Smith Micro Announces New SafePath OS™ Solution Expanding its Focus on Family Safety
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Insights
With the introduction of SafePath OS™ by Smith Micro Software, Inc., there is a notable shift in the market for digital family safety solutions. The traditional model, which relies heavily on subscription-based apps, is being challenged by this integrated software-hardware approach. The value proposition for Mobile Network Operators (MNOs) lies in differentiation and customer retention, as they can now offer a unique product that caters to the growing concern among parents about digital safety for children.
The strategic move to pre-install SafePath OS on devices could potentially increase device sales through MNO channels, as it adds a layer of value that over-the-top (OTT) services cannot match. This could lead to a competitive advantage for MNOs partnering with Smith Micro, potentially impacting market shares within the family segment of the mobile market. Moreover, the always-active VPN and evasion protection features embedded in the software may appeal to security-conscious consumers, potentially leading to higher adoption rates.
From a financial perspective, the introduction of SafePath OS represents a potential new revenue stream for Smith Micro Software, Inc. The company's expansion from a subscription app-only solution to enabling MNOs to offer devices powered by SafePath OS could diversify its income sources and strengthen its financial position. The timing of the release, slated for the second half of the year, suggests that financial impacts may become more apparent in future quarterly earnings.
Investors should monitor the adoption rate of SafePath OS among MNOs and the subsequent consumer uptake. A successful launch and partnership with major MNOs could lead to upward revisions in revenue forecasts and possibly an increase in Smith Micro's stock valuation. Conversely, any delays or lower-than-expected adoption could temper expectations and affect the company's financial performance.
The cybersecurity implications of SafePath OS are significant, particularly in the context of increasing threats in the digital landscape. By offering pre-determined parental control settings and an always active VPN, Smith Micro is addressing a critical market need for enhanced digital protection for children. The evasion protection feature, which prevents the SafePath software from being bypassed, adds an additional layer of security that could set a new standard for children's devices.
As cyber threats continue to evolve, the robustness of SafePath OS's security features will be under scrutiny. Its effectiveness in protecting against emerging threats will be a key factor in its long-term success and adoption by MNOs and consumers alike. The cybersecurity industry will be watching closely to evaluate the impact of such integrated solutions on the overall safety of digital environments for young users.
New Software-Based Solution Will Provide Mobile Network Operators with a Robust Option for a Safer Kids Phone
A software-only solution, SafePath OS will expand Smith Micro’s reach from a subscription app-only solution to enabling MNOs to offer devices powered by SafePath OS. SafePath OS will provide an option for MNOs to market and promote a safe and secure kids device pre-loaded with the SafePath OS and position MNOs to more fully compete with over-the-top family safety solutions. Most importantly, the selected device will come out of the box ready to use with pre-determined parental control settings, an always active VPN, and evasion protection so that SafePath cannot be bypassed or evaded.
“Rapid technological change in both our digital and physical worlds has certainly enabled productivity and connection, but has also opened pathways to dangers and threats, often aimed at children,” said William W. Smith, Jr., president, CEO, and chairman of the board of Smith Micro. “We are designing SafePath OS to provide MNOs a way to assuage the anxiety often felt by parents and guardians when their child gets their first phone, making it a smooth transition that is fully wrapped with the powerful safeguards provided by SafePath to protect them from both digital and physical hazards.”
SafePath OS will be offered through MNOs in
“This is an exciting next step in expanding how our SafePath solution makes its way into consumers’ hands.” Smith continued, “SafePath OS will offer our MNO partners a way to differentiate themselves from other family safety competitors and to demonstrate their commitment to their subscribers’ well-being and safety by giving parents peace of mind while providing a safer way for kids to enjoy the freedom of getting that first phone.”
About SafePath®
The SafePath platform, currently comprised of SafePath Family™, SafePath IoT™, SafePath Home™, SafePath Drive™, SafePath Premium™, SafePath OS™ and SafePath Global™ provides comprehensive and easy-to-use tools to protect digital lifestyles and manage connected devices through a single app. As a carrier-grade, white-label solution, SafePath empowers wireless service providers and cable operators to bring to market full-featured, on-brand family safety solutions that provide in-demand services such as location, parental controls, screen time management and driver monitoring to mobile subscribers. Delivered to end users as value-added services, SafePath-based solutions activate new revenue opportunities for service providers while helping to increase brand affinity and reduce subscriber churn. Learn more at smithmicro.com/safepath.
About Smith Micro Software, Inc.
Smith Micro develops software to simplify and enhance the mobile experience, providing solutions to some of the leading wireless service providers around the world. From enabling the family digital lifestyle to providing powerful voice messaging capabilities, Smith Micro’s solutions enrich today’s connected lifestyles while creating new opportunities to engage consumers via smartphones and consumer IoT (Internet of Things) devices. The Smith Micro portfolio also includes a wide range of products for creating, sharing, and monetizing rich content, such as visual voice messaging, optimizing retail content display and performing analytics on any product set. For more information, visit www.smithmicro.com.
Smith Micro, the Smith Micro logo, SafePath and Digital Family Lifestyle are registered trademarks or trademarks of Smith Micro Software, Inc. All other trademarks and product names are the property of their respective owners.
Forward-Looking Statements
Certain statements in this press release are forward-looking statements regarding future events or results within the meaning of the Private Securities Litigation Reform Act, including statements related to the future availability and launch release of Smith Micro’s products and services and/or enhancements and updates to our products and services by our customers, other projections of outlook or performance and future business plans, and the benefits that Smith Micro believes our solutions will offer to our customers and to their end users, and statements using such words as “expect,” “anticipate,” “believe,” “plan,” “intend,” “could,” “will” and other similar expressions. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Among the important factors that could cause or contribute to such differences are unanticipated delays or obstacles in our development and release cycles, the degree to which competing business needs may affect our allocation of resources to planned projects, the degree to which our customers adopt, offer and promote our products and services and our planned enhancements and updates thereto or the degree to which their end users adopt our products and services and our planned enhancements and updates thereto in the time period that we expect or at all, our reliance on third party operating systems for the proper operation and delivery of our solutions and any barriers to our use of such third party technology, our reliance on third party application stores for the distribution of our software applications and any barriers to such distribution, including any delay or failure of such third party to approve new versions of our applications or their implementation and/or application of policies that may be harmful to our business, our ability to attract and retain key technical personnel that are essential to our product development efforts, the impact of the COVID-19 pandemic on our business and financial results, changes in demand for our products from our customers or their end users, changes in requirements for our products imposed by our customers or by the third party providers of software and/or platforms that we use, new and changing technologies and customer acceptance and timing of deployment of those technologies, and our ability to compete effectively with other software and technology companies. These and other factors discussed in our filings with the Securities and Exchange Commission, including our filings on Forms 10-K and 10-Q, could cause actual results to differ materially from those expressed or implied in any forward-looking statements. The forward-looking statements contained in this release are made on the basis of the views and assumptions of management, and we do not undertake any obligation to update these statements to reflect events or circumstances occurring after the date of this release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240222545432/en/
PR INQUIRIES:
Smith Micro Software
Paula Yurkovich
+1 (412) 260-1259
pr2@smithmicro.com
IR INQUIRES:
Smith Micro Software
Charles Messman
+1 (949) 362-5800
IR@smithmicro.com
Source: Smith Micro Software, Inc.
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