Sivers IMA (Nasdaq First North: SIVE) today announced they have received a design-in order of SEK 1.3 million from their Chinese reseller Matrix Electronic Co. Ltd. to provide products and support services to Matrix’s Chinese end customer. The order paves way for future Chinese volume deployments.
The order includes RF products and design-in support. It is Sivers IMA’s first Chinese order covering 60 GHz unlicensed 5G in mainland China. If successful, Sivers IMA expects this design project to result in significant volumes to the Chinese high-speed transportation and Fixed Wireless Access markets.
“This is a very important breakthrough order for us in China as we expect it to generate substantial revenue for us in the coming years through follow-up orders. Furthermore, it will be a very important reference project for us in China as we provide gigabit broadband solutions using our world class unlicensed 5G chip and antennas.” says Anders Storm, CEO of Sivers IMA.
Phil Nan, CEO of Matrix Electronic Co. Ltd. is very optimistic when he summarizes: “This initial design win and support contract will pave the way for true volume deployments in China.”
Sivers IMA will deliver both hardware and design-in support services to secure Matrix’s customer a successful development of an unlicensed 5G system for gigabit broadband communication. The project is expected to kick start immediately and Sivers IMA will contribute with expertise to shorten lead times and to secure a quick time to market.
For more information, please contact:
Anders Storm, CEO
Tel: +46 70 262 6390
This is information that Sivers IMA Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above at 08:00 pm CET on August 2, 2019.
Erik Penser Bank is appointed Sivers IMA Holding AB’s Certified Advisor at Nasdaq First North.
Tel: +46 8 463 80 00
Sivers IMA Holding AB is a leading and internationally renowned supplier, publicly traded under SIVE at Nasdaq First North Stockholm. The wholly owned subsidiaries Sivers IMA and CST Global develop, manufacture and sell cutting-edge chips, components, modules and subsystems based on proprietary advanced semiconductor technology in microwave, millimeter wave and optical semiconductors. Headquarters in Stockholm, Sweden. Learn more at http://siversima.com.