Immersion (NASDAQ:IMMR) TouchSense technology to integrate with Nintendo Switch gaming system and allow for developers to use Immersion software for game design.
Immersion CEO Vic Vegas: "We are thrilled about the opportunity to work with Nintendo to bring Immersion’s TouchSense technology to their customers. Nintendo sets the bar with their gaming systems, and adding advanced touch effects will give them an additional edge in delivering an incredible gaming experience to their customers." [press release]
Apple has filed for review of Immersion claims 1-3, 5, 7, 9-13, 15, 17, 19-23, 25 and 26 of of U.S. Patent No. 8,773,356 B2 (Ex. 1001, “the ’356 patent”) and has been granted the request given Apple's "reasonable likelihood of prevailing in showing the unpatentability" of those claims.
Immersion (NASDAQ:IMMR) shares to $10.23 at midday.
In a report stating Apple (NASDAQ:AAPL) is moving to a 3-year iPhone upgrade cycle, Japan's Nikkei reports 2017 iPhones will be able to "create more complex tactile vibrations on the display because of a tiny, but high-performance motor equipped inside."
Haptic tech developer Immersion (IMMR +6.8%) appears to be getting a lift from the report. Immersion, which has haptics licensing deals with many Android OEMs, is less than four months removed from suing Apple and AT&T for allegedly infringing its IP.
Immersion (NASDAQ:IMMR) is up 15.9% after hours to $8.99 after beating Q4 estimates on the back of an 18% Y/Y increase in royalty/license revenue to $15.8M.
2016 sales guidance is at $55M-$65M vs. a $64.3M consensus. However, the outlook doesn't include any revenue that would come from a renewal of Immersion's licensing deal with Samsung, which expired at the end of 2015. Net income guidance (affected by the recently-filed Apple/AT&T suit) is at -$8M to $3M.
Along with the numbers, Immersion has announced CFO Paul Norris is retiring, effective tomorrow. CEO Vic Viegas will serve as interim CFO until Norris' successor is found.