poLight ASA – smartphone project mentioned in Q1-report cancelled due to portfolio changes, - the same OEM still express interest in TLens and other OEM has started evaluation
Horten, 29th July 2021 - poLight ASA (OSE: PLT) today announced that the company has been informed that the smartphone project mentioned in Q1 quarterly report has been cancelled. The plan was phone release to market in beginning of 2022 and start shipping TLens in Q4-2021. Reason for the cancellation is only related to portfolio strategy. The same OEM still express interest in TLens and will likely consider using TLens camera module for future smartphone releases. However, this is still to be decided. “As mentioned before timing and portfolio related decision is always a risk factor