6th May 2010 07:00
5 May 2010 iPoint-media plc ("iPoint-media" or "the Company") New opportunities in China and trading update Pursuing new strategy in the Chinese media market
iPoint-media plc (AIM:IPNT), a leading provider of live, interactive video calling application platforms for web and 3G mobile announces that, following the first sale of a license of the Company's product "GOliveStudio" to a Chinese national MobileTV operator, the Company is to strengthen marketing focus on the Chinese media for its new products "GoliveSTUDIO" and "GOliveinterview".
GOliveStudio is a WEB/Mobile TV production tool that provides new media connectivity and Internet content repurposing at a fraction of the cost of hardware-based solutions. In addition, the Company's "GOliveInterview" product enables broadcasters to conduct a live interview with a reporter equipped with a standard computer laptop, camera, and iPoint-media reporter software. The target market for GOliveInterview will be Chinese media companies, and the target market for GOliveStudio will be Chinese Radio/Web/Mobile TV stations. The Company estimates that there are over one thousand TV broadcasters in China, representing a very substantial market opportunity for iPoint-media.
Trading update
iPoint-media plc today issues the following update on trading for the first four months of 2010. During this period the Company experienced slippage relating to several tenders submitted in conjunction with its strategic partner, Ericsson, to telecoms companies that were anticipated to be signed and delivered prior to 30 June 2010. The Company's management believe that these tenders may be delayed into the second half of 2010 as a result of a continuing slowdown in the Telecoms market. As a consequence, the Directors expect that the Company's revenues for the six months ending 30 June 2010 will be below market expectations and the Company's move into profitability may be delayed.
Muki Geller, iPoint-media's CEO, commented:
"The Chinese media market offers a significant opportunity for iPoint and our new strategy will enable the Company to redirect its marketing to the media sector, while still maintaining a focus on the Telecom market."
Further enquiries:iPoint-media plc +(0) 972 544 450 667Muki Geller Libertas Capital Corporate Finance Limited +44 (0) 207 569 9650
Andrew McLennan/Thilo Hoffmann
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