Editing by Greg Gao

iFLYTEK, a well-known listed Chinese voice recognition, and artificial intelligence company said that it has big market potential for both its educational tablets and automobile products.

It gave the information on its investor relations information platform recently.

The company previously predicted that educational tablets have a market potential size of over RMB10 billion($1.58 billion) for a single product. The penetration of educational tablets will be greatly improved in the future according to the current expanding rate.

It uses now all the core chips for its educational tablets by Chinese companies, indicating lowering costs.

For its automobile business, iFLYTEK revealed that it initially provided automatic speech recognition modules to car manufacturers and then shifted to intelligent interactive devices. Now the company offers intelligent automobile audio control systems. With more and more cooperation with auto manufacturers, iFLYTEK’s average revenue per user(ARUP) on each vehicle will continue to increase. The company is expected to provide more content and services for automobiles, bringing increasing revenues in the future.

Founded in 1999 and based in Hefei, Anhui Province in East China, iFLYTEK is a leading AI company. Since its establishment, the company has been devoted to cornerstone technological research in speech and languages, natural language understanding, machine learning, machine reasoning, adaptive learning. The company actively promotes the development of AI products and applications. In 2008, iFLYTEK went public on the Shenzhen Stock Exchange (stock code 002230), according to its website.