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Fingerprint Cards chosen by Chinese mobile phone manufacturer

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Fingerprint Cards has just announced that its FPC1080A swipe sensor has been selected by one of China’s mobile phone manufacturers with access to a well-known European mobile brand.

The Chinese company is starting an Android Smartphone project this month and expects to release the first mobile phone models in the second half of 2013, both in China and internationally. According to the company, the first model will use MediaTek’s Quad Core 3G/HSPA Android platform, the MT 6789, which FPC has excellent knowledge of since earlier porting projects of customer phones and tablets.

“China is the world’s largest market for smartphones, with a forecast sales volume of 430 million units in 2013. Chinese brands already account for a market share of more than 50%,” Johan Carlström, President and Chief Executive Officer of FPC said. “This porting on the popular MediaTek Android Smartphone platform facilitates additional design wins on the same platform in China. Due to our world-leading capacitive fingerprint technology, image quality and power consumption, FPC is now established as the leading alternative for fingerprint sensors in smartphones and tablets. We expect a number of additional design wins in the booming China market during the months ahead.”

The company has also just announced that it has completed a private placement of 1.6 new class B shares, providing the it with US$ 8.5 million (SEK 54.4 million) before transaction costs.

The private placement, which was completed in accordance with the placing agreement with Carnegie Investment Bank allows FPC to issue 1,600,000 class B shares at a subscription price of SEK 34 to two large international institutional investors. The subscription price represent a premium of 6.3 per cent to the five days volume weighted average price before the private placement and a discount of 2.9 per cent to yesterday’s closing price.

Reported previously in BiometricUpdate,com FPC intended to pursue one or several new issues through this agreement, with a deviation from the then-current shareholders’ preferential rights, equal to a maximum of 3 million class B shares at market price.

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