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    1810   KYG9830T1067

XIAOMI CORPORATION

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Elliptic Labs Launches AI Virtual Proximity SensorTM on High Volume Redmi Note 11 and Note 11 Pro Smartphones

10/29/2021 | 01:01am EST
Oslo, Norway -- Elliptic Labs (EuroNext Growth: ELABS.OL), a global AI software
company and the world leader in AI Virtual Smart SensorsTM, is launching its AI
Virtual Proximity SensorTM INNER BEAUTY® on the latest versions of Xiaomi's
high-volume smartphone line: Redmi's Note 11 and Note 11 Pro. Both smartphones
are powered by Elliptic Labs' partner MediaTek - the Redmi Note 11 Pro
smartphone utilizes the Dimensity 900 chipset, while the Dimensity 700 chipset
drives the Redmi Note 11 smartphone.
 
"Xiaomi has entrusted the proximity needs of its best-selling smartphone line,
the Redmi Note series, to Elliptic Labs' AI Virtual Smart Sensor PlatformTM,"
said Laila Danielsen, CEO of Elliptic Labs. "The power, flexibility, and value
of our software-based solutions drive the growing presence of Elliptic Labs' AI
Virtual Smart SensorsTM in the smartphone market. Smartphone OEMs continue to
choose Elliptic Labs' AI Virtual Proximity Sensor over hardware-sensor
alternatives, concurrently driving innovation and lowering costs."
 
INNER BEAUTY is a registered trademark of Elliptic Labs.
 
AI Virtual Smart Sensor, AI Virtual Proximity Sensor, and AI Virtual Smart
Sensor Platform are trademarks of Elliptic Labs.
 
All other trademarks or service markets are the responsibility of their
respective organizations.
About Elliptic LabsElliptic Labs is a global enterprise targeting the smartphone, laptop, IoT, and
automotive markets. Founded in 2006 as a research spin-off from Norway'sOslo
University, the company's patented software uses AI, ultrasound and
sensor-fusion to deliver intuitive 3D gesture, proximity, presence, breathing
and heartbeat detection experiences. Its scalable AI Virtual Smart Sensor
PlatformTM creates software-only sensors that are sustainable, human-friendly and
already deployed in hundreds of millions of devices around the world. Elliptic
Labs is the only software company that has delivered detection capabilities
using AI software, ultrasound, and sensor-fusion deployed at scale. It filed its
IPO with the Euronext Growth Market in October 2020. 
Elliptic Labs is headquartered in Norway with presence in the USA, China,
South-Korea, Taiwan, and Japan. Its technology and IP are developed in Norway
and are solely owned by the company.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

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Sales 2021 324 B 51 059 M 51 059 M
Net income 2021 21 634 M 3 408 M 3 408 M
Net cash 2021 66 667 M 10 502 M 10 502 M
P/E ratio 2021 17,1x
Yield 2021 -
Capitalization 375 B 59 007 M 59 024 M
EV / Sales 2021 0,95x
EV / Sales 2022 0,74x
Nbr of Employees 26 110
Free-Float -
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Number of Analysts 34
Last Close Price 15,08 CNY
Average target price 22,43 CNY
Spread / Average Target 48,8%
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Managers and Directors
Jun Lei Chairman & Chief Executive Officer
Xiang Wang President
Alain Lam Chief Financial Officer
Yan Qi SVP-Internal Operations & Public Affairs
Dong Sheng Chen Independent Non-Executive Director
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