Beam Receives Additional $2.5M Order for Iridium GO!® Devices
Beam Communications Holdings Ltd (ASX: BCC) is pleased to announce that it has received further orders, worth over US$1.6 million (circa $2.5 million), for the manufacturing of Iridium GO!® devices from leading satellite services company, Iridium Communications Inc. (NASDAQ: IRDM).
The new order for the pocket-size portable satellite hotspot is expected to be delivered across FY24 and FY25. Demand for the Iridium GO!, which was launched in 2014, remains strong, even following the recent introduction of the next-generation Iridium GO! exec® with faster data speeds, in February this year.
“We believe that the original Iridium GO! product will remain a popular choice for years to come, even as the Iridium GO! exec gains strong market traction. This is because both devices appeal to different groups of customers who will factor in size, functionality and affordability in their purchase decision,” said Beam’s Managing Director, Michael Capocchi.
“The Iridium GO! has been one of Beam’s most successful development projects to date and we are confident that this device, along with the new Iridium GO! exec, will continue to be key growth drivers for the Group.”
This announcement was approved by the Board of Directors.
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About Beam Communications Holdings Limited
Beam Communications Holdings Limited is an Australian publicly-listed company (ASX:BCC) that specialises in the design, development, manufacture and distribution of satellite, cellular and dual-mode equipment applications and services. Beam has developed several world-first innovations and its products and services are adopted by some of the world’s largest satellite and telecommunications companies, such as Iridium, Telstra, KDDI, Inmarsat and Thuraya. Beam also developed the multi-award winning ZOLEO device, which generates recurring subscription revenues for the Group. Beam Communications Holdings Limited owns 100% of Beam Communications Pty Ltd and SatPhone Shop Pty Ltd www.satphoneshop.com. For more information, visit www.beamcommunications.com.