August 17, 2015 -
CrucialTec announced that its fingerprint module business will continue to grow throughout the remainder of the year as a result of the upward trajectory of the Chinese biometrics market, according to a report by Korea Herald.
The company said in its regulatory filing it would earn about 285 billion won (USD$240 million) in revenue in the second half of 2015, which is a 280% increase over the same period last year.
This significant increase is primarily driven by CrucialTec’s business for fingerprint modules in various global markets such as China.
So far, CrucialTec has provided fingerprint modules to smartphone manufacturers Huawei, Fujitsu, Meizu, Oppo and HTC.
The company previously secured supply deals with Huawei for the Chinese smartphone maker’s high-end and mid-range mobile devices, including the Ascend 7, Honor 7 and Ascend G8.
Meanwhile, LG Electronics is also expected to enter the market by integrating fingerprint sensors in its flagship smartphones for release at the end of 2015. However, CrucialTec has declined to comment on possible supply deals with the Korean tech giant.
The fingerprint market continues to grow at a rapid pace as key players like Apple and Samsung Electronics have integrated biometric sensors in their smartphones.
“Coupled with the rising business for mobile payment, the fingerprint business will see a further growth down the road,” said a market official.
Previously reported, CrucialTec CEO Charles Ahn said that the company was on the verge of revealing a touchscreen panel with a built-in fingerprint scanner.