Xped has signed a significant license agreement with Shenzhen Lenze Technology Co,.Ltd. Under the terms of the agreement Lenze Technology has licensed Xped's Auto Discovery Remote Control ("ADRC") technologies in return for a fee payable per active download of the Xped App.
Xped will develop Shenzhen Lenze Technology and their OEM branded Apps based on the Xped App and utilise benefits of the Xped Infrastructure Platform.
Shenzhen Lenze Technology Co. LTD and their subsidiary Complex Semiconductor (HK) Co. LTD are a mass market producer of consumer devices. Lenze sells under their own brands and also produce OEM products for worldwide distribution. Total Lenze sales exceeded 100 million devices in 2016. Lenze produces some "Disney" branded merchandise and some of their large customers include iQiYi and Moijing.
Xped is currently working closely with Shenzen Lenze Technology on the first range of applications under this license agreement.
Xped is expecting revenue from this agreement in 2nd half of 2017.
More information on specific products will be available as they are launched.
ASX Market Release: ASX Release 24.1.2017