Siva: New agreement with Chinese manufacturer – Global

Connectivity Technology Company

Siva
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Reports an agreement with a Chinese chip company to supply Bluetooth technology for wearable devices, computing devices and smart home applications. The company also updates that it has launched a new platform that will for the first time combine audio technologies and Bluetooth connectivity in a single solution. The development is based on hardware and software and is intended for wireless stereo headphones, wearable devices, wireless handsfree and smart watches.

The said agreement was signed with the Chinese Nations, which is developing chips for secure connectivity in wearable devices, computing devices, smart home applications and payment cards. Under the agreement, Siva’s Bluetooth technology will be integrated into one of Nation’s chipsets.

As for the new platform that will be launched called Bluebud, it includes a system for managing battery life and enables precise synchronization between wireless headphones and applications like voice assistant, noise cancellation, voice recognition, artificial intelligence and smart sensing for sports and health applications. Siva claims that the development will meet the needs of manufacturers of wireless audio products in everything related to shortening development times and rapid penetration into the market, which is characterized by a high entry threshold and provides them with a competitive advantage.

According to data from the research company ABI, which cites Siva, starting in 2024, $ 2 billion worth of products are expected to be sold each year in the category of audio devices that operate via Bluetooth connectivity, a market that is expected to grow significantly in the coming years.

Siva provides wireless connectivity technologies and smart sensing to the cellular, electronics, automotive, robotics and Internet-of-Things (IoT) markets. The company’s products include digital signal processors in the field of communications and cellular infrastructure (4th and 5th generation), and in the field of computer vision for cameras; Artificial intelligence processors; Sensor fusion software, image processing and augmented and virtual reality applications; Audio, voice and speech processors for voice applications; And Wi-Fi and Bluetooth connectivity technologies.

The company’s revenues in the fourth quarter totaled $ 28.1 million, a decrease of 1% compared to the corresponding quarter. Revenue from the sale of licenses and development tools for chip design decreased by 18% compared to the corresponding quarter and reached $ 12.1 million, about 43% of turnover; While royalty revenues increased by 19% compared to the corresponding quarter to a peak of $ 16.1 million, about 57% of total revenues. Excluding the listing of employee stock options and acquisition-related expenses, adjusted earnings were down 31% from the same quarter last year to $ 4.7 million, while adjusted earnings per share were down 33% to 20 cents, 9 cents above analysts’ forecasts.