Elliptic Laboratories ASA — Earnings Release 2024

Jan 5, 2024

Elliptic Labs Announcing Launch on HONOR X50 GT Smartphone

Elliptic Labs Announcing Launch on HONOR X50 GT Smartphone

Oslo, Norway --- 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 deploying its AI Virtual Proximity SensorTM INNER BEAUTY®

on HONOR's newest smartphone -- the HONOR X50 GT -- for the global market.

Elliptic Labs' partner Qualcomm will run the HONOR X50 GT smartphone with the

Snapdragon 8+ Gen 1 chipset. The contract for this launch was previously

announced by Elliptic Labs.

"Elliptic Labs' AI Virtual Smart Sensor Platform is now driving a major part

of HONOR smartphones, spanning for entry level to flagship designs," said

Laila Danielsen, CEO of Elliptic Labs. "Thanks to our leadership in AI/ML,

ultrasound technology, and sensor fusion, HONOR's continued selection of the

AI Virtual Smart Sensor Platform demonstrates our joint commitment to driving

innovation and modern smartphone design. The largest smartphone makers in the

world like HONOR look to Elliptic Labs to deliver products that are greener,

smarter, and more human-friendly."

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.

Contacts

Investor Relations:

Lars Holmøy

Lars.Holmoy@ellipticlabs.com

PR Contact:

Patrick Tsui

pr@ellipticlabs.com

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 create AI Virtual Smart Sensors that deliver intuitive 3D

gesture-, proximity-, presence-, breathing-, and heartbeat -detection

experiences. Its scalable AI Virtual Smart Sensor PlatformTM 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 is

listed on the Oslo Børs.

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.

Trademark

INNER BEAUTY is a registered trademark of Elliptic Labs.

AI Virtual Smart Sensor, AI Virtual Smart Sensor Platform, AI Virtual

Proximity Sensor, AI Virtual Presence Sensor, AI Virtual Connection Sensor, AI

Virtual Gesture Sensor, AI Virtual Heartbeat Sensor, and AI Virtual Breathing

Sensor are trademarks of Elliptic Labs.

All other trademarks or service markets are the responsibility of their

respective organizations.