The orders are towards an OEM smartphone manufacturer for a device to be distributed by a major wireless carrier, as announced on December 21, 2015. IDEX started to ship sensors to the customer in Q1 2016 and expect to fulfill the current orders in Q2 2016.
“We are very pleased to receive follow-on volume production orders,” said Dr. Hemant Mardia, CEO of IDEX. “This handset is expected to be launched to consumers by the tier-one mobile OEM in late Q2 2016, and is a huge milestone for IDEX. We believe it serves as strong validation of our products for other customers”.
Building on the successful deployment of Cardinal Q IDEX is pleased to also announce its latest offering within the Cardinal series. The new Cardinal N sensor is the latest evolution in IDEX’s on-chip, low-cost capacitive fingerprint sensor, design specifically to address to ultra-small, low-profile fingerprint sensing applications. With an extremely thin rectangular touch sensor form factor, Cardinal N enables both integration on the side of today’s ultra slim smart phones as well as front side mounting. Cardinal N is now qualified for volume production and is currently being evaluated by select mobile OEMs.
Dr. Mardia added,“We are now seeing a polarization of demand in the mobile market as adoption of fingerprint sensors extends into more low- and mid-end smart phones. Many OEMs want a very small form factor at low cost. Our Cardinal family of sensors with their extremely compact footprint and excellent performance cater to this, and we continue to develop new products. We are also addressing the growing demand for medium sized sensors with uncompromised image performance and biometric quality. Our off-chip Eagle sensor allows us to target this segment with a competitive price/performance ratio.”
IDEX (idex.no) has developed the world’s most advanced fingerprint imaging, recognition and authentication technology. IDEX’s innovative Intellectual Property (IP) is protected by a comprehensive portfolio of 47 granted and pending patent families, which continues to grow through ongoing innovation.
The IDEX business model is based on designing innovative fingerprint sensor IP and products, which IDEX sells and licenses global Original Equipment Manufacturers (OEM) partners. These partners utilise IDEX IP in a range of biometrically enabled products. The customersare either purchasing IDEX fingerprint sensor units or paying a royalty on units they produce. IDEX’s addressable market represents a multi-billion unit opportunity, centred on three core markets:
· Mobile Devices;
· ID security and Smart Cards;
· The Internet of Things.
IDEX has an exciting and competitive product ready 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 these products and has recently announced a number of important OEM partnerships and end user design wins.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.