Smart Eye publ : receives 14 design wins from a global Korean OEM

Announcement from February 1, 2019:

Smart Eye secures 14 design wins with a global Korean OEM. Production start is set for 2020 and the estimated order value may exceed 150 MSEK.

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.