This article first appeared in The Edge Financial Daily, on May 24, 2016.

KUALA LUMPUR: EG Industries Bhd has clinched a two-year contract worth US$36 million (RM146 million) from Swedish-based Shortcut Labs AB to be the sole manufacturer of a wireless smart button, known as Flic, and to distribute the button in Asia.

Flic is a wireless smart button that creates a shortcut to favourite actions on mobile devices like taking pictures and playing music, according to EG Industries in a statement yesterday. 

EG Industries group chief executive officer and executive director Alex Kang said the contract had opened prospects for the group to support fast-growing adoption of smart interconnecting devices, apart from affirming its proposition as a one-stop manufacturing partner.  

“The group perceives [the] tremendous potential of this device. Hence, in addition to producing Flic, we are also their sole distributor in [the] Asian market and in the near future would also explore potential opportunities in [the] Australasia region,” he added.  

Having secured International Procurement Centre status, EG Industries said it intends to offer value-added services through one-stop vertical integration solutions, including distribution.

Flic was launched in October 2015. In six months, over 100,000 units of Flic were sold chiefly in the United States and Europe, leading to full commercialisation of its production.

Shortcut Labs has begun teaming up with various partners to integrate Flic into its products and services. Last November, pizza delivery company Domino’s launched its Easy Order system in Britain at the touch of a Flic button, while automaker Volvo is set to introduce Flic compatibility for its Volvo On Call alert system.

“We are overwhelmed by the popularity Flic has gained over a short span of time. With EG Industries’ commitment, we are able to focus on exploring potential markets globally,” said Shortcut Labs co-founder and chief operating officer Amir Sharifat.