Smart Eye Receives Another Design Win from Major Japanese OEM
GÖTEBORG, SE / ACCESSWIRE / October 1, 2021 / Smart Eye (STO:SEYE)(OTC PINK:SMTEF)(FRA:SE9)
Smart Eye announces a new design win with a global Japanese car manufacturer. The new order, for one new car model on an existing platform, has an estimated revenue of SEK 25 million, based on forecasts of the estimated product life cycle.
Smart Eye, the world's leading developer of AI-powered Driver Monitoring System (DMS) software, has received a new order from an existing customer. The new car model is estimated to go into production by the end of 2022.
The customer is a major, global car manufacturer headquartered in Japan. The new order extends Smart Eye's technology to yet another of the customer's car models, in addition to the nine previously communicated design wins with this OEM. The estimated revenue for the new design win SEK 25 million, based on product life cycle volume projections.
For this model, the OEM has changed the standard position of the system's camera. Smart Eye's DMS solution is designed for flexibility in order to accommodate new camera placements. This is expected to give Smart Eye a competitive advantage as an increasing number of car manufacturers are requesting alternative camera placements in their cars.
"This new order further confirms our ability to provide our customers with outstanding DMS technology. As we keep delivering on our existing contracts, we look forward to receiving even more design wins on this and other previously won platforms", said Martin Krantz, CEO and founder of Smart Eye.
Smart Eye has now received a total of 89 design wins from 13 OEMs. The combined estimated lifetime value from current design wins is now larger than SEK 2,275 million. Estimated value over the product lifecycle from possible additional design wins with the car manufacturers on existing platforms is now SEK 3,975 million.
For more information:
Martin Krantz, CEO Smart Eye AB
Phone: +46 70-329 26 98
Anders Lyrheden, CFO Smart Eye AB
Phone: +46 70-320 96 95
About Smart Eye
Smart Eye is leading the way towards safe and sustainable transportation. Every year, 1.2 million people lose their lives in traffic-related accidents around the world, another 50 million are injured. Our firm belief is that science and technology can help turn this around.
For over 20 years Smart Eye has developed artificial intelligence (AI) in the form of eye tracking technology that understands, supports and predicts a person's intentions and actions. By carefully studying eye, facial and head movement, our technology can draw conclusions about a person's awareness and mental state. Our eye tracking technology is used in the next generation of cars, commercial vehicles and providing new insights for research within aerospace, aviation, neuroscience and more.
Smart Eye's solutions are used around the world by more than 800 partners and customers, including the US Air Force, NASA, BMW, Audi, Boeing, Volvo, GM, and Harvard University.
Visit www.smarteye.ai for more information.
Visit our investor web for more financial information: http://www.corp.smarteye.se/en/
Smart Eye is listed on Nasdaq First North Growth Market. Erik Penser is Certified Adviser and can be reached at +46-8-463 8000 or email@example.com .
This information is information that Smart Eye is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2021-10-01 08:30 CEST.
SOURCE: Smart Eye
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