Fingerprint Cards AB says Huawei phone has its sensor, shares jump

September 5, 2014 - 

Fingerprint Cards AB said it is providing Chinese smartphone maker Huawei with fingerprint sensors for its soon to be released Ascend Mate 7, sending its shares up nearly 11 percent, according to a report by Reuters.

Fingerprint Cards announced last December it had signed an agreement with Huawei, but did not disclose the company’s name at the time of the announcement. Then in May, Fingerprint Cards announced an order related to the deal.

Company CEO Johan Carlstrom recently reiterated that Fingerprint Cards is aiming to capture about 60 percent of the touch sensors market in 2014 and 50 percent in 2015, not including those sensors installed by Apple.

Carlstrom told Reuters that the company’s goal have not changed and he feels “very comfortable to reach that” target.

He estimates that the company will sell about 3 million Ascend Mate 7 units this year alone, which is expected to be released at the end of October..

Earlier this week, Chinese online payment company Alipay announced its partnership with Huawei to use the fingerprint sensor in Huawei’s new Ascend Mate 7 smartphone, enabling a more secure way for users to make mobile purchases.

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About Stephen Mayhew

Stephen Mayhew is the publisher and co-founder of Biometrics Research Group, Inc.. His experience includes a mix of entrepreneurship, brand development and publishing. Stephen attended Carleton University and lives in Toronto, Canada. Connect with Stephen on LinkindIn.