NewswireToday - /newswire/ -
Oslo, Norway, 2014/10/08 - In Jan 2014 IDEX announced an initial volume order for 300,000 units from World Wide Touch Technology (Holdings) Limited (WWTT) for fingerprint sensors based on IDEX unique swipe technology - WWTT.hk / IDEX.no. OSE: IDEX
Following the successful evaluation of IDEX’s new touch based sensor technology, we have now jointly agreed with WWTT to convert the initial order from swipe to touch sensors reflecting the strong positive market reaction to these devices. These sensors will be incorporated into the WWTT Finger Q product line which is a smart biometric security system consisting of a range of mobile peripherals and a proprietary secure software solution.
Kelvin Wong, CEO of WWTT commented “WWTT showcased our FingerQ product with the IDEX touch sensors at the Mobile Asia Expo in Shanghai. The market response was positive as IDEX’s first generation touch sensor is very well suited to our mobile accessories product line. We are pleased to continue to develop our partnership with IDEX.”
The value of the order from WWTT remains unchanged. Initial shipment of sensors have begun and larger volumes as part of this order will be shipped from IDEX in Q4 of 2014.
Since the initial order from WWTT, demand for fingerprint based biometric sensors has continued to increase across a wide range of consumer electronics applications. Touch sensors have seen particularly strong growth due to the excellent customer experience they deliver and their small size, as is evidenced by the adoption of this technology in the Apple iPhone.
The IDEX touch sensor is extremely well adapted to this need for compact, high performance devices that can be manufactured in large volume for Smartphones and Mobile payments devices at very competitive costs. This sensor is part of a new family of sensors which IDEX will launch over the next year through the strong relationships IDEX has forged with its strategic partners Crucialtech and Cypress. This new generation of products will deliver a step-change in performance, size, cost and capability to the fingerprint biometric sensor market.
“WWTT’s selection of our 1st generation mobile ready touch sensor reinforces the fact that our IDEX touch sensor meets the wide market demand for small sensors which need excellent user experience. Our unique IDEX advanced pattern matching algorithms deliver exceptional biometric performance with these small touch sensors by more effectively capturing and processing all the image data to give very accurate recognition levels. This was only possible before by using much larger sensors because the traditional technique of using minutiae matching algorithms needed much bigger images to work effectively. Though we continue to use this traditional matching technology to great effect in our best-in-class range of swipe sensors which generate the large images needed, we are pleased that by introducing these new pattern matching technologies we are able to launch our first generation of touch sensors into the mobile device market.” said Dr. Hemant Mardia, CEO of IDEX.
About World Wide Touch Technology
World Wide Touch Technology (Holdings) Limited (“WWTT”) was incorporated in
2009. WWTT and its subsidiaries (the “WWTT Group”) are principally engaged in the manufacturing of a range of high-technology products; trading and providing services with respect to automation-related equipment; and strategic investment and development in technologies mainly relating to biometric security, high- speed wireless data transmission and communications.
Since July 2013, the WWTT Group (wwtt.hk) has expanded biometric service offerings and launched the world’s first biometric fingerprint privacy protection platform and devices FingerQ and PrivacQ to strengthen its position as the leading provider of patented biometric security solutions.
With a vision to become the purveyor “life technologies” that facilitate and improve the daily lives of the users, the WWTT Group strives to employ cutting- edge technologies in its products and implement strategic development plans in an effort to promote the diversification of its product mix, as well as to enlarge its market share.
WWTT has been listed on The Stock Exchange of Hong Kong Limited since 15 December 2010.
IDEX ASA (idex.no) specialises in fingerprint imaging and recognition technology. The company has a strong patent portfolio consisting of more than 20 patent families including more than 200 granted patents, including cross license with Apple. IDEX has a highly competitive product road map including swipe sensors, touch sensors with disruptive cost positions, and a unique in-glass solution. The company is currently in the process of commercialising the products.
IDEX’s addressable market represents a multi-billion unit opportunity, centred on three core markets: Mobile, ID & Smart Cards and the Internet of Things. IDEX has seen a substantial increase in interest from global OEMs in the last quarters, and is positioned as of three independent players with the relevant IP to capture market share.
IDEX ASA is a Norwegian public company listed at the Oslo Axess market place on the Oslo Børs (Oslo stock exchange).
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.