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Fingerprint Cards shares at record after Google tie-up

May 29
8:57 AM 2015

Swedish fingerprint sensor firm Fingerprint Cards said it had cooperated with Google on fingerprint recognition in the new Android software platform, as the U.S. software group looks to boost the use of fingerprint sensors on mobile phones.

Fingerprint shares jumped to a record high and were up 5.1 percent by 0724 GMT.

Google on Thursday previewed its new Android software for smartphones, tablets, watches and TVs at its annual developer conference in San Francisco. The new OS will be released later this year.

Fingerprint said it had provided prototype devices, based on its FPC1020 and FPC1025 touch sensors, supporting Google in developing and integrating the capability into Android M.

"It's a big step for the industry as there will be standardized support in phones for fingerprint sensors," Fingerprint Chief Executive Jorgen Lantto said. Such sensors could allow a phone user to avoid having to input a passcode while also increasing security as phones are increasingly used in retail and financial transactions.

Lantto said Android M will mainly boost the market for fingerprint sensors in 2016 but could give some positive impact earlier.

"This will not impact the market in the second quarter, but might give impact in the third quarter and the fourth quarter, but mainly in 2016 the market will become bigger," Lantto said.

He repeated Fingerprint's forecast of revenue exceeding 1.5 billion Swedish crowns ($177 million) in 2015.

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