NEXT Biometrics has signed a five-year contract to provide FAP 20 fingerprint sensors for a major European tech provider. The company did not disclose the name of its new partner, but did reveal that the partner is active on the global stage with €20 billion in sales.
According to NEXT, the unnamed partner is planning to deploy the FAP 20 sensors in a range of standalone fingerprint readers, and in other devices with fingerprint recognition capabilities. The company noted that there is currently a $1.5 billion market for FAP 20 sensors internationally, and cited its sensor’s low cost and slim form factor as competitive advantages as NEXT and its partner work to fulfill that demand.
NEXT indicted that several projects are already in the works, some of which will be portable and some of which will not. Either way, NEXT expects the partnership to generate significant revenue opportunities moving forward.
“The FAP 20 market is large and growing, and offers more attractive margins than any of our other segments,” said NEXT CEO Peter Heuman. “We are proud that a dominant biometric player has chosen our technology as the basis for some of their most promising fingerprint devices. This is an important step in taking NEXT towards a new level from both a business and technology perspective.”
The news speaks to the growing popularity of NEXT’s FAP 20 sensor, with the company receiving multiple orders for sensor shipments in the past few months. Most notably, Credence ID placed a NOK 7 million order in February, with plans to integrate the sensors into a new ECO line of affordable Android products.
Newland Payment Technology also ordered 6,000 FAP 20 sensors in September, while NCS followed that with an order for 1,500 sensors in November. NCS will use those sensors to enable biometric authentication for a government agency in Singapore.
March 10, 2021 – by Eric Weiss