Rayence said Tuesday that it has signed an agreement to export its dental CMOS detector to a Chinese company.
Starting on May 1, the company began to supply 14.6 billion won ($13.5 million) worth of equipment for five years. Rayence did not announce the name of its Chinese partner due to confidentiality reasons, however.
With the agreement, Rayence plans to diversify the clients of CMOS detector to various customers and expand its reach to the global market.
“The accord validates our detector technology and is also an example of the company’s effort to diversify customers in the dental X-ray machine market,” the company said. With this contract, the company aims to expand sales of its CMOS detectors to dental imaging companies.
“In the dental CMOS detector sector, there are no competitors that can match our technology, price competitiveness and customer case,” the company said. “Also, the demand to manufacture high-quality dental imaging equipment in emerging markets is increasing.”
In addition to future dental products, the company will also launch various medical and industrial products that utilize proprietary CMOS technology and intends to expand its market share.
“Unlike our competitors, local and foreign, which only focus on a single technology, Rayence covers technologies for TFT LCD, TFT and CMOS,” Rayence CEO Kim Tae-woo said. “Our products have also proved itself in the dental X-ray market for more than 10 years.”
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