Cherry SE signs OEM General Agreement with MEDION AG to expand partnership for further MEDION product ranges with CHERRY MX technology

Cherry SE signs OEM General Agreement with MEDION AG to expand partnership for further MEDION product ranges with CHERRY MX technology

Munich, October 4, 2023 – Cherry SE [ISIN: DE000A3CRRN9] today announced that it has signed an OEM General Agreement with MEDION AG to expand its existing partnership in ERAZER gaming laptops to other MEDION product lines featuring CHERRY MX technology.

“This agreement with renowned MEDION AG is a milestone for us in the implementation of our focused OEM strategy to return the MX keyboard switch business to a profitable growth path in the medium and long term in the post-Covid era with a more intense price competition. The positive lock-in effect of this agreement leads to improved procurement, production and sales planning for both partners based on synchronized life cycle planning,” said Oliver Kaltner, CEO of Cherry SE. “I am sure that Cherry, with the MX legacy built over the past 70 years and the high relevance of the current switch portfolio in the market, will make a valuable contribution to MEDION's product lines developed under this agreement. This is where innovation, performance and commitment come together.”

“With the announcement at Gamescom at the end of August that we would consistently expand our partnership with CHERRY MX beyond the best-selling ERAZER flagship gaming laptops, we received a lot of positive feedback from the international expert audience. The agreement that has now been concluded therefore represents an excellent basis for us to work together with the inventor and innovation driver of the mechanical keyboard switch to further enhance our high-performance components in other product ranges and make them available to a broader audience,” adds Christian Eigen, Deputy Chairman of the Management Board of MEDION AG. “We offer products in various sectors and have millions of satisfied customers worldwide. We are always looking for new solutions, new trends and products that make people's lives easier, more comfortable or simply more beautiful. The legendary CHERRY MX keyboard switches are an ideal building block for us on this mission.”

The agreement covers MEDION AG product lines sold under the MEDION® and ERAZER® brands in various marketing channels, as well as the CHERRY MX Ultra Low Profile (ULP) and the CHERRY MX2A and CHERRY MX1A technology generations. The CHERRY MX ULP, which received the German Innovation Award 2022, not only represents a currently unique and ultra-flat solution with an overall height of just 3.5 millimeters, but also demonstrates what is technically possible at the current state of the art in the field of mechanical keyboard switches. This makes it possible to realize fully mechanical high-end keyboards, especially in the notebook sector, which stand out in terms of pleasant typing feel, intensive feedback when gaming or typing, as well as high reliability and particularly high durability.

Under the agreement, which will initially run until December 31, 2025, a gaming keyboard with CHERRY MX keyboard switches will be jointly developed for the ERAZER gaming product line in the fourth quarter of 2023. Further keyboards and a new gaming notebook with CHERRY MX ULP keyboard switches are to follow in 2024. The product lifecycles of MEDION products typically span a period of 18 to 24 months for gaming keyboards and 18 to 32 months for gaming notebooks. The agreement provides for co-branding on the respective MEDION and ERAZER products with the CHERRY MX logo.

Cherry invented the world's first mechanical keyboard switch in the early 1970s and patented it in the USA in 1973. In the 80s, the first CHERRY MX switches revolutionized the keyboard industry. Since then, the CHERRY MX technology, which ensures the highest reliability and performance, is the absolute standard, especially for frequent typists and gamers. The fully automated produced MX switches feature the worldwide unique CHERRY Gold Crosspoint contact system and, after several innovation cycles, now also multiple actuation characteristics for highest reliability and individual requirements. To date, more than 80 billion MX switches have been sold and are used in more than 60 million keyboards worldwide, many with a guaranteed life of 100 million keystrokes. Just a few weeks ago, Cherry began international marketing of the latest MX2A technology generation, which features, among other things, even more precise contact actuation with less than 1ms bounce time, particularly smooth operation with low friction and the absence of a "ping" noise. In addition, MX2A switches reduce plastic waste by more than 90% with exceptionally environmentally friendly packaging and achieve 35% higher packaging density on the pallet. This not only significantly reduces storage space, but also CO2 emissions during transport.

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More information on Cherry SE is available on the Cherry website at https://ir.cherry.de.

About Cherry

Cherry SE [ISIN: DE000A3CRRN9] is a globally operating manufacturer of high-end mechanical keyboard switches and computer input devices such as keyboards, mice, and headsets for applications in the worlds of gaming, e-sports, office and hybrid workplaces, industry, and healthcare. Since it was founded in 1953, Cherry has been synonymous with innovative, high-quality products developed specifically to meet the various needs of its customers.

Cherry has its operational headquarters in Auerbach in Germany's Upper Palatinate region and employs approximately 500 people in production facilities in Auerbach, Zhuhai (China), and Vienna (Austria) as well as in various sales offices in Auerbach, Pegnitz, Munich, Landskrona (Sweden), Paris, Kenosha (USA), Taipei, and Hong Kong.

More information is available online at: https://cherry.de/

Contact:

Dr. Kai Holtmann

Investor Relations

Rosental 7, c/o Mindspace, 80331 Munich, Germany

Postal address: Cherrystrasse 2, 91275 Auerbach, Germany

T +49 (0)175-1971503

F +49 (0)9643 20 61-900

E-mail: kai.holtmann@cherry.de

About MEDION

MEDION is a leading manufacturer of consumer electronics products in Germany and a provider of digital services for everyone. The product range includes smart multimedia products, telecommunications services and electronic accessories with an excellent price-performance ratio and comprehensive after-sales service. Since 2011, MEDION has been part of the international Lenovo Group, a leading global technology company with customers in over 160 countries and successful worldwide with PCs, laptops, smartphones, and servers.