Hardware maker Next Biometrics says it has signed a new buyer in India for its FAP20 fingerprint sensor. As is typical with NEXT with such news, the buyer has not been named.
Next executives say a memo or understanding has been signed committing the original equipment maker to a $1.4 million purchase order when the final contract is signed. Subsequent pricing and shipment schedules will be finalized then, too.
The memo also outlines a two- to five-year relationship between the two firms.
The executives say the buyer anticipates needing annual sensor shipments valued at $1.4 million to $2.8 million each year.
Signing another OEM "in India for a long-term FAP20 partnership agreement is in line with Next's ambition to expand in the world's largest biometric market," says Ulf Ritsvall, a Next senior vice president.
In 2020, Next executives said they had gotten their initial purchase order for 1,000 One Touch fingerprint biometrics modules from an unnamed OEM.
In February 2022, the company said it had received a $2.2 million FAP20 purchase order from an unnamed Indian buyer.
A year later, Next signed a new partner in China, a market that executives said they have not yet exploited.
Hardware maker Next Biometrics says it has signed a new buyer in India for its FAP20 fingerprint sensor. As is typical with NEXT with such news, the buyer has not been named.
Next executives say a memo or understanding has been signed committing the original equipment maker to a $1.4 million purchase order when the final contract is signed. Subsequent pricing and shipment schedules will be finalized then, too.
The memo also outlines a two- to five-year relationship between the two firms.
The executives say the buyer anticipates needing annual sensor shipments valued at $1.4 million to $2.8 million each year.
Signing another OEM "in India for a long-term FAP20 partnership agreement is in line with Next's ambition to expand in the world's largest biometric market," says Ulf Ritsvall, a Next senior vice president.
In 2020, Next executives said they had gotten their initial purchase order for 1,000 One Touch fingerprint biometrics modules from an unnamed OEM.
In February 2022, the company said it had received a $2.2 million FAP20 purchase order from an unnamed Indian buyer.
A year later, Next signed a new partner in China, a market that executives said they have not yet exploited.