Company’s foray into Chinese market aims good market share
Innovision Research & Technology, a UK-based RFID design services company, has signed a contract with a Chinese smart card vendor for the development and supply of custom RFID tag technology for contactless smartcard and ticketing markets in China.
Under the contract, Innovision will supply advanced analog, digital and EEPROM tag technology to be integrated with that of the customer for an initial two projects.
The initial contract is expected to be worth million dollars to the company over the next few years, mostly in royalties but also including development revenue, said the company.
David Wollen, CEO of Innovision, said: We told our investors that we were intending to make a first entry into the Chinese market, where we hope to tap into the large potential market for our technology, particularly RFID tags. It is also significant to Innovision as it complements recent large NFC contracts we have won and it addresses different markets, with different products and with shorter-term revenue potential.
Earlier, in the first week of April 2009, Innovision Research & Technology said that it has signed a contract extension with a market leading European wireless communications company for the inclusion of our next generation Near Field Communication intellectual property in their Integrated Circuits (IC) targeted at the mobile handset and consumer device markets.
Innovision Research & Technology, is leading the next generation of NFC/RFID services. As the leading fabless developer of Short-Range Data Communication semiconductor and system services, with particular focus on NFC/RFID (Radio Frequency Identification) and ultra low-cost Integrated Circuit (IC) and RF electronic design, IRT is pushing cost performance to enable clients to get maximum utility for minimum cost.