Shares of Sonim Technologies Inc. (NASDAQ: SONM) were up 27.72% to $0.5275 at last check on the news of a sizable order.
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Which order has SONM won?
Yesterday, Sonim Technologies (SONM) reported the receipt of a new client order worth $17 million for tablet products that Sonim Technologies designed and built under an ODM arrangement. In order to increase revenue sequentially over the third quarter of 2022, SONM anticipates shipping the newest purchase order beginning in the fourth quarter and continuing into 2023.
In addition to the most recent tablet purchase, $13.9 million in tablet deliveries were made in the third quarter. The new device revenue streams show how SONM wants to use its technical expertise, a solid history, and ODM skills to break into the more significant consumer durable and industrial equipment markets.
The XP10 5G Android smartphone from Sonim Technologies has also been made available, bringing the company’s array of rugged mobile devices sold by North American Tier One carrier partners fully up to date.
In addition to addressing sizable, untapped areas that are adjacent to its core tough capabilities, SONM proceeded to carry out the plan of the new management team to supply purpose-built mobile devices to its carrier partners.
The tablet was manufactured by an ODM and has an 8-inch screen, 4G LTE connection, and a Qualcomm Snapdragon CPU. The tablet is designed to run both consumer and business apps, such as those for services and education. Sonim does not anticipate inventory risk from the new tablet project because the tablets are made in accordance with client purchase orders.
How would this support SONM’s expansion?
The core rugged mobile device family of Sonim Technologies (SONM) is completely updated and accessible for North American carrier partners with the company’s recently announced introduction of its XP10 rugged 5G smartphone. As it progresses progressively toward its objective of profitable operations, this puts SONM in a strong position to significantly increase revenue across an intriguing opportunity set of heritage rugged and new core industrial and consumer durable applications.
