Next Biometrics gains momentum in Asia with volume fingerprint sensor order

Next Biometrics has announced a new volume order for its FAP20 fingerprint sensors worth NOK 6.6 million (US$600,000), to supply them for the Chinese market.

In the announcement, the Norwegian biometrics sensor provider said this latest order is part of a deal it struck with an Asian distributor in May, structured as a three-year supplier contract.

“Not only is this an important contract for us, but it is also a strong signal of our progress in the market in China. We have excellent and reliant production capacity and continue to rapidly scale and expand our operations in line with our strategy,” says Ulf Ritsvall, chief executive officer at Next Biometrics.  “With this order, Next is on track towards reaching profitability. We aim to complete our China ID certification in Q4 2023 and expect more orders once we have the certification in place.”

Explaining details regarding the order, Joshua Chiu, senior vice president and head of sales for South-East Asia at Next Biometrics, remarks: “Our product offering remains very strong, as security continues to be an increasingly important market driver. With its combination of thermal technology and strong liveness detection features, Next’s FAP20 is one of the world’s most secure fingerprint sensor.”

“The volumes in this specific contract are for existing products on the market, where the FAP20 will replace current sensor solutions. We’re delighted to support our customer and look forward to fulfilling our part of the contract as we continue this partnership.”

Next says the agreement with the Asian customer has a contract value estimated at between NOK 110 million to 250 million (US$10 million to 22 million) over a three-year duration, and it has agreed to deliver supplies of NOK 250 million (US$22 million) to the customer within this period of time.

In recent times, Next Biometrics has received a number of orders in what it says is a contracts progress breakthrough.

In late November, the company received an order from India for Aadhaar L1-certified authentication devices.

Next holds that the growing demand for its product from India is linked to the L1 certification of its fingerprint sensor technology as compliant with Aadhaar requirements.

The Oslo-based company announced in September it raised about NOK 60 million (US$5.4million) to boost its operations and prepare for future orders.

Article Topics

Asia  |  biometrics  |  China  |  fingerprint sensors  |  Next Biometrics  |  stocks