Sonim Receives Additional $6.4 Million in Initial Stocking Orders from US and Canadian Carriers
Sonim Technologies (NASDAQ: SONM) announced an additional $6.4 million in orders for its XP5plus feature phone and XP10 5G rugged smartphone, building on prior orders of $9.5 million. These orders come from a major U.S. carrier and two Canadian carriers. CEO Peter Liu expressed optimism about market demand for Sonim's rugged devices. The XP5plus is set for summer availability, while the XP10 will ship this fall. Key features include 5G support, ultra-bright displays, and enhanced communication capabilities designed for demanding environments.
- Secured additional orders totaling $6.4 million for XP5plus and XP10 devices.
- Building on existing $9.5 million orders, indicating strong demand.
- Devices feature advanced capabilities tailored for rugged environments.
- None.
Orders Add to Prior XP5plus and XP10 Smartphone Stocking Orders for Summer and Fall 2022
AUSTIN, Texas, June 14, 2022 /PRNewswire/ -- Sonim Technologies (NASDAQ: SONM) today announced multiple additional purchase orders totaling
"We are excited to secure additional orders from a long-time carrier partner in the U.S. and from two Canadian partners, expanding on our previously announced initial stocking orders for the new rugged XP5plus and XP10 smartphone devices," said Peter Liu, Chief Executive Officer at Sonim. "These additional awards speak to the expected market enthusiasm for our next generation rugged devices, purpose built with Sonim's rugged engineering technologies to work in field applications where traditional consumer devices simply do not get the job done."
"We are moving ahead rapidly on our new business strategy to offer a wider range of rugged 5G smartphones, feature phones, hot spots and industrial communications equipment focused on these unique but underserved market needs," said Liu. "We are already in discussion around additional carrier awards for both existing and new devices as we continue to focus on carrier partner needs not well served by currently available hardware solutions."
The XP5plus is expected to be available later this summer; shipments of the new XP10 rugged 5G smartphone device are expected to begin in the fall of 2022.
Sonim is a leader in rugged mobile phones for task workers in industries such as public safety, construction, manufacturing, field service, transportation, hospitality and more. Key features of the new devices include:
- Support for 5G networks, FirstNet public safety broadband network, and CBRS-based private networks.
- Ultra-bright sunlight readable displays and glove touch enabled screens designed for use in outdoor conditions.
- OneTouch PTT – a dedicated PTT button provides instant communications with no need to wake up the device or launch the app like consumer smartphones
- Ultra-loud speakers and noise suppression – ensure you can stay in communication in the harshest conditions
- Red (Emergency) Button – instantly alert dispatch and/or emergency services which can be customized with the free Sonim SOS application and available through the FirstNet App Catalog
- Ultra-rugged accessories – a broad range of industrial accessories, including remote speaker microphones, wireless mics, in-vehicle mounts to address the common needs of first responders
About Sonim
Sonim Technologies is a leading U.S. provider of ultra-rugged mobile phones and accessories designed specifically for task workers physically engaged in their work environments, often in mission-critical roles. We currently sell our ruggedized mobility solutions to several of the largest wireless carriers in the United States— including AT&T, T-Mobile, and Verizon—as well as the three largest wireless carriers in Canada—Bell, Rogers, and Telus Mobility. Our phones and accessories connect workers with voice, data, and workflow applications in two end markets: industrial enterprise and public sector. Our ruggedized phones and accessories are sold through distributors in North America, South America, and Europe. For more information, visit www.sonimtech.com.
Important Cautions Regarding Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements relate to, among other things, the expected timing of the availability of Sonim's XP5 Plus and XP10 5G smartphones and the expected market demand for these products. These forward-looking statements are based on Sonim's current expectations, estimates and projections about its business and industry, management's beliefs and certain assumptions made by Sonim, all of which are subject to change. Forward-looking statements generally can be identified by the use of forward-looking terminology such as, "future", "believe," "expect," "may," "will," "intend," "estimate," "continue," or similar expressions or the negative of those terms or expressions. Such statements involve risks and uncertainties, which could cause actual results to vary materially from those expressed in or indicated by the forward-looking statements. Factors that may cause actual results to differ materially include, but are not limited to, the following: Sonim's ability to continue as a going concern and improve its liquidity and financial position; the risk that the proposed equity investment in Sonim as disclosed in April 2022 may be consummated on a timely basis, if at all; Sonim's exploration of strategic or financial alternatives may not result in any transaction or alternative that enhances value; risks related to Sonim's ability to comply with the continued listing standards of the Nasdaq Stock Market and the potential delisting of Sonim's common stock; Sonim's ability to continue to develop solutions to address user needs effectively, including its next generation products; anticipated sales levels of both new and legacy products; Sonim's reliance on its channel partners to generate a substantial majority of its revenues; the limited operating history in Sonim's markets; Sonim's ongoing restructuring and transformation of its business; the variation of Sonim's quarterly results; the lengthy customization and certification processes for Sonim's wireless carries customers; the impact of the COVID-19 pandemic; and the ongoing Securities and Exchange Commission investigation on Sonim's business, as well as the other risk factors described under "Risk Factors" included in Sonim's Annual Report on Form 10-K for the year ended December 31, 2021 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, and any risk factors contained in subsequent quarterly and annual reports it files with the Securities and Exchange Commission (available at www.sec.gov). Sonim cautions you not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Sonim assumes no obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release, except as required by law.
FirstNet and the FirstNet logo are registered trademarks of the First Responder Network Authority. All other marks are the property of their respective owners.
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SOURCE Sonim Technologies, Inc.
FAQ
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