Smart Eye AB (Nasdaq First North: SEYE.ST), a leading producer of AI-powered eye tracking technology for semi-autonomous cars, secures 14 design wins from a new customer. The customer is a global Korean OEM (Original Equipment Manufacturer) and the order consists of 14 vehicles, with a production start in 2020. The order value is estimated to exceed 150 million SEK for the 14 models, based on product life cycle volume projections. The life cycle revenue potential of all programs for the global Korean OEM may exceed 2,0 billion SEK.
“We’re not only entering the dynamic Korean market as a supplier to an automotive giant, well-known as an industry benchmark in quality, but at the same time we’re also making our first inroad into the mass market. Our previous design wins were all high-end cars in the premium segment. Now for the first time we’ve been awarded a nomination for no less than 14 models, with a wide variety of types firmly rooted in the mass market segment. This is a clear validation that our strategy of supplying all segments of the automotive industry works, and it’s also an indication that the automotive industry is adopting driver monitoring faster than we previously expected,” says Smart Eye CEO Martin Krantz.
Smart Eye will deliver its driver monitoring system (DMS), an in-car AI function facilitating better driver safety and driver experience.
Altogether, Smart Eye has received 43 automotive industry design wins from six OEMs, making the company the market leader in driver monitoring technologies. The total potential value of Smart Eye’s design wins exceeds 1,0 billion SEK. Furthermore, Smart Eye has now six OEM customers and four car models launched.
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
Bridging the gap between man and machine since 1999. Smart Eye develops artificial intelligence (AI) powered eye tracking technology that understands, assists and predicts human intentions and actions. By studying a person’s eye, face and head movements, our technology can draw conclusions about an individual’s alertness, attention, focus and gain insights into a person’s awareness and mental status.
Today, our eye tracking technology is embedded in the next generation of vehicles, helping the automotive industry take another step towards safer and more eco-friendly transportation. Our research instruments offer unparalleled performance in complex, real-world situations, paving the way for new insights in aerospace, aviation, psychology, neuroscience, medical and clinical research.
Smart Eye is headquartered in Gothenburg, Sweden and has offices in Michigan, USA, Tokyo, Japan and Chongqing, China, as well as having partners, resellers and distributors in Europe, USA and APAC. Its solutions are used by more than 700 clients all over the world by leading research groups, brands and labs such as US Air Force, Nasa, BMW, Lockheed Martin, Audi, Boeing, Volvo, GM, and many more.
Smart Eye is listed on First North. Erik Penser is Certified Adviser and can be reached at +46-8-463 8000 or email@example.com. This information was published on February 1st, 2019 at 8:30 am (CET