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Sondrel (Holdings) PLC - Reading, England-based semiconductor company - Announces it has successfully taped out an application specific integrated circuits design for a controller of a smartphone camera. The project design contract was awarded in late 2021 and was fully funded by the customer. Project production and supply are expected to begin at the start of 2024, company says. Estimates based on production volumes and the product lifetime currently projected that revenue associated with the production and supply of the ASIC could exceed $50 million over five years. Graham Curren, Chief Executive says: ‘We look forward to progressing with the new product introduction and prototyping phases ahead of the product entering production in 2024.’ Current stock price: 45.75 pence, up 1.7% in London on Tuesday 12-month change: down 21% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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