Immersion Signs LG Electronics to a Multi-Year Renewal License for TouchSense® Software

License to the HD haptic software enables the phone maker to expand the use of touch effects throughout its mobile apps in all LG phones

SAN FRANCISCO--(BUSINESS WIRE)--Sep. 29, 2020-- Immersion Corporation (NASDAQ: IMMR), the leading developer and provider of technologies for haptics, today announced that it has signed a multi-year license renewal with LG Electronics, Inc., for continued use of TouchSense^® software and haptic technologies in its mobile devices.

Haptics is now a presumed feature in smartphones, used to turn flat surface areas into buttons as well as enhance device functionality and user experience. Innovations in mobile haptic use cases will continue to improve people’s interactions with their digital devices, making them more intuitive to use.

TouchSense software makes it easy to program haptic effects for basic and intricate use cases that require high fidelity haptic rendering to feel real. The software optimizes haptic system performance to deliver high-quality effects. It enables phone makers to turn around effects in a shortened timeframe and add enhancements to their phones as they are being readied for the market and with software updates.

“The LG brand is innovative, forward-thinking, and synonymous with high-quality products,” said Jared Smith, VP of Worldwide Sales at Immersion. “We’re happy that TouchSense software continues to provide value to our key customer, and that we can help LG show the world that haptics provides a fuller and more fulfilling experience than audio and visual alone.”

Immersion’s haptic technology enables device manufacturers to simulate the experiences of the real world, digitally. With TouchSense software, device manufacturers can design high-quality tactile effects that enhance the user experience for mobile apps and device UI.

The terms of the deal between Immersion and LG Electronics are confidential; however, the license agreement falls in line with Immersion’s per-unit royalty model, quarterly payments, and revenue recognition.

About Immersion

Immersion Corporation (NASDAQ: IMMR) is the leading innovator of touch feedback technology, also known as haptics. The company invents, accelerates, and scales haptic experiences by providing technology solutions for mobile, automotive, gaming, and consumer electronics. Haptic technology creates immersive and realistic experiences that enhance digital interactions by engaging users' sense of touch. Immersion is headquartered in San Francisco, California, with offices worldwide. Learn more at www.immersion.com.

Forward-looking Statements

This press release contains "forward-looking statements" that involve risks and uncertainties, as well as assumptions that, if they never materialize or prove incorrect, could cause the results of Immersion Corporation and its consolidated subsidiaries to differ materially from those expressed or implied by such forward-looking statements.

All statements, other than statements of historical fact, are statements that may be deemed forward-looking statements. Examples of forward-looking statements contained herein include, but are not limited to, the statement that innovations in mobile haptic use cases will continue to improve people’s interactions with their digital devices, making them more intuitive to use, and statements about the impact of haptics on user experiences.

Immersion's actual results might differ materially from those stated or implied by such forward-looking statements due to risks and uncertainties associated with Immersion's business, which include, but are not limited to: a lack of continued innovation in haptic technology, and changing consumer preferences and expectations with respect to mobile device technology.

For a more detailed discussion of these factors and other factors that could cause actual results to vary materially, interested parties should review the risk factors listed in Immersion's most current Form 10-K, and Form 10-Q, both of which are on file with the U.S. Securities and Exchange Commission. The forward-looking statements in this press release reflect Immersion's beliefs and predictions as of the date of this release. Immersion disclaims any obligation to update these forward-looking statements because of financial, business, or any other developments occurring after the date of this release.

Immersion and the Immersion logo are trademarks of Immersion Corporation in the United States and other countries. All other trademarks are the property of their respective owners.

(IMMR – C)

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For Media Inquiries, Contact:
Linda Quach
408.350.8832
lquach@immersion.com

For Investor Inquiries, Contact:
Aaron Akerman
514.987.9800, ext. 5110
aakerman@immersion.com

Source: Immersion Corporation