China Digital TV Announces Unaudited Fourth Quarter and Full Year 2008 Results

BEIJING — China Digital TV Holding Co., Ltd. (NYSE: STV) (“China Digital TV” or the “Company”), the leading provider of conditional access (“CA”) systems to China’s rapidly growing digital television market, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2008.

Highlights for Fourth Quarter 2008

• China Digital TV shipped approximately 2.66 million smart cards during the fourth quarter, an increase of 2.1% from the corresponding period in 2007 and an increase of 20.1% from the third quarter of 2008.
• According to market data collected by the Company, China Digital TV entered into 16 out of a total of 34 new contracts to install CA systems in China during the fourth quarter of 2008.

Highlights for Full Year 2008

• China Digital TV shipped 9.86 million smart cards in 2008, an increase of 34.8% from 2007. Between the beginning of 2004 and the end of 2008, China Digital TV shipped a total of over 22.8 million smart cards.
• According to market data collected by the Company, China Digital TV entered into 36 out of a total of 66 new contracts to install CA systems in 2008.

Business Outlook

Based on information available on March 10, 2009, China Digital TV expects smart card shipments for the first quarter of 2009 to be in the range of 2.1 million to 2.3 million.

For full year 2009, the Company expects overall smart card shipments to increase approximately 20% compared to full year 2008.

More: Earnings Release