New line of consumer-centric phones, awarded by two tier-one carriers in North America, addresses market demand for durable, affordable devices
San Diego, California--(Newsfile Corp. - August 10, 2023) - Sonim Technologies Inc. (NASDAQ: SONM), today announced an addition to its portfolio of mobile phones. The new series of 5G smartphones and feature phones will meet the needs of value-conscious consumers, offering durability and performance for everyday use.
Sonim's latest consumer phones, designed for both mid and value-tier segments, are suitable for everything from construction sites to boardrooms and showcase a harmonious blend of durability and elegance. Leveraging Sonim's expertise, they deliver exceptional toughness, long battery life, and high-performance, all without compromising on style or affordability. This strategic move addresses the clear demand in the value-conscious consumer market segment for reliable and high-quality devices at an affordable price point.
A recent survey indicates that 36% of consumers rank durability as their top concern when purchasing a phone. This trend is underlined by the annual expenditure on phone cases in the US alone, which exceeds $2B, not including screen protectors and additional insurance costs. The expanded rugged phone market also mirrors this trend and is projected to reach US$ 4.5 billion by 20281.
"Our mission is simple: Sonim is putting reliable and value-conscious communication tools in the hands of everyone," says Peter Liu, CEO of Sonim. "These market dynamics present a significant opportunity for Sonim to disrupt the sector with this addition to our lineup of phones combining durability, performance, and a sleek design at a price point that doesn't break the bank. This strategic expansion not only allows us to tap into the broader consumer market segment but also promises to maintain, and potentially enhance, our healthy margin profile."
The latest addition of consumer-durable phones to Sonim's product portfolio, which includes the Snapdragon® 4 Gen 2 Mobile Platform, aligns seamlessly with the company's three-horizon growth strategy - introducing innovative products, attracting new customers, and expanding into new markets. The new series, which has been selected by two tier-one carriers in North America, will complement Sonim's existing line of successful ultra-rugged mobile phones for first responders and businesses, as well as the recently announced portfolio of wireless data devices. This strategic recognition from these prominent carriers further solidifies Sonim's position as a trusted provider of reliable communication solutions for a broader audience. Availability in 2024.
For more information about Sonim's new line of phones, visit firstname.lastname@example.org.
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1 Sources: Dsouza, Rishad. "UK: A fifth of consumers want to use their smartphones for over half a decade." YouGov, March 29, 2023.; Grand View Research. "Mobile Phone Protective Cover Market Size, Share & Trends Analysis Report By Product, 2030." 2022.; The Insight Partners. "Rugged Phones Market Forecast to 2028." February 2023.
Qualcomm and Snapdragon are trademarks or registered trademarks of Qualcomm Incorporated. Snapdragon is a product of Qualcomm Technologies, Inc. and/or its subsidiaries.
About Sonim Technologies, Inc.
Sonim Technologies is a leading U.S. provider of ultra-rugged, rugged and consumer durable mobile devices designed to provide extra protection for users that demand more durability in their work and everyday lives. 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 ruggedized 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 while providing an extra level of protection. For more information, visit www.sonimtech.com.
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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 declaring and reaffirming of Sonim's business strategy and objectives, Sonim's future financial performance and results of operations, the timing of the availability of the new products, the successful expansion of Sonim's market presence, Sonim's ability to grow and to capitalize the market opportunity, and the effect of new team members' expertise on Sonim's business and results of operations. 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 lack of prior experience in the sector of data devices; Sonim may experience material delays in realizing its projected timelines; Sonim's ability to continue as a going concern and improve its liquidity and financial position; 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 global macroeconomic events, inflation, and the COVID-19 pandemic, as well as the other risk factors described under "Risk Factors" included in Sonim's most recent Annual Report on Form 10-K and any subsequent quarterly filings on Form 10-Q filed 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.
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