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Resonant broadens Tier-1 Chinese license +3

Resonant has announced that it has doubled the number of bands licensed to an existing Tier-1 Chinese foundry customer.  The designs come from the company's standard product library, with the first third of anticipated volume being covered by pre-paid royalties.  This probably doesn't have as much value as this morning's Akoustis WiFI 6E win, since Resonant doesn't specify the bands that are being licensed or the volumes anticipated, but unlike that, it's money in hand. 

Perhaps we can get some idea of how much when Resonant reports again in early May.  In the meantime, I've been trying to research the prospects with an electrical engineer, who acknowledges the potential advantages of Resonant's lithium niobate designs, but emphasizes the difficulty of overcoming inertia from the incumbents in this industry.  That's going to be even harder with phone production consolidating outside of Asia.  I still think the market is big enough for both new players, but worry about compensation for intellectual property in the Chinese market.  Dilution from Resonant's shelf also remains a concern, especially with RESN up 5% in the pre-market.