$Netlist (NLST)$ Netlist And LG Electronics To Actively Cooperate On Development Of HyperVault Mobile Memory Controller

IRVINE, Calif., April 28, 2015 /PRNewswire/ -- Netlist, Inc. (NASDAQ: NLST), a leading provider of high performance memory solutions for the cloud computing and storage markets, today announced that it has entered into a Letter of Intent ('LOI") with LG Electronics, Inc. (LG) to jointly work on a HyperVault Mobile Memory Controller (HVMMC) with the intention of adopting HVMMC on a next generation mobile system of LG Electronics.

Netlist logo
Under the LOI, it is expected that Netlist and LG would combine the strengths of both companies to actively cooperate to build a superior mobile memory controller for smart phones. The new HVMMC would benefit the end user by allowing a mobile system to reduce DRAM density, and therefore lower costs, without loss of system performance. The worldwide shipment of smartphones is anticipated to reach 1.9 billion units by 2018 according to forecasts by CCS Insight. It is expected that a growing share of those units will use a minimum of 3GB of DRAM or above.

"Cooperation with LG, a leader in the mobile industry is a strong endorsement of Netlist's next generation HyperVault technology," said C.K Hong, President and CEO of Netlist. "HyperVault Mobile provides a more efficient and cost effective solution to meet the expanding memory needs of mobile devices without sacrificing performance. We look forward to working with LG on the design and development of this innovative new controller as the growth in the mobile market fuels the need for more powerful devices. The development of HyperVault Mobile is an important investment for both companies."