NEW YORK, April 29, 2024 /CNW/ - MiMedia Holdings Ltd. (TSXV: MIM) ("MiMedia", "Company") is pleased to announce the deployment of its mobile app to 100K+ Android smartphones in Puerto Rico with existing partner PCD via the Company's new deployment capability.
Highlighted last February as a significant technical achievement for the Company, this new deployment approach features the same depth or level of integration on existing smartphones already in consumer hands that the Company achieves when integrating onto new smartphones being newly built and coming to market. With this new capability, MiMedia dramatically widens its addressable smartphones for integration to all devices currently in market as well as those coming to market of an existing partner or any new partner in the pipeline.
While MiMedia had previously conducted successful smaller tests of this new deployment capability, this recent deployment represents our biggest to date and the first at greater than 100K smartphones in one run. The Company is currently planning and working on similar sized deployments of this new type in the coming months with several of our existing partners as well as potential new partners.
As noted, this new deployment approach adds to the integration approach that MiMedia executes on smartphones being built from scratch. Current partners, such as Orbic, are now ramping up shipments in Q2 of newly built smartphones and tablets with MiMedia integrated in advance of the cyclically stronger second half of the year for the smartphone market.
"We look forward to the engagement of MiMedia on these smartphones in the coming weeks and to deploying our revenue engines against these smartphones. This integration and deployment occurred without a hitch and will greatly increase our speed to market with existing and new partners. We look forward to future deployments of this size and greater in the coming months and the associated engagement and revenue that will come soon thereafter. As noted earlier this year, we are excited for a breakout year in 2024 based on the projected and contracted volume of our existing partners, the greater speed to market afforded by this new integration capability and our rapidly expanding pipeline which we expect will deliver newly signed partners in the coming months," said Chris Giordano, MiMedia CEO.
About MiMedia: MiMedia Holdings Inc provides a next-generation consumer cloud platform that enables all types of personal media to be secured in the cloud, accessed seamlessly at any time, across all devices and on all operating systems. The company's platform differentiates with its rich media experience, robust organization tools, private sharing capabilities and features that drive content re-engagement. MiMedia partners with smartphone makers and telecom carriers globally and provides its partners with recurring revenue streams, improved customer retention and market differentiation. The platform services millions of engaged users around the world.
Notice regarding forward-looking statements: This release includes forward-looking statements regarding MiMedia, and their respective businesses, which may include, but is not limited to, statements with respect to the completion of a Transaction, appointment or any other decision made by the business. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of the management of MiMedia. The for-ward-looking events and circumstances discussed in this release, may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding the MiMedia industry, failure to obtain regulatory or shareholder approvals, economic factors, the equity markets generally and risks associated with growth and competition. Although MiMedia have attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events, or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and MiMedia undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
SOURCE MiMedia
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