Immersion strikes multi-year licensing deal with Xiaomi, shares +1.6% AH

|About: Immersion Corporation (IMMR)|By:, SA News Editor

Immersion (IMMR) also states Xiaomi is using its TouchSense haptic feedback tech in its new Mi3 Android flagship phone. (PR)

Xiaomi, which recently raised funding at a $10B valuation, is looking to sell 15M smartphones this year, more than twice the 7.2M it sold last year.

Thanks to its use of TouchSense, the Mi3 allows users to customize the strength of the haptic effects they experience, and to create custom haptic effects for its built-in Compass, Calculator, Torch, Clock, and Recorder apps.

Immersion has largely tread sideways since May after rocketing higher earlier in the year, thanks in large part to a Samsung licensing deal.