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This paper studies the problem of stabilization of discrete-time linear systems with input delay and saturation nonlinearity. By exploring some further intricate properties of the recently developed parametric Lyapunov equation-based low-gain feedback design approach, solutions are proposed to solve the problems by both state feedback and output feedback. This new approach is not only simpler than the existing method that is based on the eigenstructure assignment technique, but also provides explicit conditions on the low-gain parameter to guarantee the stability of the closed-loop system. Moreover, it is possible by adjusting the low-gain parameter online to achieve global results when the system is subject to both input saturation and time-delay. Also, the delay in the input is allowed to be time-varying in some cases.