March 19, 2020 / 7:38 AM / 13 days ago

BRIEF-Smart Eye Gets Four Contrats Worth In Total About SEK 500 Mln

March 19 (Reuters) - Smart Eye AB (publ):

* SMART EYE CROWNED BY SUCCESS, ANNOUNCES 24 NEW DESIGN WINS WITH FOUR DIFFERENT OEMS IN ONE FELL SWOOP

* ESTIMATED COMBINED LIFE-TIME VALUE OF FOUR CONTRACTS IS AT LEAST 500 MSEK

* CAR PLATFORMS ARE ALL ESTIMATED TO GO INTO PRODUCTION IN 2022 WITH A STRING OF NEW CARS BEING LAUNCHED OVER FOLLOWING YEARS

* ON CORONAVIRUS: AS A PRECAUTIONARY MEASURE WITH CURRENT MARKET VOLATILITY DUE TO CORONA VIRUS, SMART EYE HAS DECIDED TO LOWER ITS OPERATING COSTS IN ORDER TO CONSERVE CASH

* COST REDUCTION PROGRAM ENTERS INTO EFFECT IMMEDIATELY Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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