Resonant Issues Shareholder Letter and Provides Corporate Update - Seite 2
|Filter Market||Duplexer Market|
Leading RF Filter and Duplexer Manufacturers (Source: Navian, 2019)
Work with this partner started quickly, and by October 2020 we successfully delivered against our second milestone ahead of schedule, which required us to achieve previously determined target performance, packaging and initial reliability. In conjunction with this milestone achievement, we received a $2.5 million payment and, more importantly, moved towards the next phase of the agreement which focuses on building a commercial platform and high-volume manufacturing of our XBAR 5G RF filters. Our strategic partner has exclusivity to our XBAR technology for mobile applications until March 2022, and with two of four milestones already achieved, we remain extremely optimistic about our strategic partnership.
We also continue to make significant progress with our 4G RF filter solutions as a result of our standard product library that we are leveraging with customers around the world. Leveraging this solution, we signed a multi-year licensing agreement with a dominant Asian filter foundry partner, which includes both prepaid revenues and royalties. As we enter 2021, we will have completed the designs for a total of seven 4G RF Filter designs covering multiple bands, which collectively represent a worldwide total addressable market of approximately $1.6 billion.
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