SOURCE: NEXT Biometrics

NEXT Biometrics

July 21, 2016 10:42 ET

NEXT Biometrics and Innolux, a Leading Maker of TFT-LCD Panels, to Jointly Invest in Mass Production Capacity for NEXT's Flexible Fingerprint Sensor Technology

OSLO, NORWAY--(Marketwired - Jul 21, 2016) - NEXT Biometrics Group ASA (Oslo Bors: NEXT) and Innolux, one of the world's largest manufacturers of TFT-LCD-panels and NEXT Biometrics Group ASA today jointly announced that they are investing in establishing mass production capacity for the previously showcased NEXT flexible fingerprint sensor technology.

Innolux and NEXT Biometrics has worked together for many years and NEXT Biometrics is manufacturing volumes of rigid fingerprint sensors at Innolux plants in Taiwan. With NEXT Biometrics` recent introduction of the world´s first flexible fingerprint sensor, the companies have agreed to do joint investments to enable mass production of these new fingerprint sensors. NEXT Biometrics has previously communicated a production capacity target of 2 million flexible sensors per month in 2017, growing to 10 million per month in 2018.

NEXT Biometrics' CEO Tore Etholm-Idsøe said, "We experience major interest in the world´s first smart card industry compatible flexible sensor. The upcoming transition to mass production is not trivial and we are very happy for Innolux active support in this process. They are a $10 billion annual sales TFT-LCD displays manufacturer and are, of course, highly experienced in solving issues when ramping-up for mass production of new product formats."

The NEXT Biometrics CEO added, "We have made significant progress during the recent months, and we are proud to announce that Innolux will now invest money, time and knowledge along with NEXT Biometrics to bring the flexible sensors to the world market."

Innolux Vice President James Yang commented, "There is a massive opportunity in the market for flexible fingerprint sensors, and we strongly believe in the NEXT Biometrics technology. The company is unique in the sense that they are bringing to market a truly flexible sensor, which meet the smart card industry requirements while it can be mass produced at cost levels that are compatible with smart card market value propositions. We have therefore decided to help bring the project forward as quickly as possible, investing Innolux knowledge as well as capital resources."

About Innolux: Innolux is a global company with more than 68,000 employees, headquartered in Taipei. Innolux customers include many of the world´s leading information and consumer electronics manufacturers. Its all-inclusive product lines span the full range of TFT LCD panel modules and touch panels, including TV panels, desktop monitors, notebook computer panels, small and medium-sized panels, and medical and automotive panels.

About NEXT Biometrics: Enabled by its patented NEXT Active Thermal principle, NEXT Biometrics (www.NextBiometrics.com) offers high quality area fingerprint sensors at a fraction of the prices of comparable competitors. A wide range of product formats including Smart Cards, Smartphones, Tablets, PC's, Doors, Time registration systems, Wearables, Payment terminals, Flashdrives, USB-tokens, Key fobs and many more are targeted.

NEXT BIOMETRICS GROUP ASA is a publicly listed company headquartered in Oslo, Norway and with sales, support and development subsidiaries in Seattle, Silicon Valley, Taipei, Prague and Shanghai. Media and Investor contacts for NEXT Biometrics: Tore Etholm-Idsøe, CEO, Tore.Idsoe@NEXTbiometrics.com and Knut Stalen, CFO, Knut.Stalen@NEXTbiometrics.com.

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