Sivers Photonics receives follow-up orders from US Fortune 100 customer
Sivers Semiconductors AB today announced that its subsidiary, Sivers Photonics, has received new orders and requests worth approximately 860kUSD (approximately 9 MSEK*) from the first established US Fortune 100 customer, estimated to be delivered mostly during first half of 2024, with some contingency planning included, which can be up to 25% that might be delivered later.
This work will cover design optimisation and the supply of at approx. 50.000 semiconductor laser devices for further system testing for use in advanced optical sensing applications. This is a follow-up to the 30.000 devices shipments order made in end of second quarter 2023. Sivers Photonics has been working with this key customer for over 5 years and have invested more than $17 million on development.
“In 2023 we got the first larger prototype order, and we are now adding some design changes to deliver more prototypes for further system testing. The customer is making progress in their project and are getting closer to the volume phase, which strengthens our belief in a favorable future volume phase”, says Anders Storm, Group CEO of Sivers Semiconductors.
*Estimation based on applicable exchange rates
For more information please contact:
Anders Storm, CEO Sivers Semiconductors
Tel: +46 70 262 6390
E-mail: anders.storm@sivers-semiconductors.com
This disclosure contains information that Sivers Semiconductors is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the contact person set out, on 22-01-2024 08:00 CET.
Sivers Semiconductors AB is a leading and internationally recognized technology company that supplies ICs and integrated modules through its two business areas Wireless and Photonics. Wireless develops mmWave products for advanced 5G systems for data and telecommunications networks and satellite communication. The portfolio includes RF transceivers, beamforming front end ICs, integrated mmwave antennas, repeaters, and software algorithms for optimum mmWave RF performance. Photonics develops and manufactures semiconductor based optical products for optical fiber networks, sensors and optical fiber communications (Li-Fi). The company is listed on Nasdaq Stockholm under SIVE. The head office is located in Kista, Sweden. For more information: http://www.sivers-semiconductors.com