31st Jan 2014 13:54
LONDON (Alliance News) - Shares in PeerTV PLC surged almost 50% Friday afternoon, after the video-on-demand services provider said it has launched the Kartina IQ set top box into the German market.
The new Kartina IQ set top box, which is based on PeerTV's eTV system, was jointly developed by PeerTV and Kartina, a specialist Russian pay-per-view TV operator.
Based on the sales estimates of the company's partner, Kartina, revenues from this product could lead to a material uplift in its revenues for this year, with sales potentially as high as 30,000 to 50,000 units, PeerTV said.
PeerTV said it is now working on a second generation set top box, which will include additional multimedia, messaging and a new range of app-based functionality.
Shares in the company were trading 49.3% higher at 1.68 pence per share Friday afternoon.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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