IMINT Image Intelligence AB (publ) has today signed a license agreement for the software Vidhance with Guandong Oppo Mobile Telecommunications Cor., LTD. The agreement allows Oppo to include functions within Vidhace for video enhancement, including video stabilization. The agreement includes Oppo’s smartphone products under the Oppo, Realme and OnePlus brands.
Oppo, headquartered in Dongguan, Guandong, China, was founded in 2001 and has grown into one of the world’s largest manufacturers of smartphones in recent years. According to IDC, Oppo was ranked fifth in the smartphone volume in the third quarter of 2018. The license agreement includes several features from the Vidhance product family, such as video stabilization, motion blur reduction, and software support for OIS camera modules (Optical Image Stabilization). The agreement runs annually with automatic extension unless termination takes place. The agreement is based on fixed license fees per year, and includes support and maintenance. Revenue from the agreement depends on the customer’s decision for different brands, and which Vidhance functions are included in the customer’s products. Imint makes the assessment that this year’s revenue from the agreement can amount to a maximum of 10% of the year’s turnover.
Andreas Lifvendahl, CEO, comments:
“With this agreement, we have taken a central approach to the Chinese smartphone market, and we have the four major companies as customers, with the previous agreements with Huawei, Xiaomi and Vivo.We are proud of Oppo’s confidence, and look with confidence in the opportunity to deepen cooperation over time. “