Strengthening Global Presence in Vision Solutions and Bio-Medical Sectors
June 24, 2024 – NAMUGA Co., Ltd. (190510:KOSDAQ) has announced several new Memorandums of Understanding (MOUs) with leading AI sensor companies in the U.S. and Europe. These agreements are designed to expand the company’s footprint in the fast-growing VR/AR and mobility markets.
Breakthrough Innovations in Vision Solutions
The company has deepened its partnership with Lumotive, a U.S.-based fabless company specializing in LiDAR technology for autonomous driving. Under the new agreement, NAMUGA will supply camera modules incorporating Lumotive’s advanced LiDAR chips and algorithms, targeting large-scale mobility customers globally. Production will be handled at NAMUGA’s Vietnam facility, which is gearing up for mass production to meet the increasing demand for mobility technologies in automotive and robotics sectors.
Strengthening Production Capabilities
NAMUGA has also signed an exclusive MOU with VoxelSensor, a 3D image sensor company founded by former META engineers. This collaboration will leverage NAMUGA’s expertise in Time of Flight (ToF) sensor development, enabling VoxelSensor to supply cutting-edge VR/AR devices to global manufacturers. Headquartered in San Jose, VoxelSensor will benefit from NAMUGA’s production capacity to bring these products to market at scale.
In another strategic move, NAMUGA is in advanced discussions with Spectricity, a Belgium-based leader in ultra-precise image sensors used in biometric and medical devices. The two companies aim to combine their strengths, with Spectricity focusing on chip design and NAMUGA handling large-scale production, positioning the company to meet growing global demand in sectors like healthcare and security.
Bio-Medical Leadership with Precision Tracking Technology
In the Bio-Medical field, NAMUGA is pushing forward with its Vision on Object Recognition (VOR-SI) technology, developed in partnership with Japanese medical device company JISSO. This innovative technology, which tracks surgical instruments with micron-level accuracy using image sensors and X-ray tech, is expected to replace outdated methods like RFID. The market for VOR technology is projected to exceed 40 trillion KRW in the coming decade, especially in advanced markets like Japan, Europe, and North America.
NAMUGA’s recent participation in the International Medical Device Exhibition in Yokohama drew strong interest from Japanese firms, with some entering talks to import and distribute the company’s products. NAMUGA plans to showcase an expanded VOR system offering at the Japanese Society of Surgery Conference in Osaka this December, with revenue expected as early as next year from custom-designed products and licensing agreements.
Revenue Growth and Market Positioning
CEO Dong-Ho Lee, leading NAMUGA’s global expansion efforts, has been engaging with major tech companies in the U.S. and Japan to further collaborations, particularly in VR/AR and mobility. Mr. Lee anticipates 2024 to be a pivotal year for the company, with a recovery in revenue to 400 billion KRW, and a goal to hit 500 billion KRW by 2026. The company aims to strengthen its market position in key sectors like VX Glass, security, mobility, and Bio-Medical solutions.
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