To Bring Exceptional Visual Display Solutions for Mobile Products Built on MediaTek's Dimensity 5G Open Resource Architecture

SHANGHAI, Dec. 16, 2021 — (PRNewswire) —  Pixelworks, Inc. (Nasdaq: PXLW), a leading provider of solutions for innovative video and display processing, today announced that it has entered into an independent software vendor agreement with MediaTek, a world-renowned fabless semiconductor company. The cooperation will focus on collaborative efforts to extend the availability of advanced visual display processing for mobile products based on MediaTek's Dimensity 5G Open Resource Architecture. As a shared goal of the cooperation, both companies aim to provide highly demanded visual technology support for OEMs in the production of high-end 5G smartphones.

MediaTek recently launched its new generation flagship mobile platform, Dimensity 9000. This new mobile platform leads the industry by embracing leading-edge TSMC N4 (4nm-class) production and the new Arm-v9 architecture CPUs to deliver unparalleled performance, successfully setting a new benchmark for the flagship-smartphone chip market. Pixelworks has more than two decades of technology innovation in the field of visual processing and currently holds over 300 patents related to the visual display of video and digital images. With the recent launch of its latest X7 visual processor, Pixelworks has strengthened its visual display advantages for mobile gaming while also meeting the diverse display requirements of mobile products.

The cooperation with MediaTek is a key milestone for Pixelworks toward expanding the availability of its dedicated visual technology across a broader and open mobile platform. Through the joint efforts with this strategic partner as well as others, Pixelworks is actively working to develop solutions applicable to more visual display scenarios and proliferate enhanced user experiences that benefit the entire mobile ecosystem.

Pixelworks' Pro Software solution will improve the visual display performance of mobile devices built on the MediaTek Dimensity 5G Open Resource Architecture. Combined with Pixelworks industry-leading display calibration, the Dimensity 5G Open Resource Architecture empowers OEMs to leverage the full range of quality improvement features enabled by Pixelworks' cutting-edge visual processing algorithms, including real-to-life color for all Apps and optimized visual content spanning the sRGB, DCI-P3, and custom color gamuts. Whether immersed in gaming, watching movies or simply reliving moments through user-captured photos, the solution guarantees that end users always see images exactly how they should look and feel. As part of ongoing strategic cooperation, additional advanced Pro Software features are in development and planned for release in the near future.

"Color accuracy is the foundation for creating and delivering an immersive visual experience. The cultivation of an authentic visual environment is a prerequisite for reproducing or reshaping content, which is key to seamlessly merging virtual content with the real world," said Dr. JC Hsu, Corporate VP and GM of MediaTek's Wireless Communications Business Unit, "Pixelworks' expertise in visual processing and display performance has been successfully verified in numerous mobile products launched in recent years. We believe that our cooperation and the coupling of MediaTek's Dimensity 5G Open Architecture with Pixelworks' visual processing technology will bring significant and stunning visual quality in next-generation devices, resulting in enhancement of the end user experience in multiple dimensions."

"It's very exciting to cooperate with MediaTek," said Todd DeBonis, President and CEO, Pixelworks.  "The Dimensity 5G Open Architecture provides smartphone manufacturers and technology partners with unique access to fundamental design resources, which enables further enhancement of algorithms for visual quality and creation of differentiated high-end 5G mobile products. Additionally, MediaTek's rich 5G mobile chip portfolio provides OEMs a solid platform for delivering excellent performance in mobile products. MediaTek's forward-looking business deployment strategy in the areas of AI and mobile gaming is directly aligned with Pixelworks' visual technology roadmap for next-generation applications. We look forward to continued cooperation and in-depth technology exchanges with MediaTek, as we work together to eliminate the visual boundary between the real and virtual worlds."

About MediaTek Inc.

MediaTek Incorporated (TWSE: 2454) is a global fabless semiconductor company that enables nearly 2 billion connected devices a year. The Company is a market leader in developing innovative systems-on-chip (SoC) for mobile device, home entertainment, connectivity and IoT products. The Company's dedication to innovation has positioned as a driving market force in several key technology areas, including highly power-efficient mobile technologies, automotive solutions and a broad range of advanced multimedia products such as smartphones, tablets, digital televisions, 5G, Voice Assistant Devices (VAD) and wearables. MediaTek empowers and inspires people to expand their horizons and achieve their goals through smart technology, more easily and efficiently than ever before. MediaTek works with the brands people love to make great technology accessible to everyone, and it drives everything we do. Visit www.mediatek.com for more information.

About Pixelworks

Pixelworks (NASDAQ: PXLW) provide industry-leading content creation, video delivery and display processing solutions and technology that enable highly authentic viewing experiences with superior visual quality, across all screens – from cinema to smartphone and beyond. The Company has more than 20 years of history delivering image processing innovation to leading providers of consumer electronics, professional displays and video streaming services. For more information, please visit the company's web site at www.pixelworks.com.

Note: Pixelworks and the Pixelworks logo are registered trademarks of Pixelworks, Inc. All other trademarks are the property of their respective owners.

Safe Harbor Statement

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may be identified by use of terms such as "begin," "continue," "will," "expect", "believe," "anticipate" "projected" and similar terms or the negative of such terms, and include, without limitation, statements about the launch dates of smartphones containing Company's products.  Such statements are based on management's current expectations, estimates and projections about the Company's business. These statements are not guarantees of future performance and involve numerous risks, uncertainties and assumptions that are difficult to predict. Actual results could vary materially from those contained in forward looking statements due to many factors, including, without limitation: our ability to execute on our strategy; competitive factors; the success of our products in expanded markets; current global health and economic challenges, including the impact of COVID-19; and changes in our target markets, including as to demand. More information regarding potential factors that could affect the Company's financial results and could cause actual results to differ materially from those discussed in the forward-looking statements is included from time to time in the Company's Securities and Exchange Commission filings, including its Annual Report on Form 10-K for the year ended December 31, 2020, as well as subsequent SEC filings.

The forward-looking statements contained in this release are as of the date of this release, and the Company does not undertake any obligation to update any such statements, whether as a result of new information, future events or otherwise.

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SOURCE Pixelworks, Inc.

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Company Name: Pixelworks, Inc., MediaTek Inc. Investor Contact: Brett L Perry, Shelton Group, P: 214-272-0070, E: Email Contact Media Contact: Emily Yu, Pixelworks, Inc., E: Email Contact Financial data for Pixelworks, Inc., MediaTek Inc.