FPC plans for biometric payment, access and mobile growth; opens regional offices
Fingerprint Cards (FPC) has announced the creation of two new regional offices in Shanghai, China, and in Zug, Switzerland, as well as a major distribution center in Singapore as the Swedish biometrics company plans to expand its business and bring its products closer to customers.
Early last month, FPC announced forecast earnings of up to $40 million on its biometric smartphones, payment cards and access control solution businesses for the first quarter of this year.
In a news release, Fingerprint Cards said the new Shanghai office will be its center for the Mobile business line while the office in Zug will be the Payments & Access business line center.
Fingerprint Cards justified the choice of the two new locations saying Shanghai, which is the most important economic, financial, trade, and shipping hub in China, is close to its major customers and partners in the mobile industry, while Zug was chosen for its status as a well-respected and established hub in the payments marketplace, with its connections to central Europe.
The Singapore sales hub, the company noted, will have the responsibility to streamline inventory management and realize economies of scale in its distribution operations to multiple markets.
With these novelties will also come the relocation of the Chief Executive Officer and Chief Financial Officer of Fingerprint Cards to Zug, but they’ll still hold their current functions with the parent company which will remain in Sweden alongside its other existing main functions, the news release disclosed.
Fingerprint Cards President and CEO Christian Fredrikson said the proximity move would be crucial to their success. “As we enter the next phase in Fingerprints’ development, I believe that close collaboration and proximity to key customers, suppliers and partners, as well as access to critical talent, will be even more crucial to our success. Our new organization will benefit our operations through enhanced organizational flexibility, speed, cost- and cash effectiveness, as well as through a sharper focus on our two individual business lines,” said Fredrikson.
Fingerprint Cards had its biometric authentication sensors recently integrated into three new devices by Xiaomi.