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