Industry News 1/9/2014

B$Z: Skullcandy Announces Strategic Relationship With Toshiba

Skullcandy Announces Strategic Relationship With Toshiba to Bring Leading Performance and Lifestyle Audio to Consumer Laptops
Press Release from Skullcandy

PARK CITY, Utah (GLOBE NEWSWIRE) -- Skullcandy, Inc. (Nasdaq:SKUL) today announced a strategic relationship with Toshiba Corporation. Under terms of the agreement, Toshiba will license the Skullcandy trademark for marketing and distribution of consumer laptops worldwide, excluding China, and Skullcandy will provide professional services to enhance the audio experience of Toshiba's products.

"We are very excited to extend the reach of Skullcandy's leading audio capabilities by partnering with Toshiba," said Brent Wilkins, Vice President, Global Business Development of Skullcandy. "Toshiba is a recognized leader in personal electronics with a strong consumer following around the world. This partnership represents a global opportunity to enhance Toshiba consumers' audio experiences through our proprietary Supreme Sound performance audio. Supreme Sound was internally developed in Park City by our Advanced Concepts and Engineering team to provide the ultimate in audio quality featuring a full range of attacking bass, natural vocals and precision highs."

"We are always striving to improve the consumer experience and feel Skullcandy's proprietary Supreme Sound performance audio will help further strengthen our ability to deliver superior sound quality to our consumers and provide us a competitive advantage in the marketplace," said Carl Pinto, Vice President of Marketing and Engineering, Toshiba America Information Systems, Inc., Digital Products Division. "Skullcandy is a leading performance and lifestyle brand with authentic youth culture positioning and we are excited to partner with them across our robust portfolio of personal computers."

About Skullcandy, Inc.
Skullcandy is the leading global lifestyle and performance audio brand driven by the creativity and irreverence of youth culture. Skullcandy designs, markets and distributes audio and gaming headphones and other related products under the Skullcandy, Astro Gaming and 2XL by Skullcandy brands. Skullcandy was launched in 2003 and quickly became one of the world's most distinct audio brands by bringing unique technology, color, character and performance to an otherwise monochromatic space; helping to revolutionize the audio arena by introducing headphones, earbuds and other audio and wireless lifestyle products that possess unmistakable style and exceptional performance. The Company's products are sold and distributed through a variety of channels in the U.S. and approximately 80 countries worldwide. Visit skullcandy.com, or join us at facebook.com/skullcandy or on Twitter @skullcandy.

About Toshiba Corporation
Toshiba is a world-leading diversified manufacturer, solutions provider and marketer of advanced electronic and electrical products and systems. Toshiba Group brings innovation and imagination to a wide range of businesses: digital products, including LCD TVs, notebook PCs, retail solutions and MFPs; electronic devices, including semiconductors, storage products and materials; industrial and social infrastructure systems, including power generation systems, smart community solutions, medical systems and escalators & elevators; and home appliances. Toshiba was founded in 1875, and today operates a global network of more than 590 consolidated companies, with 206,000 employees worldwide and annual sales surpassing 5.8 trillion yen (US$61 billion). Visit Toshiba's web site at
www.toshiba.co.jp/index.htm.

Forward-Looking Statements
Certain statements in this press release and oral statements made from time to time by representatives of Skullcandy are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, statements regarding the Company's anticipated future financial and operating results and any other statements about the Company's future expectations, beliefs or prospects expressed by management are forward-looking statements. These forward-looking statements are based on management's current expectations and beliefs, but they involve a number of risks and uncertainties that could cause actual results or events to differ materially from those indicated by such forward-looking statements. Important factors that could cause actual results to differ materially from expectations are disclosed under the "Risk Factors" section of the 2012 10-K filed with the Securities and Exchange Commission ("SEC") on March 13, 2013 and in any subsequent reports we file with the SEC. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not undertake any obligation to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise.