poLight ASA – poLight TLens designed into a barcode product by a Tier 1 vendor

Horten, 5 March 2020 - poLight ASA (OSE: PLT) today announced that its TLens product is being designed into next generation barcode scan engine from an undisclosed Tier 1 vendor. The vendor has placed an order for 0,5 million NOK of TLens and drivers to support final development, product qualification and mass production preparation.

Planned market release is in late second quarter or early third-quarter 2020, dependent on successful testing and other external factors.

“This is another milestone for us and proves that we have a product which can penetrate this very attractive market segment together with leading barcode vendors“, said Dr. Øyvind Isaksen, the CEO of poLight.  “A barcode product may last for several years with a potential annual volume ranging from some few thousand units and up to a few million units per customer. Revenue and cash flow generated from a successful entry to this market could cover a significant part of the company’s cost base.”

The order will be shipped to the customer in the coming next few months. 

Further information from:

Dr. Øyvind Isaksen, CEO, poLight ASA: +47 90 87 63 98

About poLight ASA

poLight offers a new autofocus lens which "replicates" the human eye for use in devices such as smartphones, wearables, barcode, machine vision systems and various medical equipment. poLight's TLens® enables better system performance and new user experiences due to benefits such as extremely fast focus, small footprint, no magnetic interference, low power consumption and constant field of view. poLight is based in Horten, Norway, with offices in Finland, France and China and representation in Taiwan and Korea. For more information, please visit https://www.polight.com