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    1810   KYG9830T1067

XIAOMI CORPORATION

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Xiaomi : Elliptic Labs Launches AI Virtual Smart Sensor on Xiaomi Mi 11T Smartphone

09/16/2021 | 02:01am EDT
Oslo, Norway - Elliptic Labs (EuroNext Growth: ELABS.OL), a global AI software
company and the world leader in AI Virtual Smart Sensors, will feature its AI
Virtual Proximity Sensor INNER BEAUTY® on the new Xiaomi (HKSE: 1810.HK) Mi 11T
smartphone. Xiaomi is the second-largest smartphone manufacturer in the world,
and the Xiaomi Mi 11T, powered by MediaTek's Dimensity 1200 chipset, is
launching globally.

Elliptic Labs' AI Virtual Smart Sensor Platform enables software-only sensor
solutions that either replace or augment existing hardware sensors, providing
enhanced functionality at lower cost with fewer supply-chain constraints and
with a more powerful environmental profile. Xiaomi has relied on Elliptic Labs
since 2016 to facilitate its leadership in smartphone innovation, using Elliptic
Labs' AI Virtual Proximity Sensor INNER BEAUTY to manage proximity detection on
its smartphones.

"Elliptic Labs partnership with Xiaomi is solid and we are pleased that they
continue to use us in more smartphones as they have grown into the
second-largest smartphone OEM in the world." said Laila Danielsen, CEO of
Elliptic Labs. "The AI Virtual Smart Sensor Platform allows manufacturers to
introduce new features, while omitting hardware-based sensors, reducing cost and
eliminating sourcing risk. We are confident that our AI Virtual Smart Sensor
Platform will continue to provide the economies of scale, performance, and value
that innovative partners like Xiaomi require to continue such growth." 

INNER BEAUTY, is a registered trademark of Elliptic Labs.

All other trademarks or service markets are the responsibility of their
respective organizations.

About Elliptic Labs
Elliptic 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 AI software combines ultrasound and
sensor-fusion algorithms to deliver intuitive 3D gesture, proximity, and
presence sensing experiences. Its scalable AI Virtual Smart Sensor Platform
creates software-only sensors that are sustainable, eco-friendly, and already
deployed in over 150 million 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 solely owned by the company.
PR Contacts:
Patrick Tsui
pr@ellipticlabs.com
 
Investor Relations:
Lars Holmoy
Lars.Holmoy@ellipticlabs.com

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

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Sales 2021 341 B 53 448 M 53 448 M
Net income 2021 22 086 M 3 460 M 3 460 M
Net cash 2021 63 392 M 9 930 M 9 930 M
P/E ratio 2021 19,6x
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Capitalization 464 B 72 619 M 72 624 M
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Nbr of Employees 26 110
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