13th Nov 2015 08:23
LONDON (Alliance News) - CloudTag Inc said Friday that it has taken delivery of the first batch of production units for its proprietary wearable device, which it plans to launch at the Consumer Electronics Show in January of next year.
The company said the delivery of the first production units has allowed it to more closely manage the unit costs for the manufacture of each device, which it expects to help facilitate on-going commercial discussions.
"I am pleased with the quality of the production devices and the overwhelmingly positive reactions from our user tests. As we look to commercialise the device, it is imperative that we maintain tight control over our bill of materials for the manufacture of each unit in a competitive and price sensitive market," said Chief Executive Officer Amit Ben-Haim in a statement.
Shares in CloudTag were down 5.3% at 2.25 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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