Anoto enters into a manufacturing agreement with a large electronic & mobile manufacturing specialist company
Stockholm October 3, 2022 – Anoto Group AB (publ) (“Anoto”) announces that it has entered into a manufacturing agreement with SMAC (Smart Mobile Application Company), a South Korea based manufacturing company that engages in the development and manufacturing of touch and key modules for wireless communication devices. Its products are used in mobile phones, tablets, and laptops/AIOs, as well as in automotive and other applications. SMAC will be producing all Anoto and Livescribe pens starting October 1, 2022. In addition to its Korean factories, SMAC also has manufacturing facilities in Vietnam with more than 1,000 employees.
“With this contract, Anoto will be free from manufacturing issues such as procurement, managing yields, quality control of hardware, and even scaling of production. SMAC is capable of producing more than 100,000 pens a month, in case we need to scale up our production level. Also, this is going to alleviate working capital issues as Anoto no longer has to buy components up front,” says Joonhee Won, CEO of Anoto Group AB.
For further information, please contact:
Joonhee Won, CEO, Anoto Group AB (publ)
Anoto Group AB (publ), Reg.No. 556532-3929, Flaggan 1165, SE-116 74 Stockholm
This information was submitted for publication, through the agency of the contact person set out above, on 3 October 2022 at 08:00 CET.
About Anoto Group
Anoto is a publicly held Swedish technology company known globally for innovation in the area of information-rich patterns and the optical recognition of those patterns. It is a leader in digital writing and drawing solutions, having historically used its proprietary technology to develop smartpens and related software. These smartpens enrich the daily lives of millions of people around the world. Anoto currently has three main business lines: Livescribe retail, Enterprise Forms and OEM. Anoto also owns Knowledge AI, a leading AI based education solution company, as its majority-controlled subsidiary. Anoto is traded on the Small Cap list of Nasdaq Stockholm under ANOT.