Sonim Gears for Dynamic Growth in 2024: New Customer Agreement Propels Launch of Premium-tier Mobile Hotspot
Tier-one carrier in North America selects Sonim's premium tier mobile hotspot, targeting consumers and business customers for its 2024 lineup
San Diego, California--(Newsfile Corp. - September 13, 2023) - Sonim Technologies, Inc. (NASDAQ: SONM), today announced that in a significant stride towards solidifying its industry leadership, a leading North American carrier has committed to launching Sonim's new premium 5G mobile hotspot for customers in 2024. This early indication of market acceptance from the carrier for the new Sonim Connect wireless internet device portfolio aligns with the company's plans to diversify and expand its product line across major North American carriers.
"We're proud to announce the early market acceptance of our new premium 5G mobile hotspot, a key addition to our expanding portfolio strategy," states Chuck Becher, CCO of Sonim Technologies. "The commitment from a tier-one North American carrier to launch our device for all of its customer channels in 2024 is a testament to our relentless drive for innovation and customer-centric focus. This development underscores our commitment to expanding our market presence by redefining connectivity standards."
With the mobile broadband modem market in the U.S. and Canada estimated to grow steadily at a CAGR of nearly 9% over the next decade,1 Sonim is poised to make a significant impact in this growing sector.
The new premium mobile hotspot combines 5G global bands with advanced performance design features such as SRS antenna switching and a powerful rechargeable battery. It also integrates the latest Wi-Fi® 7 technology and Snapdragon® X75 5G Modem-RF System, the world's first 5G Advanced-ready Modem-RF System, as well as robust security features, and Sonim's signature durability and reliability, backed by the Company's 12-point rugged performance standards (RPS) in addition to IP military and industrial-grade ratings, ensuring it can withstand any challenges life presents.
"We're delighted that Sonim leverages our latest connectivity technologies, including the smartest cellular modem we have ever created, Snapdragon X75," said Sunil Patil, vice president product management, Qualcomm Technologies, Inc. "We designed our latest Modem-RF System with the goal to enable OEMs to create more efficient and future-ready 5G devices like Sonim's 5G mobile hotspots."
1Future Market Insights (2023, May 8). The United States mobile broadband modem market is projected to be worth US$ 7.6 billion by 2032, with an anticipated CAGR of 8.7% from 2022 to 2032. Retrieved from: https://www.futuremarketinsights.com/reports/mobile-broadband-modem-market
About Sonim Technologies, Inc.
Sonim Technologies is a leading U.S. provider of ultra-rugged, rugged and consumer durable mobile devices, including phones, wireless internet data devices, tablets and accessories 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.
Qualcomm and Snapdragon are trademarks or registered trademarks of Qualcomm Incorporated. Snapdragon is a product of Qualcomm Technologies, Inc. and/or its subsidiaries.
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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 successful expansion of Sonim's market presence, Sonim's ability to grow and to capitalize the market opportunity, and the effect of the described events on Sonim's results of operation. 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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SOURCE Sonim Technologies, Inc.
Released September 13, 2023