The news: Trek announced that it has inked a contract with PLUS Corporation to provide
customised FluCard® to the second largest electronic Copy/White board producer in the world.
Upon adopting Trek’s patented technology, the traditional white board can now store the
scanned contents into the FluCard® and shared them wirelessly with different host devices such as PC, Notebook and Smartphone. The contract will be effective from October 2011 onwards and Trek will deliver approximately 50K units of FluCard® to Plus in FY2012.
Our thoughts: In the past, SD cards were only used as storage media for cameras. But
following Trek’s groundbreaking innovation, the wireless flash memory card can now be adopted by a wide spectrum of consumer electronics. This is because it is costly for the consumer electronics manufacturers to make all their products wireless enabled, as the license fee is US$300,000 per model. FluCard® provides the same wireless feature at a much lower cost while bringing in the storage functionality, which is deemed essential for most devices. We believe this is a positive sign as the group enables the already matured SD card technology to reach another fast growing stage. We expect the contract to contribute positively from FY2011 onwards, getting one step closer to our one million units FluCard® sales target. Maintain BUY with a TP of S$0.45.
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