poLight ASA – smartphone project mentioned in Q1-report cancelled due to portfolio changes, – the same OEM still express interest in TLens and other OEM has started evaluation

Horten, 29th July 2021 – poLight ASA (OSE: PLT) today announced that the company has been informed that the smartphone project mentioned in Q1 quarterly report has been cancelled. The plan was phone release to market in beginning of 2022 and start shipping TLens in Q4-2021. Reason for the cancellation is only related to portfolio strategy. The same OEM still express interest in TLens and will likely consider using TLens camera module for future smartphone releases. However, this is still to be decided.

“As mentioned before timing and portfolio related decision is always a risk factor until phone is actually released to the market. This portfolio change will delay smartphone entrance for poLight, but given the opportunity pipeline, we remain positive to the smartphone market for the company. “, said Dr. Øyvind Isaksen, the CEO of poLight.  

More update to come in the Q2-presentation August 20th.

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 readers, machine vision systems and various types of 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