LG Unveils Blu-ray Player with Streaming Capacity

NEW YORK, July 31: A new
Blu-ray Disc player being unveiled tonight by LG Electronics will be capable of
streaming movies and TV episodes directly from Netflix to the TV set.

The player builds upon a
technology partnership announced between LG and Netflix earlier this year to
develop a set-top box that would stream movies and TV content from the Internet
to TV sets. The device will play high-definition Blu-ray discs, up-convert
standard DVDs to 1080p and allow Netflix subscribers to instantly stream more
than 12,000 choices of movies and TV episodes for no additional charge.

The BD300 Network Blu-ray
Disc Player will be available at retail this fall.

"As Blu-ray player
sales are expected to triple in three years, consumers are craving content and
seeking a premium home-entertainment experience," said Teddy Hwang, the
president of LG Electronics USA. "The BD300 is another LG industry first
and provides consumers with an advanced high-def disc player with unparalleled flexibility
and networked access for services such as Netflix."

"LG Electronics is
establishing itself as the innovation leader in consumer electronics, combining
the best of broadband and Blu-ray connectivity," added Reed Hastings,
Netflix’s co-founder, chairman and CEO. "LG Electronics was the first of
our technology partners to publicly embrace our strategy for getting the
Internet to the TV, and is the first to introduce a Blu-ray player that will
instantly stream movies and TV episodes from Netflix to the TV."

—By Mansha Daswani