Citizen Watch Co, the second largest Japanese watch-maker, and Nippon Telegraph & Telephone have signed an exclusive embedded microprocessor Smart Card manufacturing and marketing agreement: Citizen is investing $7.2m to start manufacturing the cards, which will be sold at around $8 through Nippon Telegraph’s distribution network; Citizen hopes to have the cards ready for next month, and expects to sell 1m of them, mainly in Europe for applications in the banking, insurance, commrcial and health sectors, by the end of the financial year.
