Corporate News Blog - Consumer Electronics Giant LG Partners with CEVA For Developing a Low-cost Smart 3D Camera

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Corporate News Blog - Consumer Electronics Giant LG Partners with CEVA For Developing a Low-cost Smart 3D Camera

LONDON, UK / ACCESSWIRE / October 19, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for CEVA, Inc. (NASDAQ: CEVA), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=CEVA. The Company announced on October 17, 2017, that it has entered into a partnership with LG Electronics for the development and delivery of a high-performance, low-cost smart 3D camera solution. The smart 3D camera is being designed specifically for consumer electronics and robotic applications. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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Commenting on the partnership with CEVA, Shin Yun-sup, Principal Engineer at LG Electronics, said:

"There is a clear demand for cost-efficient 3D camera sensor modules to enable an enriched user experience for smartphones, AR and VR devices and to provide a robust localization and mapping (SLAM) solution for robots and autonomous cars. Through our collaboration with CEVA, we are addressing this demand with a fully-featured compact 3D module, offering exceptional performance thanks to our in-house algorithms and the CEVA-XM4 imaging and vision DSP."

Ilan Yona, Vice President and General Manager of CEVA's Vision Business Unit, added:

"We're delighted to announce our collaboration with LG for the 3D camera module market. Our CEVA-XM family of imaging and vision DSPs and software development environment allows companies like LG to deploy their in-house developed computer vision and deep learning technologies quickly and efficiently."

About the new Smart 3D Camera module

The new 3D camera module will be powered with a Rockchip RK1608 coprocessor with multiple CEVA-XM4 imaging and vision DSPs, which provide the processing power to perform a wide variety of 3D sensing applications. Some of these applications include biometric face authentication, 3D reconstruction, gesture/posture tracking, obstacle detection, AR (augmented reality), and VR (virtual reality). Computer vision experts of all three companies - CEVA, Rockchip, and LG - had earlier worked together to optimize LG's proprietary algorithms for the CEVA-XM4 using CEVA's tool kit and optimized algorithm libraries. This collaboration helped ensure that CEVA-XM4 would offer the best performance even under stringent power constraints.

LG plans to launch the new smart 3D module for demonstration at the CEVA Technology Symposium Series in China and Taiwan scheduled from October 23, 2017, till October 27, 2017. Computer experts from both CEVA and LG will be available to meet with visitors at these events.

CEVA's strides in imaging and vision DSP platforms

CEVA has made giant advancement in the field of imaging and vision DSP and its latest generation platforms are equipped to handle the extreme processing requirements and low power constraints associated with most of the sophisticated machine learning and machine vision applications used in smartphones, surveillance, augmented reality, sense and avoid drone's and self-driving cars. CEVA uses a hybrid architecture composed of scalar and vector DSP processors coupled with a comprehensive Application Development Kit (ADK) to streamline software deployment for these DSP-based platforms. These platforms are CEVA-Link and CEVA Deep Neural Network (CDNN2). CEVA-Link is for seamless software level integration with a host processor; a range of widely used and optimized software algorithms while CDNN2 is a real-time Neural Network software framework which streamlines machine learning deployment at a fraction of the power consumption of the leading GPU-based (graphics processing unit) systems, and state-of-the-art development and debugging tools.

About CEVA Inc.

Mountain View, California based CEVA was formed in November 2002 as a result of the merger between DSP IP licensing division of DSP Group, Inc., and Parthus Technologies Plc. The Company is a leading licensor of signal processing IP for a smarter, connected world and partners with semiconductor companies and OEMs worldwide to create power-efficient, intelligent and connected devices, including mobile, consumer, automotive, industrial, and IoT (Internet of Things). The Company has an extensive global presence with design centers in Israel, Ireland and France, and sales and support offices located in Europe, US, and across Asia. The Company is supported by a global team of over 300 employees.

About LG Electronics, Inc.

Seoul, South Korea based LG is a global leader and technology innovator in consumer electronics, mobile communications, and home appliances. The Company is one of the world's leading producers of TVs, mobile devices, air conditioners, washing machines, and refrigerators. The Company has four main business divisions - Home Appliance & Air Solutions; Mobile Communications; Home Entertainment; and Vehicle Components.

The Company recorded global sales of $47.9 billion in FY16. The Company has a worldwide presence in over 47.9 billion and is supported by a team of 75,000 employees.

Last Close Stock Review

On Wednesday, October 18, 2017, the stock closed the trading session at $45.15, marginally down 0.55% from its previous closing price of $45.40. A total volume of 81.87 thousand shares have exchanged hands. CEVA's stock price skyrocketed 5.74% in the last one month, 24.90% in the past six months, and 46.35% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have soared 34.58%. The stock is trading at a PE ratio of 60.28 and currently has a market cap of $980.30 million.

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