Sonim Announces Purchase Orders from Top US Carrier for Next-Generation Rugged Phones
Orders for Next Generation XP5 Plus and XP10 Smartphone in Summer and Fall 2022
AUSTIN, Texas, May 5, 2022 /PRNewswire/ -- Sonim Technologies (Nasdaq: SONM) today announced purchase orders totalling $9.5 million from a top U.S. carrier customer. The purchase orders cover initial stocking inventory for two of the company's next-generation ultra-rugged phones to be introduced in 2022 – the XP5 Plus feature phone with enhanced PTT capabilities and Sonim's next-generation XP10 5G rugged smartphone.
"We are excited to secure these initial orders from a long-time carrier partner for our new rugged XP5 Plus and XP10 smartphone devices, planned for introduction later this year," said Peter Liu, Chief Executive Officer at Sonim. "These early awards demonstrate the carrier excitement for our next generation phones featuring Sonim's rugged engineering technologies. We believe these awards are also early indicators of the market demand we seek to tap under our new business strategy, offering a wider range of 5G smartphones, feature phones, mobile hot spots and other industrial communications equipment that incorporate our rugged heritage."
The XP5 Plus is expected to be available this summer, and Sonim's new XP10 rugged 5G smartphone device are expected to begin shipments in the fall. The carrier awards were made based on the design specifications, feature set and costs provided by Sonim as part of an RFP process.
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
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.
Participants in the Solicitation of Proxies
This communication is not a solicitation of a proxy from any investor or securityholder. Sonim, and its directors, executive officers and other members of their management and employees may, under SEC rules, be deemed to be participants in the solicitation of proxies of Sonim's stockholders in connection with the transaction. Investors and securityholders may obtain more detailed information regarding the names, affiliations and interests of Sonim's directors and executive officers in Sonim's Annual Report on Form 10-K filed with the SEC on March 21, 2022, as amended, and other reports filed with the SEC. Additional information regarding the participants will also be included in the proxy statement, when it becomes available. When available, these documents can be obtained free of charge from the sources indicated above.
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 availbility 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 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 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.
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SOURCE Sonim Technologies, Inc.
Released May 5, 2022