NFC Times Exclusive Insight – Although reporting positive overall results for 2015, France-based Gemalto today said SIM revenue fell by 17% and mobile-financial services revenue dropped by 8% for the year, both of which it blamed at least in part on the closing of the U.S. Softcard joint venture last year.
Gemalto was the sole supplier of Softcard’s TSM and also the main provider of millions of relatively high-priced NFC SIM cards to Softcard telcos Verizon Wireless, AT&T and T-Mobile USA. Softcard, formerly called Isis, folded its wallet at the end of the first quarter of 2015.
Gemalto CEO Olivier Piou in August told analysts the vendor would be losing €30 million (US$33 million) per quarter from the time of the Softcard shutdown, which was by far Gemalto’s largest NFC project.