Xperi Corporation has inked an agreement with China-based electronics maker Skyworth to build smart television sets that are powered by the company’s TiVo operating system.
The affirmation was made on a conference call with investors on Wednesday, with Skyworth being the fifth television original equipment manufacturer, or OEM, to agree to license the TiVo OS from Xperi since last year.
Xperi’s other TiVo OS partners include Vestel, Sharp, Konka and Argos, with the latter set to debut TiVo OS-powered television sets later this spring, executives affirmed.
Vestel has started shipping TiVo OS-powered sets in several European countries, including the United Kingdom and Germany, with TVs bearing recognizable brands like Telefunken and JVC.
In Europe, Xperi faces an easier road toward accruing streaming market share compared to the United States, where Amazon’s Fire TV and Roku’s streaming operating system command 80 percent of the market. Overseas, the market is more fractured, with Samsung, LG, Hisense’s VIDAA, Amazon, Roku and Google-backed Android TV shipping a wide variety of smart TVs and streaming dongles.
Xperi is hoping it can ship more than 2 million TiVo-powered television sets by the end of the year, and grow its customer base to 7 million smart TVs by 2025.
Last August, executives said they hope to begin offering TiVo-powered TV sets in the United States later this year. Domestically, Xperi continues to offer traditional TiVo digital video recorders (DVRs) for sale, which use either a broadcast TV antenna or a cable TV subscription to pull in and record linear programming. Xperi also sells an Android TV dongle called the TiVo Stream 4K, which includes a dedicated TiVo app powered by the company’s content recommendation engine.
On Wednesday, Xperi reported a loss of $24.8 million on revenue of $137.2 million during the fourth quarter (Q4) of 2023. For the year, Xperi said it lost $136.6 million on revenue of $521.3 million.
The company said to generate about the same amount of cash in 2024, with guidance for full-year revenue around $500 million to $530 million.
Xperi’s stock price was down 2.7 percent by late afternoon Thursday, with shares trading around $10.95.
