ZHUHAI, China, Dec. 27, 2012 /PRNewswire/ -- Actions Semiconductor Co., Ltd. (Nasdaq: ACTS), one of China's leading fabless semiconductor companies that provides comprehensive portable multimedia and mobile internet system-on-a-chip (SoC) solutions for portable consumer electronics, and Ainol Electronic Co., Ltd., a leading brand Consumer Electronics (CE) company based in Shenzhen, China, today announced the introduction of the Ainol Novo 10 Hero, a 10.1" Tablet product featuring the Owl Series ATM7029 chipset from Actions Semiconductor. 

Actions' ATM7029 chipset supports Android^TM 4.1(Jelly Bean) operating system and will also support the upgrade to Android^TM 4.2. With the ARM® Cortex^TM multi-core CPU, multi-core 3D GPU, full spec 1080p video encode/decode engine and USB2.0/3.0 PHY integration, the ATM7029 provides unprecedented levels of performance and power efficiency.

"As a leading Consumer Electronic brand in China, we are proud of the partnership with Actions Semiconductor. It's really exciting to be the first one who delivers products integrating Actions' ATM7029 chipset," stated Mr. Zaimin Wang, General Manager of Ainol. "In the fast-paced consumer electronics business, time-to-market and innovation is critical for solution providers, and more important, to our end-user customers. Through the high performance of the ATM7029 chipset, we believe our customers will enjoy the complete user experience of our product," concluded Mr. Wang.

"In our view, the partnership with the leading brand, Ainol, is a major milestone for Actions Semiconductor as we are one of the first companies in China to provide the multi-core CPU SoC beyond dual CPU solution to the Tablet market," commented Dr. Zhenyu Zhou, CEO of Actions Semiconductor. "ATM7029 is the first chipset of Actions' Owl Series. Ainol's decision to utilize our ATM7029 chipset for its Novo 10 Hero Tablet affirms their confidence in the integrity and performance of our products. Together, Actions and Ainol will satisfy the needs of our customers by delivering tablet products with the best price-to-performance ratio. We are excited about this product introduction and our continued work with numerous OEM and design house partners to develop new solutions utilizing our ATM7029 technology," concluded Dr. Zhou.

About Ainol Electronic

Ainol Electronic is a leading brand Consumer Electronics (CE) company in Shenzhen, China. Since its inception in 2004, Ainol has risen through the ranks of the consumer electronics industry. Ainol is focused on offering innovative, feature-rich products and solutions that are consistent market share leaders. Ainol is a leader in supplying turnkey solutions and major components for the Digital Video and Audio consumer electronics markets. Additional information can be found at www.ainol.com.

About Actions Semiconductor                                                             

Actions Semiconductor is one of China's leading fabless semiconductor companies that provides comprehensive portable multimedia and mobile internet system-on-a-chip (SoC) solutions for portable consumer electronics. Actions Semiconductor products include SoCs, firmware, software, solution development kits, as well as detailed specifications of other required components. Actions Semiconductor also provides total product and technology solutions that allow customers to quickly introduce new portable consumer electronics to the mass market in a cost effective way. The company is headquartered in Zhuhai, China, with offices in Shanghai and Shenzhen. For more information, please visit the Actions Semiconductor website at http://www.actions-semi.com.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995

Statements contained in this release that are not historical facts are forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements concerning signs of positive indicators in the industry for next year, growth in the market driven by continued proliferation of applications within the PMP market and incremental rebound of overall demand for these products, Actions Semiconductor's belief that it is positioned to capture some upside from these trends, and Actions Semiconductor's future expectations with respect to revenue, gross margin, operating expenses and share-based compensation expense.  Actions Semiconductor uses words like "believe," "anticipate," "intend," "estimate," "expect," "project" and similar expressions to identify forward-looking statements, although not all forward-looking statements contain these words. These forward-looking statements are estimates reflecting current assumptions, expectations and projections about future events and involve significant risks, both known and unknown, uncertainties and other factors that may cause Actions Semiconductor's actual performance, financial condition or results of operations to be materially different from those suggested by the forward-looking statements including, among others, customers' cancellation or modification of their orders; our failure to accurately forecast demand for our products; the loss of, or a significant reduction in orders from, any of our significant customers; fluctuations in our operating results; our inability to develop and sell new products; defects in or failures of our products; the expense and uncertainty involved in our customer design-win efforts; the financial viability of the distributors of our products; consumer demand; worldwide economic and political conditions; fluctuations in our costs to manufacture our products; our reliance on third parties to manufacture, test, assemble and ship our products; our ability to retain and attract key personnel; our ability to compete with our competitors; and our ability to protect our intellectual property rights and not infringe the intellectual property rights of others. Other factors that may cause our actual results to differ from those set forth in the forward-looking statements contained in this press release and that may affect our prospects in general are described in our filings with the Securities and Exchange Commission, including our most recently filed Forms F-1, 20-F and 6-Ks. Other unknown or unpredictable factors also could have material adverse effects on Actions Semiconductor's future results, performance or achievements. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed in this press release may not occur. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated, or if no date is stated, as of the date of this press release. Except as required by law, Actions Semiconductor undertakes no obligation and does not intend to update or revise any forward-looking statement to reflect subsequent events or changed assumptions or circumstances.

SOURCE Actions Semiconductor Co., Ltd.