iRiver

iriver (formerly iRiver) is a brand and division of ReignCom, manufacturer of digital audio players and other portable products. They typically include USB mass storage, or the Media Transfer Protocol, multiple codecs, FM tuners, recording capabilities, and upgradeable firmware. more...

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Headquartered in Seoul, South Korea, iriver is the consumer electronics marketing arm of ReignCom, a company founded in 1999 by seven former Samsung executives.

History

In 1999, Duk-Jun Yang and Rae-Hwan Lee left Samsung Electronics, along with five colleagues. They formed ReignCom, with Yang as CEO, originally as a semiconductor distributor, then decided to capitalize on the growing MP3 player market. They decided to outsource manufacturing to AV Chaseway, located in Shenzhen, China, and contract product design to INNO Design, an industrial design company in Palo Alto, CA, while keeping R&D in-house.

Their first iriver product was the iMP-100, a portable CD player capable of decoding MP3 data files on CDs, released in November, 2000. It and a later model, the iMP-250, were rebranded and sold by SonicBlue in the United States under the Rio Volt name. Iriver sold later models with its own SlimX brand, billing them as the thinnest MP3 CD players in the world, before jumping to other types of players. The company rose to the No. 1 position in the global market, before being displaced by the iPod's introduction.

In 2002, iriver scrambled to develop its first flash memory player to meet demand from the U.S. Best Buy chain. A year later, it was first to market with 512 MB and 1 GB players, and completed its IPO at KOSDAQ, a Korean stock exchange. By this time, the company was also selling hard drive players to compete with the iPod. It also used adult film star Jenna Jameson and an Audrey Hepburn lookalike as spokesmodels promoting its products.

iriver adopted a new marketing strategy in 2005, attempting to grab mindshare from Apple. It referred to the U10 flash player as the thumb thing. This referred to users controlling their MP3 devices with their thumbs, just as they do their cell phones and text messaging devices. The company also announced plans for digital audio players featuring Internet telephony.

iriver's U.S. unit, based in Vancouver, WA, held 3.4% of the U.S. MP3 player market in 2005, according to IDC. The company targets early adopters among American users as it tries to regain dominance of the category. It also opened sales divisions in Brazil, Germany, Hong Kong and Japan.

Read more at Wikipedia.org