Cautionary Note Regarding Forward-Looking Statements
Statements in the press release regarding China Mobile and Audience, Inc., which are not historical facts, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by terms such as anticipate, believe, expect, may, will, provide, could and should and the negative of these terms or other similar expressions. These statements, including statements relating to expectations of selection of smartphone specifications, selection of certain smartphones by China Mobile and Audience's leadership position in the market are based on current expectations and assumptions that are subject to risks and uncertainties. Audience's actual results could differ materially from those Audience anticipates as a result of various factors, including: Audience's dependence on a single OEM, Samsung, for a substantial portion of its revenue; the transition that Audience's relationship with Apple, Inc. is undergoing; Audience's need to maintain and expand its existing relationships with its OEMs and to establish relationships with new OEMs in order to maintain and increase Audience's revenue; Audience's ability to sustain profitable operations due to its history of losses and accumulated deficit; quarterly fluctuations in its results due to factors such as the timing of OEM product launches, customer purchasing behavior in light of anticipated mobile phone launches and our assessments of whether Audience has excess or obsolete inventory, among other factors; competition in the market for Audience's products; Audience's ability to enter new end user product markets, such as notebooks and smart TVs, as well as new geographic markets; pressure on the average selling prices for Audience's products; Audience's lengthy sales cycle and the lack of certainty as to whether any given OEM's products will achieve market acceptance; Audience's OEMs' lengthy and expensive process to qualify its products; Audience's ability to develop new or enhanced products in a timely manner that achieve market acceptance; Audience's reliance on third parties to manufacture, assemble and test our products; defects that may be present in its products; the impact of future intellectual property litigation and claims for indemnification; changes in tax laws or our ability to utilize Audience's tax structure and net operating losses and other risks inherent in fabless semiconductor businesses. For a discussion of these and other related risks, please refer to "Risk Factors" in our most recent Form 10-Q for the three months ended March 31, 2013, which is available on the SEC's website at www.sec.gov. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Also, forward-looking statements represent our management's beliefs and assumptions only as of the date made. You should review our SEC filings carefully and with the understanding that our actual future results may be materially different from what we expect.
Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
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