January 7, 2020

Smart Eye receives design win from second Chinese OEM

Smart Eye AB (Nasdaq: SEYE), the market leader in Driver Monitoring Systems, receives one new design wins, from a second Chinese OEM customer. The estimated revenue of the order is MSEK 50, based on forecasts of the estimated product life cycle, the company has now received a total of 57 design wins.

Smart Eye will deliver its second-generation DMS technology to a large Chinese OEM. The car models that includes Smart Eye’s software have a planned SOP in 2021. Smart Eye’s DMS software includes an in-car AI function to increase the safety and entertainment of the driver. The system includes gaze tracking and Face ID, preventing driver distraction and inattention.

“As a global supplier of DMS and in-car AI technology, we have worked hard to secure a foothold on the important Chinese market, the largest in the world. This second design win is a crucial step towards our goal. It was a hard-fought competitive process where in the end Smart Eye’s proven capabilities of safety level driver monitoring combined with solid quality and high level of functionality came out as decisive factors. The Chinese market is expected to grow at an increasing pace, as is the rest of the global market. In the end it’s all about keeping more and more drivers safe and the Smart Eye team in China has done a great job in ensuring just that”, says Martin Krantz, CEO at Smart Eye.

Smart Eye has partnered with a major Tier 1 supplier in order to secure the order and has to date, Smart Eye has received 57 design wins from ten OEMs in the automotive industry, making the company the market leader in DMS technology. The total potential value of Smart Eyes design wins exceeds SEK 1.5 billion. Six car models with Smart Eyes technology have been launched in the market.

Definitions:
OEM: Original Equipment Manufacturer (car manufacturer)
Design win: order of technology for one car model
SOP: Start of Production
DMS: Driver Monitoring System