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Tech Stock News: Sonim (NASDAQ: SONM) Enters Next Chapter of Accelerated Growth and Expansion with New Category of Data Devices

Company strengthens expansion strategy with addition of new hires for connected solutions category, marketing, and EU and APAC market development

 

San Diego, California - August 7, 2023 (Investorideas.com Newswire) Sonim Technologies, Inc. (NASDAQ: SONM) today announced the expansion of its product portfolio to introduce a new category of 4G/5G wireless and Wi-Fi data devices. Sonim will offer a range of mobile hotspots, USB modems, and fixed wireless access (FWA) solutions under the category name Sonim Connect. The first of these products will be available later this year, with additional devices available in 2024.

"Earlier this year, we shared that Sonim is stepping into a new phase of growth. By providing high-quality data products with advanced features at competitive price points, we expect to expand our market presence, drive increased revenue and maintain healthy margins. We're genuinely excited about the opportunities and efficiencies we're going to create with this new family of data devices. We are confident in our ability to market our new products to existing carrier and enterprise customers while also attracting customers in new markets," stated Peter Liu, CEO of Sonim.

Sonim Connect Solutions Portfolio

The Sonim Connect family of wireless connectivity Internet products will provide consumers and businesses with a reliable, secure, and cost-effective way to access the Internet. With features such as signal strength optimization and built-in security protections, customers can be sure they have a safe and secure connection regardless of location.

Mobile Hotspots: Sonim added two mobile hotspots to the connected portfolio, one premium and one value tier, each addressing the specific needs of target audiences. These competitively priced devices utilize the latest wireless technology to convert any location into a workspace, providing users on the go with a secure and reliable Internet connection. Designed with quality, durability, reliable performance, and extended battery life in mind, Sonim's mobile hotspots ensure sustained connectivity, regardless of the location.

Fixed Wireless Access (FWA) Gateways and Routers: Sonim's Fixed Wireless Access gateways and routers provide point-to-point links to ensure rapid 5G Internet speeds in both home and office environments. These FWA solutions are built with a focus on durability and reliability, offering stable, Quality-of-Service (QoS) high-performance connections capable of handling data-intensive tasks whether for primary connectivity or back up connections. They provide a cost-effective solution for those in need of dependable, high-speed Internet access both indoors and outdoors, particularly in areas where cable and fiber options are too expensive, unreliable, or not feasible.

USB Modems: These single-point modem devices deliver secure, high-speed Internet connectivity and are ideal for professionals on the move or IoT applications in remote locations, such as kiosks and vending machines.

The Connected Solutions Market and Opportunity (mobile broadband and fixed wireless)

The market for connected solutions, such as hotspots and fixed wireless, is growing rapidly. The Ericsson Mobility Report highlights a significant increase in global mobile network traffic. By the end of 2022, monthly traffic reached about 118 Exabytes (EB), projected to soar to 472 EB by 2028. This growth will be driven by the adoption of Extended Reality (XR) services, such as Augmented Reality (AR), Virtual Reality (VR), and Mixed Reality (MR). With the new Sonim Connect family of data devices, the company is well-positioned to capitalize on this trend by meeting the evolving market needs in this advancing digital landscape.

Additionally, in a significant market shift, a high-end pricing leader has pivoted to focus on enterprise solutions, scaling back consumer carrier sales, while value segment contenders face challenges around safety and security. This creates an opportunity for Sonim to capture market share in North America, EMEA, and Australia.

Sonim, a US-based company, is well-equipped to offer secure, cost-competitive alternatives to existing incumbents. The company's business model includes robust manufacturing and supply chain capabilities, delivering what carriers seek considering these market shifts. By leveraging this trend, Sonim is poised to become the go-to supplier of wireless data devices for carriers and their customers, spanning enterprise, government, SMBs, and consumers.

As Sonim prepares to establish itself as a preferred provider for wireless data devices, Mr. Liu further emphasized the importance of their latest team additions in realizing this objective. Liu noted, "We are also pleased to welcome new members to the team who bring a wealth of wireless industry and leadership experience in the areas of mobile broadband and fixed wireless access. Their expertise will fuel Sonim's growth and enhance our ability to deliver leading connected solutions while expanding our global reach. The collective efforts of our augmented team will steer us towards our vision of industry leadership, focusing on delivering unmatched value to our customers and shareholders."

The additions to the Sonim team include:

  • Chris Yeatts joined as Sonim's Senior Vice President of Connected Solutions, spearheading the company's expansion into connected data products such as mobile broadband and fixed wireless access. His previous leadership positions at Inseego, WSA Distributing, Kyocera Wireless, and Qualcomm have equipped him with a wealth of experience in leading global carrier deployments of mobile broadband and fixed wireless. This experience gives Sonim a strategic edge in establishing global carrier partnerships.
  • Simon Rayne recently assumed the role of Senior Vice President and General Manager for the UK, EMEA, and APAC. He brings a wealth of sales and market development experience specific to these regions. Before joining Sonim, Simon served as SVP and Managing Director for Inseego, where he successfully drove the market entry of connected 5G solutions with top-tier operators in those markets and established global distribution channels. Earlier, as Managing Director for Spectralink, Simon developed a global channel sales strategy that included strategic alliances and OEM partnerships with giants like Cisco and Microsoft. He secured distribution agreements with major players such as Dimension Data, BT Global, Orange Business Services, Deutsche Telekom, Vodafone, and Telefonica. Simon's leadership extends to managing Microsoft's UK Cloud, Office, and Skype divisions, spearheading sales at Sony Ericsson Mobile, and holding prominent roles at GlaxoSmithKline, Coca-Cola, and Bass Brewing Company. With this extensive experience, Simon is well-positioned to steer Sonim's growth in crucial global markets.
  • Ian Renwick serves as Sonim's Senior Director of Product Management, overseeing the mobile hotspot category. With nearly three decades of experience in the Telecom industry, Ian previously worked at Inseego and Novatel Wireless as Senior Director of Product Management, delivering mobile broadband, fixed wireless access, and IoT solutions to major EMEA carriers. His previous roles include Head of Global Product at Vix Technology, where he developed smart transport ticketing solutions for major cities and launched iconic devices like RAZR and StarTAC into the European market at Motorola.
  • John Ross joined Sonim as the Senior Director of Product Management, leading the fixed wireless category. His career spans various leading telecommunication companies, including US Robotics, Motorola, Novatel Wireless, CalAmp, and Inseego. An RF engineer at heart, John possesses a comprehensive understanding of the technical requirements needed to ensure exceptional performance of Sonim's portfolio of fixed wireless connected solutions. His transition from engineering to business has deepened his appreciation for delivering optimal user experiences while maintaining cost-effectiveness. This broad background makes John an ideal fit for Sonim's expansion into new categories within the connection solutions space.
  • Anette Gaven serves as Sonim's Vice President of Marketing, responsible for product marketing, brand and corporate communications, and investor relations. Her previous leadership roles in marketing at Inseego, Telit, and Novatel Wireless, combined with her consulting services for various wireless OEMs, ODMs, and carriers, have given her extensive experience in the global wireless mobile broadband and fixed wireless sectors, enterprise networking, and SaaS industries. This invaluable expertise significantly contributes to her role at Sonim.

For sales enquiries: contact sales@sonimtech.com.com.

To schedule an executive interview: contact pr@sonimtech.com.

###

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.

Media Contact
Anette Gaven
M: 619-993-3058
pr@sonimtech.com

Investor Relations Contact
Matt Kreps
M: 214-597-8200
mkreps@darrowir.com

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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