October 2002.
JMI, one of ten largest Korean IT and software exporters, (http://www.jmikorea.co.kr/english/) provider of Microsoft and Samsung, has signed a strategic alliance and technology transfer agreement with Visus Photonics to develop novel LED backlights for a new generation of Samsung mobile phones and handheld devices with larger color displays. Samsung is a leading provider of LCDs and cellular phones with a world market share of 9% - 25%. An initial order from Samsung for 2003 for 1.6-2” backlights is 25,000,000 and is expected to reach 100,000,000 units corresponding to its current production level. JMI expects M$ 45 sales (12 M units) of the jointly developed product already in 2003. The R&D stage of $1,000,000 12 month project, planned to start in Q1 2003, will be supported by $500,000 grant from KORIL - Korea-Israel Industrial R&D Foundation.
