[ad_1]
New orders and new robust handsets are expected to drive consistent growth in the fourth quarter
San Diego, Calif. –(Newsfile Corp. – Nov. 30, 2022) – Sonim Technologies (NASDAQ: SONM ) today announced an additional customer purchase order for $17 million in tablet products developed by Sonim and assembled through an ODM relationship. Sonim expects to ship its newest purchase order from the fourth quarter to 2023, with consistent revenue growth in the third quarter of 2022.
The latest tablet order follows $13.9 million in tablet orders in the third quarter. The new device revenue streams reflect Sonim’s strategy to expand into the broader consumer durables and industrial equipment markets by leveraging its engineering expertise, rugged heritage and ODM capabilities.
Additionally, Sonim announced the availability of its new XP10 5G Android smartphone, completing a refresh of its robust line of mobile devices sold by North American Tier One carrier partners.
“We continue to execute on our new management team’s strategy while delivering purpose-built mobile devices to our carrier partners while entering large and underserved markets adjacent to our core core capabilities,” said Sonim CEO Peter Liu. “Furthermore, with the recently announced launch of the XP10 rugged 5G smartphone, our core rugged mobile device family has been completely updated and is available to North American carrier partners. We believe Sonim will be able to further grow revenue through an exciting set of legacy capabilities. new core industrial and consumer durable applications, we are moving towards profitable operations.”
The ODM-built tablet sports an eight-inch display with 4G LTE connectivity, powered by a Qualcomm Snapdragon chipset. The tablet includes enterprise and consumer applications, including service and education applications. The new tablet project is not expected to represent any inventory risk for Sonim as the tablets are built to customer purchase orders.
###
About Sonim Technologies, Inc.
Sonim Technologies is a leading US provider of ultra-rugged, durable and consumer durable mobile devices designed to provide added protection for users who demand greater durability at work and in everyday life. We currently sell our enhanced mobility solutions to several major 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 rugged phones and accessories are also sold through distributors in North America and Europe. Sonim devices and accessories connect users with voice, data, workflow and lifestyle applications that enhance the user experience and provide an additional level of protection. For more information, visit www.sonimtech.com.
Important notices regarding future announcements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to, among other things, projected revenue growth and Sonim’s strategic expansion plans. These forward-looking statements are based on Sonim’s current expectations, forecasts and assumptions 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 include the words “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 that could cause actual results to differ materially from those expressed in forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to: Sonim’s ability to continue as a going concern and improve its liquidity and financial condition; Sonim’s exploration of strategic or financial alternatives may not result in a price-enhancing transaction or alternative; risks related to Sonim’s ability to comply with the ongoing 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 effectively address user needs, including its next-generation products; projected sales levels of new and legacy products; Sonim’s reliance on channel partners to generate the bulk of its revenue; Limited operating history in Sonim markets; Sonim’s ongoing restructuring and business transformation; Changes in Sonim’s quarterly results; Long customization and certification processes for Sonim’s wireless fulfill customers; Impact of the COVID-19 pandemic; and the ongoing investigation of Sonim’s business by the Securities and Exchange Commission, as well as other risk factors described under “Risk Factors” contained in Sonim’s most recent Annual Report on Form 10-K and subsequent quarterly filings on Form 10-Q. Securities and Exchange Commission (available at www.sec.gov). Sonim cautions you not to place undue reliance on forward-looking statements made as of this date. Sonim undertakes no obligation to update any forward-looking statement to reflect events or circumstances that may arise after the date of this release, except as required by law.
Sonim Technologies Communications
Sonim Technologies, Inc.
[email protected]
Matt Kreps, Managing Director
Darrow Associates Investor Relations
[email protected]
(214) 597-8200
To view the source version of this press release, visit https://www.newsfilecorp.com/release/146238.
[ad_2]
Source link