The Conversation (0)
Siyata Mobile (TSXV:SIM) announced that it has achieved sales in excess of CS$5 Million owing to numerous factors including the early launch of its 4G/LTE Push-to-Talk Over Cellular device portfolio over the last three months. As quoted in the press release: The growth in revenue comes after the two previous quarters were focused on shifting …
Siyata Mobile (TSXV:SIM) announced that it has achieved sales in excess of CS$5 Million owing to numerous factors including the early launch of its 4G/LTE Push-to-Talk Over Cellular device portfolio over the last three months.
As quoted in the press release:
The growth in revenue comes after the two previous quarters were focused on shifting new and existing customers from legacy 3G products to the new 4G/LTE portfolio. Purchase orders were received by cellular operators, two-way radio vendors, and distributors around the globe and sold to first responders, municipalities, hotels, bus and other logistics and transportation companies. The Company also reports it is receiving excellent feedback from the carriers that are selling the devices and its end use customers.
Siyata’s revenue since the launch was greater than any other portfolio in the Company’s history and is telling sign of the strong demand from carriers and their customers looking to replace aging two-way technology to smarter, more advanced, 4G/LTE systems to communicate. Android based applications and other features available on Siyata’s devices helps improve driver/worker safety and enterprise efficiencies not offered by traditional two-way radios and is a major selling feature of Siyata’s 4G/LTE devices.
As cellular operators generally do not generate revenue from two-way radio communication, there is a strong push for carriers around the world to take market share from two-radio network providers. In order to do this, cellular operators need to replace two-way radio systems with cellular based hardware to be compatible on their network with a SIM card.
Marc Seelenfreund, CEO and Chairman of Siyata Mobile, stated, “Developing and marketing our 4G/LTE portfolio was a priority for Siyata and we are happy to report that we are now producing meaningful results, improving margins and continuously growing our distribution. We are witnessing a paradigm shift in the industry where enterprise customers want a more robust, efficient and cost-effective solution than single purpose two-way radios and we believe that we are well positioned to become a global leader in the PoC market. We look forward to continuing success as we prepare to launch the UV350 with Tier 1 carriers in North America, a market 30 times the size of our current distribution reach.”
The UV350 is the world’s first and only purpose built 4G/LTE in-vehicle cellular device available which strongly positions Siyata Mobile to benefit from the tremendous shift in the industry towards all-in-one devices, for smarter, cellular based communications in the enterprise world.
According to the United States Department of Transportation, in 2015 there were over 12 million fleet vehicles in the United States, with a large number still using two-way radio systems to communicate. Siyata aims to be the leading provider of connected vehicle and mobile hardware solutions as these commercial fleets upgrade their communication platforms to be compatible with next generation networks, PoC solutions and other software applications.