poLight ASA – Receives first TLens purchase order for Product Verification Testing (PVT) for a wearable device

Horten, 15 August 2019 - poLight ASA (OSE: PLT) today announced it has received a purchase order for 33,320 units of TLens Silver and 30,000 ASIC drivers related to a wearable product for an undisclosed OEM. The units will be used for Product Verification Test (PVT) and potential initial mass production (MP) related to a planned product release for a wearable device.

“This is an important step towards commercialisation of TLens” said Øyvind Isaksen, CEO of poLight. “It is our first order for a PVT phase, which typically represents the final phase of testing before a decision is made to release product to market and award of a design-win and mass-production contract.”

poLight expects to ship the order to the customer by end of August. The order is not expected to have a significant impact on revenue.

poLight has for some time supported the potential customer through a successful proof-of-concept (POC) phase and have so far shipped a total of 1,540 TLens Silver and 2,380 ASIC drivers which have been used for Engineering- and Design Verification Tests (EVT and DVT).

After product release it is expected to be in market from 12 to 18 months. While a PVT represents an important milestone towards award of a mass production contract, it is not a design-win and the project remain subject to potential changes for various technical and market related reasons.

Further information from:

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

About poLight ASA

poLight offer 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

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