Lantronix Expands Open-Q Family With New SIP Modules That Deliver Powerful Performance, Vivid Graphics, Dynamic Camera Capabilities and Broad Connectivity Options

Rhea-AI Summary

Lantronix Inc. (NASDAQ: LTRX) has expanded its Open-Q chipset family with new Open-Q 2290CS and Open-Q 4290CS System-in-Package (SIP) modules, designed for industrial IoT applications. These modules utilize Qualcomm's advanced heterogenous compute architecture, promising enhanced performance and connectivity. The SIP modules are footprint compatible, aiding hardware flexibility. Additionally, the System on Module (SoM) market is projected to grow from over $1 billion in 2022 to $5 billion by 2032, with a 15% CAGR. CEO Paul Pickle emphasized the importance of Qualcomm technology in supporting rapid IoT product development.

Positive

• Launch of Open-Q 2290CS and Open-Q 4290CS SIP modules leveraging Qualcomm technology.
• Modules designed for industrial IoT applications and AI-powered solutions.
• Footprint compatibility allows for more flexible hardware design.
• The SIP market expected to grow significantly, indicating potential market opportunities.

Negative

• None.

Now available, the new Open-Q chipset modules use Qualcomm System-on-Chip devices with advanced heterogenous compute architectures

IRVINE, Calif., Feb. 01, 2023 (GLOBE NEWSWIRE) -- Lantronix Inc. (NASDAQ: LTRX), a global provider of secure turnkey solutions for the Industrial Internet of Things (IoT) and the Intelligent IT market, today announced the expansion of its Open-Q™ family with its new entry-level Open-Q 2290CS and mid-tier Open-Q 4290CS System-in-Package (SIP) chipset modules as well as the companion Open-Q AL2 Development Kit. The two SIP modules are footprint compatible, allowing for flexibility in hardware design choice.

The SIP modules are based on the Qualcomm® QCS2290 and QCS4290 System-on-Chip (SoC), utilizing Qualcomm Technologies’ heterogenous compute expertise with multiple specialized processing cores. The new Open-Q SIP modules deliver powerful performance, vivid graphics, dynamic camera capabilities and a broad set of connectivity options.

According to a December 2022 research report by Global Market Insights Inc., the System on Module (SoM) market size surpassed $1 billion in 2022 and is poised to register 15 percent CAGR from 2023 to 2032. The SoM market is expected to reach a total market value of $5 billion by 2032.

“With the expansion of the Open-Q family, Lantronix continues to deliver powerful platforms for the development of IoT products that are supported by world-leading Qualcomm technology,” said Paul Pickle, CEO of Lantronix. “Our long-standing experience with Qualcomm Technologies enables us to deliver a wide variety of development solutions and support the quick and cost-effective delivery of innovative IoT and edge-computing solutions to market.”

Lantronix Open-Q 2290CS/4290CS SIP Modules and Open-Q AL2 Development Kit

An entry-tier solution, the Open-Q 2290CS SIP module (35mm x 35mm) is ideal for the development of industrial IoT applications and safety vehicle equipment control. The Open-Q 4290CS is an affordable, compact (36mm x 36mm), production-ready SIP chipset module that can power applications requiring AI intelligence and machine learning. The Open-Q AL2 Development Kit supports both SIP modules for rapid prototyping of innovative new products.

Maximize Application Development With Lantronix Engineering Services

To assist in Intelligent IoT product design, Lantronix Engineering Services provides IoT product development that delivers unparalleled expertise and proven product development best practices to help its customers meet their technical goals and quickly get products to prototype and market. It offers a full range of production-ready Edge AI computing solutions, including multi-disciplinary engineering services.

About Lantronix

Lantronix Inc. is a global provider of secure turnkey solutions for the Internet of Things (IoT) and Remote Environment Management (REM), offering Software as a Service (SaaS), connectivity services, engineering services and intelligent hardware.

Lantronix enables its customers to accelerate time to market and increase operational up-time and efficiency by providing reliable, secure and connected Intelligent Edge IoT and Remote Management Gateway solutions.

Lantronix’s products and services dramatically simplify the creation, development, deployment and management of IoT and IT projects across Robotics, Automotive, Wearables, Video Conferencing, Industrial, Medical, Logistics, Smart Cities, Security, Retail, Branch Office, Server Room and Datacenter applications. For more information, visit the Lantronix website.

Learn more at the Lantronix blog, which features industry discussion and updates. Follow Lantronix on Twitter, view our YouTube video library or connect with us on LinkedIn.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Any statements set forth in this news release that are not entirely historical and factual in nature, including without limitation statements related to our solutions, technologies and products. These forward-looking statements are based on our current expectations and are subject to substantial risks and uncertainties that could cause our actual results, future business, financial condition, or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this news release. The potential risks and uncertainties include, but are not limited to, such factors as the effects of negative or worsening regional and worldwide economic conditions or market instability on our business, including effects on purchasing decisions by our customers; the impact of the COVID-19 outbreak on our employees, supply and distribution chains, and the global economy; cybersecurity risks; changes in applicable U.S. and foreign government laws, regulations, and tariffs; our ability to successfully implement our acquisitions strategy or integrate acquired companies; difficulties and costs of protecting patents and other proprietary rights; the level of our indebtedness, our ability to service our indebtedness and the restrictions in our debt agreements; and any additional factors included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2022, filed with the Securities and Exchange Commission (the “SEC”) on Aug. 29, 2022, including in the section entitled “Risk Factors” in Item 1A of Part I of such report, as well as in our other public filings with the SEC. Additional risk factors may be identified from time to time in our future filings. The forward-looking statements included in this release speak only as of the date hereof, and we do not undertake any obligation to update these forward-looking statements to reflect subsequent events or circumstances.

© 2023 Lantronix, Inc. All rights reserved. Lantronix is a registered trademark. Other trademarks and trade names are those of their respective owners.

Lantronix Media Contact:
Gail Kathryn Miller
Corporate Marketing &
Communications Manager
media@lantronix.com
949-453-7158

Lantronix Analyst and Investor Contact:
Jeremy Whitaker
Chief Financial Officer
investors@lantronix.com
949-450-7241

Lantronix Sales:
sales@lantronix.com
Americas +1 (800) 422-7055 (US and Canada) or +1 949-453-3990
Europe, Middle East and Africa +31 (0)76 52 36 744
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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/27fdf502-1e14-4eb9-9611-67cf0a72e0c9

FAQ

What are the features of the Open-Q 2290CS and Open-Q 4290CS modules?

The Open-Q 2290CS is an entry-tier solution suitable for industrial IoT applications, while the Open-Q 4290CS is compact and production-ready, capable of supporting AI intelligence and machine learning.

How does the new chipset expansion impact Lantronix's market position?

The expansion enhances Lantronix's offerings in the growing System on Module (SoM) market, which is expected to reach $5 billion by 2032, thereby potentially strengthening its market position.

What significant market growth is projected for the SoM market?

The System on Module (SoM) market surpassed $1 billion in 2022 and is expected to grow at a 15% CAGR, reaching a total value of $5 billion by 2032.

What role does Qualcomm technology play in Lantronix's new products?

Qualcomm technology provides the robust architecture necessary for the Open-Q modules, enabling powerful performance and extensive connectivity options in IoT products.