Fingerprint Cards appoints Serial Microelectronics Korea (Serial Korea) as distributor for South Korea.
Serial Korea also places initial order valued at SEK 5.2 M
Serial Microelectronics Korea Ltd., (Serial Korea), with its parent company listed on the Singapore Stock Exchange and headquartered in Singapore, has been appointed strategic distributor for South Korea by Fingerprint Cards AB (FPC). In conjunction with the signed distribution agreement, Serial Korea has placed an initial order with FPC, valued at SEK 5.2 M.
Serial Korea, a strategic distributor for Korea markets, is well represented in Korea with more than 100 employees and three sales and support offices. FPC’s products are an excellent supplement to Serial Korea’s current product range, while the latter’s broad range of contacts and diversified network of customers will provide FPC with new opportunities in the automotive industry, industrial applications and consumer electronics in South Korean markets. In addition to its extensive distribution channels and strengths, Serial Korea will offer technical support and development of customer-specific solutions, which will facilitate integration while reducing the lead time to complete solutions for end customers.
To be able to support the demand for FPC’s product and solutions in the Korean market and to offer customers fast delivery time, Serial Korea has placed an initial order valued at SEK 2.6 M for FPC’s FPC1080A Swipe sensors and SEK 2.6 M for FPC’s FPC1011F Area sensors, respectively.
Johan Carlström, CEO of FPC, says: “We are delighted to have Serial Korea as our strategic partner in the South Korean market. Serial Korea is renowned as a distributor. We strongly believe that Serial Korea will quickly generate new business opportunities for themselves and FPC, particularly in fast-moving consumer electronic and automotive sectors.”
Derek Goh, Executive Chairman and Group CEO of Serial System, says: “We are very pleased to be appointed as a distributor of Fingerprint Cards. As South Korea accounted for 23% of the Group’s revenue for 2010, we will continue to support, focus and invest in this market to grow the FPC business. With this partnership, we will be able to offer our customers a more complete range of products and innovations.”
SY Kim, President of Serial Microelectronic Korea Ltd., says, “I am delighted to add FPC to our list of distributorships. This is a testament to our strong brand name in the market. I look forward to a long and rewarding partnership with FPC and will work with all levels of staff in FPC to jointly grow our businesses.”
For further information, please contact:
Johan Carlström, CEO of Fingerprint Cards AB (publ), +46 (0)31-607820, investrel@fingerprints.com
Fingerprint Cards AB (publ), Box 2412, SE-403 16 Gothenburg, www.fingerprints.com
About Fingerprint Cards AB (FPC)
Fingerprint Cards AB (FPC) develops produces and markets biometric technology, which, through analysis and matching of an individual’s unique fingerprint, verifies the person’s identity. The technology consists of biometric sensors, processors, algorithms and modules that can be used separately or combined. The competitive advantages offered by FPC’s technology include unique image quality, extreme robustness, low power consumption and complete biometric systems. With these advantages and the ability to achieve extremely low manufacturing costs, the technology can be implemented in volume products, such as smart cards and mobile telephones, which impose extremely rigorous demands on these characteristics. FPC’s technology can also be used in such areas as IT, Internet security and access control. Fingerprint Cards AB is listed on Nasdaq OMX Stockholm (FING B) and has its head office in Gothenburg, Sweden.
About the Serial System Ltd
Serial System Ltd started operations in 1988 as a distributor of electronics components in Singapore. The Company was incorporated as a private limited entity in April 1992 and listed on SESDAQ in 1997. Serial System Ltd became a Singapore Exchange Securities Trading Limited (SGX-ST) mainboard listed company on July 10, 2000. The Group has a network of overseas offices, operations and representations in China, Hong Kong, South Korea, Taiwan, India, Malaysia, Thailand, Philippines, Indonesia and Vietnam.
Publication pursuant to Swedish legislation: Fingerprint Cards AB (publ) discloses this information pursuant to the Securities Market Act (2007:528) and the Financial Instruments Trading Act (1991:980).
The information was issued for publication on August 24, 2011, at 8.00 a.m.
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