company HUMAX (KOSDAQ:028080) has announced that an additional supply agreement has been finalized with KT Corporation (Seoul:030200)(NYSE:KTC) for provision of 22 billion won scale of IPTV Set-Top Box.

The streaming system HD grade IPTV Set-Top Box (Model Name: TS-110) with real-time broadcasting service functions will be supplied until the early half of this year.

This supply agreement is a result of aggressive marketing activities by KT, which has the objective of raising 1.5 million IPTV service subscribers by the end of this year. It is significant in that sales of IPTV Set-Top Boxs will rapidly increase with the activation of the IPTV market.

Competition for market dominance among telecommunication companies have heightened following the recent passing of the IPTV law. With the upcoming release of the full IPTV service including ground wave real-time broadcasting at the latter half of this year, HUMAX is expecting a continuous increase in sales. Particularly, the number of subscribers in ‘Mega TV’, an IPTV service provided by KT, has reached over 500,000 subscribers and has continuously been rising.

KT’s Set-Top Box supplier HUMAX is expected to reach up to 40 billion won in sales during the initial stages of the IPTV service in the domestic IPTV Set-Top Box sector this year.