Elliptic Labs Signs New Expansion License Contract with Global Top-5 Smartphone Customer Transsion

Elliptic Labs (OSE: ELABS), a global AI software company and the world leader in AI Virtual Smart Sensorstm currently deployed in over 500 million devices, is announcing a new license contract with existing global top-5 smartphone customer Transsion. This contract encompasses the usage of Elliptic Labs' AI Virtual Proximity Sensortm INNER BEAUTY^® for several future smartphone deployments.

"It was exciting to meet with our customer Transsion at MWC in Barcelona, where we've just signed an expansion contract for more smartphones," said Laila Danielsen, CEO of Elliptic Labs. "Transsion, ranked as the fifth-largest smartphone OEM in the world, has chosen Elliptic Labs' AI Virtual Smart Sensor Platformtm to make more of their smartphones greener, smarter, and more human-friendly. We are delighted with their choice."

INNER BEAUTY is a registered trademark of Elliptic Labs.

AI Virtual Smart Sensor, AI Virtual Proximity Sensor, and AI Virtual Smart Sensor Platform are trademarks of Elliptic Labs.

All other trademarks or service marks are the responsibility of their respective organizations.

AI Virtual Proximity Sensor INNER BEAUTY

Elliptic Labs' AI Virtual Proximity Sensor detects when a user holds their phone up to their ear during a call, allowing the smartphone to turn off its display and disable its screen's touch functionality. This keeps the user's ear or cheek from triggering unwanted actions during the call, such as hanging up or dialing numbers. Turning off the screen also helps conserve battery life.

Proximity detection is a core capability that is used in all smartphones, but Elliptic Labs' AI Virtual Proximity Sensor is a unique, software-only solution that delivers robust proximity detection without the need for a dedicated hardware sensor. By replacing hardware sensors with software sensors, the AI Virtual Proximity Sensor reduces device cost and eliminates sourcing risk.

About Elliptic Labs

Elliptic Labs is a global enterprise targeting the smartphone, laptop, IoT, and automotive markets. Founded in 2006 as a research spin-off from Norway's Oslo University, the company's patented software uses AI, ultrasound and sensor fusion to deliver intuitive 3D gesture, proximity-, presence-, breathing- and heartbeat-detection experiences. Its scalable AI Virtual Smart Sensor Platform creates software-only sensors that are sustainable, human-friendly and already deployed in hundreds of millions of devices around the world. Elliptic Labs is the only software company that has delivered detection capabilities using AI software, ultrasound, and sensor fusion deployed at scale. The company joined the Oslo Børs main listing in March 2022.

Elliptic Labs is headquartered in Norway with presence in the USA, China, South Korea, Taiwan, and Japan. Its technology and IP are developed in Norway and are solely owned by the company.