Siyata Mobile (TSXV:SIM) provided an update on the company’s progress in 2018 and also issued a preview for 2019 where the company highlighted its plans of the rollout in US in 2019. As quoted in the press release: Purchase Orders Multiple large-scale purchase orders were received by Siyata this year, representing the market demand for … Continued
Siyata Mobile (TSXV:SIM) provided an update on the company’s progress in 2018 and also issued a preview for 2019 where the company highlighted its plans of the rollout in US in 2019.
As quoted in the press release:
Multiple large-scale purchase orders were received by Siyata this year, representing the market demand for Push-to-Talk Over Cellular communication systems. Siyata’s UV350, CP250 and Rugged Smartphone devices were ordered from a variety of industries including, a First Responder network; the hospitality industry; a public transportation company; a multinational silicon chipset company; an airport logistics company; and a global two-way radio vendor and others.
Uniden® UV350 Launch with Tier 1 Canadian Operator
After trialing and testing Siyata’s Uniden UV350, Siyata launched the world’s first and only multi-purpose 4G/LTE commercial vehicle smartphone with a Tier 1 Canadian operator. The dedicated 4G/LTE in-vehicle smartphone is designed for safer, smarter and more advanced instant communication in commercial fleets and vehicles. Customer trials have commenced, and the Company expects its first order shortly.
According to Statistics Canada, there were a total of 1.16 million vehicles which fall into the commercial vehicle category, representing a total addressable market in Canada of ~$1 billion.
“We started 2018 with specific targets in mind. Despite the lengthy process that comes with cellular device launches with Tier 1 operators, we have kept moving in the right direction and reached a few critical milestones,” said Marc Seelenfreund, CEO of Siyata Mobile. “We believe that 2019 will be a great year for Siyata with significant revenue and margin growth as we roll out the UV350 in the United States, Canada and other international markets.”
2019 And Beyond
Siyata continues towards launching its Uniden® UV350 smartphone with two U.S Tier 1 operators who have distribution and sales channels many times larger than the existing sales channels of the Company.
With around 9.7 million commercial vehicles and over 3.5 million first responder vehicles that have yet transitioned to cellular based technology, the Company sees the U.S market as its largest opportunity with a total addressable market well over $11 billion. These tier 1 cellular operators have a keen interest in launching the UV350 as it allows for new SIM card activations and increased ARPU from existing customers while targeting new customers with a unique, dedicated, multi-purpose in-vehicle smartphone.
Siyata’s seven years’ experience of perfecting in-vehicle cellular based technology, industry know-how, vehicle installations, software integration with various PTT solutions and carrier integration have well positioned the Company to be launching with these U.S. operators. The Company believes the final network approval will take place in early 2019.
With the recently completed financing, the Company is well financed for this U.S rollout in 2019 and expects strong sales and margin growth in 2019.