Immersion Expands License Agreement with Stanley for Automotive Products

Rhea-AI Summary

Immersion Corporation (NASDAQ: IMMR) has expanded its licensing agreement with Stanley Electric Co., Ltd. to enhance automotive haptic technology. This move signifies the growing adoption of haptics in new car models, providing high-fidelity touch feedback across various in-vehicle interfaces, such as entertainment and climate control systems. Nobumitsu Shimada of Immersion emphasized the importance of technological advancements in promoting this trend. Immersion continues to lead in touch feedback technology across sectors, including automotive and consumer electronics.

Positive

• Expansion of partnership with Stanley Electric enhances haptic technology application in automotive market.
• Increased demand for haptic technology in new car models indicates market growth potential.

Negative

• None.

Immersion Corporation (NASDAQ: IMMR), the leading developer of haptic technologies, today announced that it has expanded its license with Stanley Electric Co., Ltd., (Stanley) for the use of haptics in the automotive market. Stanley is a leading global supplier of lighting products and electronic components, including automotive electronics products and control panels for printers.

"Many new car models are adopting haptics across various interfaces throughout the cabin. This new wave of adoption is enabled by technology advancements that deliver high-fidelity and high-definition experiences," said Nobumitsu Shimada, Sr. Director, APAC, Immersion. "We are pleased that Stanley has expanded licensing of our patented technology.”

Immersion’s high-quality touch feedback technology enhances in-vehicle interfaces and applications. Increasingly, haptics is being designed into automotive applications as more and more vehicles incorporate high-quality tactile effects for operations such as entertainment, navigation and climate control.

About Immersion

Immersion Corporation (NASDAQ: IMMR) is the leading innovator of touch feedback technology, also known as haptics. The company invents, accelerates, and scales haptic experiences by providing technology solutions for mobile, automotive, gaming, and consumer electronics. Haptic technology creates immersive and realistic experiences that enhance digital interactions by engaging users' sense of touch. Learn more at www.immersion.com.

Forward-looking Statements

This press release contains "forward-looking statements" that involve risks and uncertainties, as well as assumptions that, if they never materialize or prove incorrect, could cause the results of Immersion Corporation and its consolidated subsidiaries to differ materially from those expressed or implied by such forward-looking statements.

All statements, other than the statements of historical fact, are statements that may be deemed forward-looking statements. Examples of forward-looking statements contained herein include, but are not limited to, statements regarding trends in automotive applications of haptic technology. Immersion's actual results might differ materially from those stated or implied by such forward-looking statements due to risks and uncertainties associated with Immersion's business.

For a more detailed discussion of these factors and other factors that could cause actual results to vary materially, interested parties should review the risk factors listed in Immersion's most current Form 10-K, and Form 10-Q, both of which are on file with the U.S. Securities and Exchange Commission. The forward-looking statements in this press release reflect Immersion's beliefs and predictions as of the date of this release. Immersion disclaims any obligation to update these forward-looking statements as a result of financial, business, or any other developments occurring after the date of this release.

Immersion and the Immersion logo are trademarks of Immersion Corporation in the United States and other countries. All other trademarks are the property of their respective owners.

(IMMR – C)

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FAQ

What is the recent development regarding Immersion Corporation and Stanley Electric?

Immersion Corporation has expanded its licensing agreement with Stanley Electric to integrate advanced haptic technology in the automotive sector.

How does haptic technology benefit automotive interfaces?

Haptic technology provides high-fidelity touch feedback, enhancing user interaction with entertainment, navigation, and climate control systems in vehicles.

What is the significance of Immersion's expanded licensing with Stanley Electric?

The expanded licensing demonstrates the growing adoption of haptic technology in automotive applications, indicating potential market growth.

What role does Immersion Corporation play in haptic technology development?

Immersion Corporation is a leading innovator in touch feedback technology, providing solutions for various sectors, including automotive, gaming, and consumer electronics.

What future trends does Immersion foresee in the automotive industry?

Immersion anticipates continued growth in the adoption of haptic technology across various automotive applications as technology evolves.