Turtle Beach Corporation Announces Strategic Manufacturing Partnership With Foxconn

SAN DIEGO, Oct. 8, 2015 /PRNewswire/ -- Turtle Beach Corporation (NASDAQ: HEAR), the leading-edge audio technology company and #1 in gaming audio, today announced the Company's strategic partnership with Hon Hai Precision Industry Ltd., also known as Foxconn Technology Group ("Foxconn"), the world's largest contract manufacturer of electronic products and components.

Under the partnership which began late last year, Foxconn is now fully up-and-running manufacturing Turtle Beach's lineup of high-quality gaming headsets, as well as the Company's first-of-its-kind hearing healthcare product for people with hearing loss, HyperSound Clear™, at their facilities in China and Mexico.

"This is a substantial step in our operational transformation, designed to increase agility, visibility and consistency at the front end of our supply chain network," said Robert Andris, Senior Vice President of Global Supply Chain Operations, Turtle Beach Corporation. "Adding Foxconn as a key global manufacturing partner, in conjunction with our recently announced global logistics partnership with Keuhne + Nagel – two of the best in the business in their respective fields – frames our supply chain development strategy, which is designed to support Turtle Beach's market expansion as we manage costs, optimize inventory and maintain superior product quality."

"We are excited to be selected as a strategic partner to Turtle Beach, a company known for their innovative, technology-driven products and global leadership in gaming audio," said Mark Chien, Senior Executive Vice President, Foxconn. "We look forward to leveraging our strong expertise in high-quality consumer electronics manufacturing to deliver their groundbreaking HyperSound Clear product to consumers later this year."

"We're continuing to enhance our global supply chain operations to support corporate objectives for our gaming headset business and products based on our innovative HyperSound^® technology" said Juergen Stark, CEO, Turtle Beach Corporation. "Partnering with Foxconn allows us to continue development of our market-leading audio technologies while leveraging their world-class electronics manufacturing capabilities and global footprint."

Turtle Beach continues to bring its patented, innovative products to market. This year the Company has already launched a variety of new, high-quality gaming headsets, including its top-of-the-line, 100% fully wireless Xbox One gaming headset – the Turtle Beach Elite 800X, with a handful more gaming headsets planned to enter the market leading into the holidays. Additionally, HyperSound Clear – which has been shown to improve sound clarity and speech intelligibility for people with hearing loss for a crisp, clear home entertainment listening experience – is planned to launch this fall.

About Turtle Beach Corporation
Turtle Beach Corporation (www.turtlebeachcorp.com) designs leading-edge audio products for the consumer, commercial and healthcare markets. Under the Turtle Beach brand (www.turtlebeach.com), the Company markets a wide selection of quality gaming headsets catering to a variety of gamers' needs and budgets, for use with video game consoles, including officially-licensed headsets for the Xbox One and PlayStation^®4, as well as for personal computers and mobile/tablet devices. Under the HyperSound brand (www.hypersound.com), the Company markets pioneering directed audio solutions that have applications in digital signage and kiosks, consumer electronics and healthcare. The company's shares are traded on the NASDAQ Exchange under the symbol: HEAR.

Forward-Looking Statements
This press release includes forward-looking information and statements within the meaning of the federal securities laws. Except for historical information contained in this release, statements in this release may constitute forward-looking statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events. Forward looking statements are based on management's statements containing the words "may", "could", "would", "should", "believe", "expect", "anticipate", "plan", "estimate", "target", "project", "intend" and similar expressions constitute forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. Forward-looking statements are based on management's current belief, as well as assumptions made by, and information currently available to, management.

While the Company believes that its expectations are based upon reasonable assumptions, there can be no assurances that its goals and strategy will be realized. Numerous factors, including risks and uncertainties, may affect actual results and may cause results to differ materially from those expressed in forward-looking statements made by the Company or on its behalf. Some of these factors include, but are not limited to, the substantial uncertainties inherent in acceptance of existing and future products, the difficulty of commercializing and protecting new technology, the impact of competitive products and pricing, general business and economic conditions, risks associated with the expansion of our business including the implementation of any businesses we acquire, our indebtedness, and other factors discussed in our public filings, including the risk factors included in the Company's most recent Annual Report on Form 10-K and the Company's other periodic reports. Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the Securities and Exchange Commission, the Company is under no obligation to publicly update or revise any forward-looking statement after the date of this release whether as a result of new information, future developments or otherwise.

SOURCE Turtle Beach Corporation

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