STOCKHOLM, Sept. 27, 2019 /PRNewswire/ -- Smart Eye will deliver DMS technology to eight additional car models to one of Japan's largest OEMs. This is an extension of the two design wins with one of Japan's and Europe's largest OEMs communicated in May this year. The order is now a total of 10 car models with SOP of the first car in 2020. Estimated revenue of the additional eight car models is 200 MSEK based on estimated product life cycle projections.
Smart Eye will deliver a second generation DMS, Driver Monitoring System, to eight new car models for a Japanese OEM. It involves software for an in-car AI function facilitating better driver safety and driver experience. The system includes gaze tracking and Face ID, preventing driver distraction and inattention. The order is related to the one with one of Japan's and Europe's largest OEMs communicated in May this year.
"These eight additional design-wins not only prove that our offering continues to stand strong in relation to the growing demand of DMS technology on the world market. It also shows that our momentum on the Japanese market helps to solidify our global market leading position. I am very proud of the team responsible for achieving this outcome," says Martin Krantz, CEO of Smart Eye.
Altogether, Smart Eye has received 53 automotive industry design wins from eight OEMs, making the company the market leader in driver monitoring technologies. The total potential value of Smart Eye's design wins exceeds 1.35 billion SEK. Furthermore, as of today Smart Eye has six car models in series production.
About Smart Eye
Since 1999 Smart Eye has been engaged in development of 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.
Today our eye tracking technology is used in the next generation of cars and is helping the automotive industry take an important step towards safer and more environment-friendly transport solutions. In the research field, Smart Eye's solutions are providing new opportunities in complicated and real situations and are paving the way for new insights in the aerospace, aviation and defence industries as well as in the fields of psychology, neuroscience, medicine and academic research.
Smart Eye's head offices are in Gothenburg, Sweden, and the company also has offices in Detroit, Michigan (USA), Tokyo (Japan) and Chongqing (China). In addition to these offices of its own, Smart Eye also has partners, retailers and distributors in several locations in Europe, the USA and APAC. Smart Eye's solutions are used around the world by more than 700 partners and customers, leading research teams, brands and laboratories, including the US Air Force, NASA, BMW, Lockheed Martin, Audi, Boeing, Volvo and GM, to name a few.
Smart Eye's business is organised in two business areas, Research Instruments and Automotive Solutions. In Research Instruments, Smart Eye provides advanced eye tracking systems for measuring and analysing human behaviour. In Automotive Solutions, the company provides eye tracking software for integration in vehicles. Visit www.smarteye.ai for more information.
Investor web with financial information: http://www.corp.smarteye.se/en/
This information is information that Smart Eye AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation.
The information was submitted for publication, through the agency of the contact person set out above at September 27, 2019 at 2 pm (CEST)
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 certifiedadviser@penser.se.
For more information:
Martin Krantz, CEO Smart Eye AB
Phone: +46-70-329-26-98
Email: martin.krantz@smarteye.se
Anders Lyrheden, CFO Smart Eye AB
Phone: +46-70-320-96-95
Email: anders.lyrheden@smarteye.se
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