CoAsiaOptics Signs MOU with InSignal for Metaverse Device Development as Qualcomm XR Design House

[Asia Economy Reporter Hyunseok Yoo] Korea Asia Optics, a camera module specialist company, announced on the 21st that it has signed a Memorandum of Understanding (MOU) for the metaverse hardware business with Insignal, Qualcomm's official XR (Extended Reality) metaverse design house in Korea, and its affiliate Korea Asia CM.

Through this agreement, the two companies plan to collaborate on the overall business, including the development of metaverse hardware such as VR (Virtual Reality), AR (Augmented Reality), MR (Mixed Reality), and XR. In particular, Insignal will provide Korea Asia Optics and Korea Asia CM with the specifications and information of cameras required for metaverse hardware (XR·AR glasses). Korea Asia Optics and Korea Asia CM will develop products that meet the camera specifications and quality.

Once camera development is completed, according to the agreement, Insignal will actively adopt the products, and Korea Asia Optics and Korea Asia CM will sell the metaverse hardware using their sales networks. The company’s strategy is to focus on R&D of cameras for metaverse hardware by utilizing its patents and state-of-the-art production lines.

A representative of Korea Asia Optics said, “We are pleased to enter the high-growth metaverse business with Insignal, which has been selected as Qualcomm’s official XR metaverse design house in Korea due to its high technological capabilities,” adding, “We will strive to develop camera modules for various new growth businesses such as autonomous driving and OIS (Optical Image Stabilization) along with the metaverse.”

Korea Asia Optics, originally a lens specialist company, was reborn as a one-company camera lens and module manufacturer last year in the fourth quarter by becoming the largest shareholder of Korea Asia CMBina, a camera module manufacturer. Along with this, it also acquired Korea Asia CM, which is responsible for IT parts purchasing and sales, securing the advantage of a sales network.

Meanwhile, Insignal, established in 2010, is the only official Korean design house in Qualcomm’s XR metaverse field. Insignal provides services to help customers develop various metaverse hardware by utilizing Qualcomm chips and solutions.