NEXT would like to provide shareholders with a brief update regarding some company highlights in December
1) The Company has received the first completed handset for its previously announced Chinese market smartphone project. The sensor integration has been done in accordance with all key recommendations from NEXT. The phone launch date has not yet been announced. Within the mobile space NEXT now targets shipments of moderate volumes in Q1 and increasing volumes in Q2.
2) Recent negotiations related to the coating of sensors have resulted in a coating cost per sensor at less than 10 cents. This level is considerably under the original budgeted company expectations of approx. 15 cents.
3) After a kick off held in Seattle during week 49, the NEXT China team (now 5 people led by Dr Lunji Qiu) is fully operational and ready to move "full speed ahead" in the Chinese market. Targeted segments and strategic customers will be prioritized.