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| - World intellectual property licensing leader MPEG LA, LLC ("MPEG LA") and leading international supplier of smartphones and other smart products Xiaomi today announced that Xiaomi has become a Licensee to MPEG LA's HEVC Patent Portfolio License ("HEVC License"). MPEG LA's HEVC License enables worldwide access to essential patent rights for the HEVC digital video coding standard (also known as H.265 and MPEG-H Part 2) providing increased speed and efficiency in consumer products that encode and decode video for Internet, television and mobile transmission, reception and use. "Xiaomi joins some 350 Licensees to MPEG LA's HEVC Patent Portfolio License, further demonstrating the License's wide acceptance as fair and reasonable," said Larry Horn, President and CEO of MPEG LA. "The License's affordable royalty rate and clear, nondiscriminatory terms are the same across all markets worldwide in all products in which HEVC technology is incorporated, and MPEG LA's objective is to include as many HEVC essential patents as possible for the same reasonable royalty rate." "Significant implementers of HEVC technology like Xiaomi receive offers to join multiple HEVC patent pools. While Xiaomi believes the pool licensing approach can be very efficient, multiple patent pools present harmful royalty stacking issues to technology implementers. Therefore, Xiaomi strongly encourages consolidation into one pool that offers a fair and reasonable royalty for the whole HEVC standard," said Paul Lin, Vice President of IP Strategy and Global Business Development of Xiaomi. MPEG LA, LLC MPEG LA is the world's leading provider of one-stop licenses for standards and other technology platforms. Starting in the 1990s, it pioneered the modern-day patent pool helping to produce the most widely used standards in consumer electronics history and is expanding access to other groundbreaking technologies. MPEG LA has operated licensing programs for a variety of technologies consisting of more than 22,000 patents in 91 countries with some 250 patent holders and more than 6,000 licensees. By assisting users with implementation of their technology choices, MPEG LA offers licensing solutions that provide access to fundamental intellectual property, freedom to operate, reduced litigation risk and predictability in the business planning process. For more information, go to www.mpegla.com. Xiaomi Xiaomi Corporation was founded in April 2010 and listed on the Main Board of the Hong Kong Stock Exchange on July 9, 2018 (1810.HK). Xiaomi is an internet company with smartphones and smart hardware connected by an IoT platform at its core. With the vision of being friends with its users and being the "coolest company" in the hearts of its users, Xiaomi is committed to continuous innovation, with an unwavering focus on quality and efficiency. The company relentlessly builds amazing products with honest prices to let everyone in the world enjoy a better life through innovative technology. Xiaomi is currently the world's fourth-largest smartphone brand, and has established the world's leading consumer IoT platform, with more than 213 million smart devices connected to its platform, excluding smartphones and laptops. Currently, Xiaomi products are present in more than 90 countries and regions around the world and have a leading foothold in many of them. In July 2019, the company made the Fortune Global 500 list for the first time, ranking 468th among all, and 7th among internet companies. Xiaomi is the youngest company on the 2019 Fortune Global 500 list. View source version on businesswire.com: Contact Tom O'Reilly MPEG LA, LLC Tel: 303.200.1710 toreilly@mpegla.com © 2020 Business Wire, Inc. Disclaimer: This material is not an AFP editorial material, and AFP shall not bear responsibility for the accuracy of its content. In case you have any questions about the content, kindly refer to the contact person/entity mentioned in the text of the release.
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