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Samsung invests in contactless IC firm

Posted: 02 Jul 2008 ?? ?Print Version ?Bookmark and Share

Keywords:contactless solution? microprocessor? NFC?

Advanced contactless microprocessor platforms provider Inside Contactless has added Samsung Ventures America to its active investor community, which now includes the world's top three handset manufacturers. Samsung Ventures' participation builds upon investments from Nokia Growth Partners, Motorola Ventures and other institutional investors, providing a total of nearly $42 million to allow the company to accelerate its international presence and broaden its product portfolio.

"As the NFC market progresses, we are hopeful that these partnerships will prove invaluable in propelling us forward to power the NFC revolution and extend our leadership," said Rmy de Tonnac, CEO of Inside Contactless.

According to a recent report from ABI Research, NFC chipset shipments and revenue will continue to grow steadily over the next five years, with over 419million NFC chipsets shipping in 2012, amounting to total market revenue of $406 million.

"We are optimistic about NFC technology's ability to bring exciting new payment and other applications to mobile handsets, and Inside's leadership in moving this market forward is impressive," said Brian Kang, managing director of Samsung Ventures America. "Our investment expresses our confidence in Inside's ability to continue its success not only in the contactless payment market but also in the emerging NFC technology for mobile phones."

Introduced in February, 2008, the Inside MicroRead RF chip offers a broad range of NFC options,

complying with the ISO 14443 A/B/B' standard, ISO 15693 and ISO18092, and NFC forum specifications, allowing a MicroRead-enabled device to be used not only for all traditional NFC applications, but also for new applications such as access control, logistics and tracking, as well as a wide range of legacy RFID applications.

The unique multi-host router technology built into the MicroRead chip provides the capacity to implement any secure element, including SIM, SE or SD card, to support any business model. MicroRead's exclusive, self-powered "battery-off" mode provides simplicity and convenience to improve the user experience by enabling transactions to take place successfully even when the host device is turned off or the battery is completely drained. The low-power card detection mode also provides a unique, battery life optimized, pop-up application mechanism to avoid the need to browse a menu or press a button to launch an NFC-based application.

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