• Based on the Automotive Business Division established in 2014, continuous expansion of the automotive-grade product line and establishment of cooperation with domestic and international automobile manufacturers

• Accelerating the development of integrated module solutions for realizing next-generation smart cars that combine various technologies such as cellular communication, location-based services, and wireless functions

Seoul, June 30, 2015 Telit (CEO Derek Sang, www.telit.com), a company specializing in IoT (Internet of Things) module and platform services, announced today that it plans to supply Telit's latest technology and high-performance automotive-specific modules through close cooperation with domestic and international automobile manufacturers, while strengthening technology investment and business models of its Automotive Solutions division to expand the market for smart cars and automotive module solutions.

Telit, celebrating its 13th anniversary in the IoT (Internet of Things) business this year, is strengthening its comprehensive consulting business under the vision of providing integrated solutions of 'ONE STOP, ONE SHOP' to solidify its position as one of the world's top three IoT providers and to continue the double-digit growth rate it has maintained for over 10 years, while also striving to discover successful IoT cases applicable across various industries. In particular, this year, we are accelerating development and investment to provide a dedicated automotive module product line and comprehensive Connected Car solutions capable of implementing remote control, real-time vehicle status information transmission, and streaming services in relation to the next-generation 'smart car,' which is considered a key business keyword for 2015 in the industry.

According to research by Telit, future smart cars will be implemented in a mixed and integrated form, incorporating various technologies such as cellular communications (2G, 3G, 4G), location-based services (GPS, Glonass, Galileo), remote data transmission and reception capabilities, and wireless functions. Furthermore, with the global adoption rate of smart cars projected to reach approximately 57% by 2021, there is a demand for the development of a stable integrated module solution capable of managing all these functions.

In early 2014, Telit established the 'Automotive Solutions' business unit to target the automotive OEM market. Led by Dominikus Hierl, a long-time industry expert, the company has been continuously adding new products to its lineup of high-performance automotive-grade products. Furthermore, the company has obtained the global ISO/TS16949 certification, which is essential for automotive applications, and maintains its leadership in the automotive market by offering a broad portfolio in the automotive sector, including LTE and HSPA+ modules. Telit, which identified "concretizing automotive market strategy" as one of its domestic specialized strategies last year, is achieving tangible results as part of its strategy by establishing close cooperative relationships with domestic and international automobile manufacturers and supplying products for telematics systems.

In addition, Telit is committed to developing industry-leading platforms optimized for smart cars, including the acquisition of the Automotive Telematics On-board Unit Platform (ATOP) business unit from Dutch component company NXP Semiconductors.

Kim Ho-sang, Managing Director of Sales for Korea and Japan at Telit, stated, “Korea, one of the world’s top five automobile manufacturing nations, is expected to show rapid growth in the global smart car market in the future, coupled with its strong IT capabilities.” He added, “Competition for smart cars is already heating up in the global automotive industry. Through its Automotive business unit, Telit will strive to expand its influence in the domestic market in 2015 by continuously collaborating with the domestic industry and increasing R&D investment to establish business models alongside technological development.”