Smart Eye Announces 12 New Driver Monitoring System Design Wins with Korean OEM
Smart Eye has secured an order to deliver its advanced Driver Monitoring System (DMS) software to 12 new car models from a leading Korean OEM. This order is projected to generate approximately SEK 350 million in revenue based on the product lifecycle. The first three models are set to begin production in Q4 2023, while the remainder will launch throughout 2024 and early 2025. With this latest achievement, Smart Eye has accumulated 217 design wins from 19 OEMs, bringing the total estimated lifetime value from these contracts to over SEK 4.365 billion.
- Secured a significant order for DMS software for 12 new car models with estimated revenue of SEK 350 million.
- Projected product lifecycle value exceeding SEK 4.365 billion from total design wins.
- First three models expected to be in production by Q4 2023, indicating strong demand.
- None.
GÖTEBORG, SWEDEN / ACCESSWIRE / March 7, 2023 / Smart Eye (STO:SEYE)(OTC PINK:SMTEF)(FRA:SE9) Smart Eye has been nominated to deliver its world-leading Driver Monitoring System (DMS) software to 12 additional car models, three of which will be launched as early as this year. The estimated revenue of the order is SEK 350 million based on estimated product life cycle projections.
Gothenburg, Sweden - March 7, 2023 - Smart Eye, the leading developer of DMS software for the automotive industry, will deliver its technology to 12 new car models by a Korean car OEM.
The customer is a leading Korean car manufacturer with a global manufacturing footprint. The OEM has previously sourced Smart Eye's software for implementation in several of its earlier car models and has now chosen to extend the technology to additional vehicles.
The first three car models of this nomination are expected to go into production in the fourth quarter of this year, while the remaining cars will be launched during 2024 and early 2025. The estimated revenue for the order is SEK 350 million, based on product life cycle volume projections.
"To receive additional design wins with existing customers is always nice," said Martin Krantz, CEO and Founder of Smart Eye. "This time I'm particularly happy with the timeline. The big OEMs are anxious to get new cars launched as the industry emerges from a period of delays in developing and ramping up new car models. We are starting to get back to the new normal."
Smart Eye has now received a total of up to 217 design wins from 19 OEMs. The combined estimated lifetime value from current design wins is now larger than SEK 4.365 billion. The estimated value over the product lifecycle from possible additional design wins with the car manufacturers on existing platforms is SEK 4.095 billion.
For more information:
Martin Krantz, CEO Smart Eye AB
Phone: +46 70-329 26 98
Email: martin.krantz@smarteye.se
Gabi Zijderveld, CMO Smart Eye AB
Email: gabi.zijderveld@smarteye.ai
About Smart Eye
Smart Eye is the global leader in Human Insight AI, technology that understands, supports, and predicts human behavior in complex environments. We are bridging the gap between humans and machines for a safe and sustainable future. Our multimodal software and hardware solutions provide unprecedented human insight in automotive and behavioral research-supported also by Affectiva and iMotions, companies we acquired in 2021.
In automotive, we are leading the way towards safer and human-centric mobility through Driver Monitoring Systems and Interior Sensing solutions. Our technology is embedded in next-generation vehicles and available as a standalone aftermarket solution for existing vehicles, fleet, and small-volume OEMs.
Our industry-leading eye tracking systems and iMotions biosensor software enable advanced research and training in academic and commercial sectors. Affectiva's Emotion AI provides the world's largest brands and market researchers with a deeper understanding of how consumers engage with their content, products, and services.
Smart Eye was founded in 1999 and is headquartered in Sweden with offices in the US, UK, Germany, Denmark, Egypt, Singapore, China and Japan. A publicly traded company since 2016, our customers include NASA, Nissan, Boeing, Honeywell, Volvo, GM, BMW, Geely, Harvard University, over 1,300 research organizations around the world,
Visit www.smarteye.ai for more information.
Visit our investor web for more financial information: https://smarteye.se/investors/
Smart Eye is listed on Nasdaq First North Growth Market. Erik Penser is Certified Adviser.
This information is information that Smart Eye is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-03-07 08:30 CET.
Attachments
Smart Eye Announces 12 New Driver Monitoring System Design Wins with Korean OEM
SOURCE: Smart Eye
View source version on accesswire.com:
https://www.accesswire.com/742393/Smart-Eye-Announces-12-New-Driver-Monitoring-System-Design-Wins-with-Korean-OEM
FAQ
What is the estimated revenue from the new order for SMTEF?
When will the first new car models using Smart Eye's technology be launched?
How many design wins has Smart Eye achieved to date?
What is the estimated total lifetime value of Smart Eye's design wins?
Which company is Smart Eye collaborating with for the new car models?
