IDEX business update 30 June 2014
IDEX has made significant progress in the second quarter of 2014, executing on our strategy to commercialise our advanced fingerprint sensor solutions for mass market opportunities.
We have already supplied samples of our products to over 10 consumer device customers in Asia and USA, after we recently launched the first generation of IDEX highly competitive, small-area touch and swipe fingerprint sensors. To support these products into commercial volumes, we have also implemented a high volume manufacturing and supply capability with our partner CrucialTec, who is an established fingerprint sensor module integrator for the mobile device industry.
Following from this product sampling activity, in the second quarter of this year, our first generation of sensors have been selected for qualification by a number of customers as part of the design in specific mobile device developments. This may lead to IDEX sensors being inserted in these devices, if and when these devices are launched by the OEM customers in the market.
As a result, we expect mobile devices with our integrated first-generation IDEX sensors to be launched later in 2014 or the first quarter of 2015 based on the current customer plans. This means we continue to expect initial revenues to begin to flow in the second half of 2014 both from these opportunities and the volume order IDEX has already won from World Wide Touch Technologies.
Based on our wider engagements with the mobile device ecosystem following the launch of our products, we see a clear trend for smaller touch fingerprint sensors that can be built into the front of the mobile device. This has been triggered by the successful introduction of the small area touch sensor into the design of the Apple iPhone 5S. Following the launch of the Samsung S5 Galaxy fingerprint sensor and other Android handsets, we also see that for their next generation of handsets, these device manufacturers expect improved security levels and better user performance than is provided by sensors they are currently deploying.
These reasons are why potential customers are responding positively to our compelling patent-protected IDEX product roadmap. There is clear industry understanding why IDEX’s next-generation two-part touch sensors can deliver better price, security and accuracy in small form factors than traditional one-part silicon sensors that are being used today.
The IDEX team is now rapidly commercialising our second-generation two-part fingerprint touch sensors based on our patented flexible circuit technology. Our partnership with Cypress ensures that we will be able to deliver this new family of sensors in the volumes and at the levels of quality demanded by first-tier handset manufacturers. Our licence agreement with Cypress secures rapid semiconductor development to expedite product sampling, supported by high volume manufacturing capacity. This positions IDEX with an established solutions supplier to first-tier mobile customers. This second generation of IDEX sensors will deliver market disruptive cost reduction, whilst dramatically improving form factor flexibility, accuracy and security features which will address the explosive growth of mobile payment transactions.
We are already planning to extend this second-generation sensor family by implementing these products in glass. We believe that this revolutionary sensor implementation is unique to IDEX and will provide the ultimate solution for integration of fingerprint recognition in the mobile device. We are experiencing very strong interest for this in-glass solution, which technology was successfully demonstrated at the Mobile World Congress this year, whilst engaging potential customers with our first generation products. IDEX is also seeing increased customer activity for secure card products for ID, access control and payment applications, where our flexible sensor is ideally suited.
As a result of this strong interest in our differentiated, patented products and solutions, supported by the solid partnerships we now have in place to take these to market, and with an expanding, highly experienced team from the biometric and mobile industry, we expect to gain a strong share of the multibillion dollar market opportunity that advanced biometric sensors offer in the near future.
We at IDEX will continue to build on this strong momentum, and are confident we will be able to communicate further major positive developments in the second half of 2014.
30 June 2014
Hemant Mardia, CEO, +44 7788 922 171, hm(at)idexbiometrics.com
Kristian Wiermyhr, VP Strategy and Sales, +47 4127 3360, kw(at)idexbiometrics.com
IDEX ASA specialises in fingerprint imaging and recognition technology. IDEX’s vision is to ensure individuals a safe, secure, and user-friendly use of personal ID. IDEX has developed the award-winning SmartFinger technology platform based on the Company’s core intellectual property, including the patented fingerprint imaging principle, sensing scheme and chip design. Combined with core software solutions for imaging and authentication, the SmartFinger technology enables on-device enrollment, template storage and verification within the very same module. SmartFinger solutions can be seamlessly integrated into a variety of embedded applications such as mobile phones, one-time password devices, Smartcards, payment and ID cards, payment terminals, access control devices and biometric security and login tokens.
IDEX ASA (ticker IDEX) is a Norwegian public company listed at the Oslo Axess marketplace on the Oslo Børs (Oslo stock exchange). For more information, please visit www.idexbiometrics.com or contact IDEX at email@example.com