“The agreement appears to reflect Fingerprint Cards’ recent strategy of diversification with respect to the applications of its biometric technology.”
New partnerships with two China-based firms open the door to smart lock integrations for Fingerprints‘ biometric technology.
The Sweden-based company announced it has signed a Memorandum of Understanding with China Synodata and Jianfeng. Both of the companies specialize in door lock technology, with the former focused on MCUs and the latter offering other electronics components.
The MoU was signed by representatives of the three companies at an event in YongKang City Hall, with the city’s major and deputy mayor in attendance along with the Swedish Consulate General’s Head of Commercial Affairs.
The agreement appears to reflect Fingerprint Cards’ recent strategy of diversification with respect to the applications of its biometric technology. While the company has seen its fingerprint sensor technology integrated into door locks before, its primary focus has historically generally been on the mobile sector and smartphones in particular; however, increasing saturation and dropping ASPs in that area over the past year have led Fingerprint Cards’ leadership to explore new areas more intensively. Biometric payment cards and automotive components are likely to be its primary pursuits, but its new partnership with Synodata and Jianfeng suggest that door locks could play an important role, too.
December 13, 2018 – by Alex Perala