Wi2Wi Corporation ("Wi2Wi" or the "Company") (TSX-V: YTY), is
pleased to announce that it is experiencing significant demand
build-up in its Industrial-Class GPS business. Market and customer
traction continues to accelerate for Wi2Wi's third generation GPS
products, W2SG0008i and W2SG0084i, with over 22 design-wins and 16
design-ins. This is a tenfold increase for design wins/ins and
14-fold increase for qualified leads and prospects since September
2012.
"Wi2Wi's industrial-class third generation GPS products have
state-of-the art performance in a miniaturized footprint ideal for
industrial, medical, government and infrastructure
machine-to-machine (M2M) and portable device applications. The
demand for our new GPS products is strong, particularly in North
America, and we expect significant growth in our GPS business to
continue," Chief Executive Officer Dr. Reza Ahy noted. He added,
"Our relentless efforts in 2012 to re-build the Americas sales
team, Americas sales representative network, and re-energize our
distribution partners, Avnet and Mouser, are paying off. Together
with Wi2Wi's third generation GPS products entering production in
2012, these efforts have resulted in the rapidly growing list of
our GPS customers and prospects, particularly in North America. The
demand for our new GPS products is strong and we expect significant
growth in our GPS business to continue."
"Wi2Wi completed a major transition in 2012. However, the
recently completed RTO on January 28th, 2013 has allowed the
Company to build on the momentum of the marketing and sales
programs, It is gratifying to see the excellent infrastructure and
momentum Wi2Wi has been measurably building up during the
challenging period of 2012 and now post-RTO in 2013, resulting in
the significant traction for Wi2Wi’s new GPS products," stated
Chairman Dr. Hans Black.
Wi2Wi's average design and sales cycle is approximately 18
months with full production expected between late 2013 into 2014
and beyond. The Company anticipates the 22 design-wins and 16
design-ins will approximate up to 250,000 units of GPS shipments
annually, and up to $3 million in annual sales, once fully ramped
up.
ABI research's market analysis forecast that GPS IC shipments
will reach two billion by 2016, as new high-volume verticals
emerge. Wi2Wi expects that a certain percentage of these, in
particular for the non-consumer markets, will be in the form of
modules and system-in-a-package (SiPs). Wi2Wi is well-positioned
and focused on major vertical markets of Industrial, Medical,
Government and Infrastructure. Wi2Wi's current GPS customers
include Fortune-500 and industry leaders in the infrastructure for
oil and gas fields, networked street lighting infrastructure,
femto-cell and mobile infrastructure, WiFi infrastructure,
land-mobile radios for first Responders, asset tracking, fleet
management, marine, and military communications.
Wi2Wi has over 260 customers and prospects for its third
generation products, including GPS, WiFi, and WiFi-Bluetooth.
For further information, please contact:
Dr. Reza Ahy
Chief Executive Officer
(408) - 416-4200
reza@wi2Wi.com
About Wi2Wi Inc.
Wi2Wi is a leader in Wireless System-in-Package (SIP) Solutions
for Machine-to-Machine (M2M) and portable device embedded
applications worldwide, including WiFi, Bluetooth, and GPS. Wi2Wi
focuses on Industrial, Medical, Government, & Infrastructure
markets worldwide. Headquartered in San Jose, California, Wi2Wi
provides leading-edge wireless solutions for embedded applications
with substantial savings on time-to-market, cost, and
system-integration. Wi2Wi solutions also leverage its
patent-pending wireless integration technology along with tier-1
global partnerships with industry leading silicon and supply chain
companies, serving a large number of Fortune-500 customers.
Forward-Looking Statements: This news release contains certain
forward-looking statements, including management's assessment of
future plans and operations, and the timing thereof, that involve
substantial known and unknown risks and uncertainties, certain of
which are beyond the Company's control. Such risks and
uncertainties include, without limitation, risks associated with
the ability to access sufficient capital from internal and external
sources, the impact of general economic conditions in Canada, the
United States and overseas, industry conditions, reliance on
industry partners, reliance on third party distributors and sales
representatives, protection of intellectual property and
proprietary rights, reliance on information technology systems,
length of sales cycle, potential defects in products, changes in
laws, increased competition, lack of availability of qualified
personnel or management, fluctuations in foreign exchange or
interest rate and stock market volatility. The Company's actual
results, performance or achievements could differ materially from
those expressed in, or implied by, these forward-looking statements
and, accordingly, no assurances can be given that any of the events
anticipated by the forward-looking statements will transpire or
occur, or if any of them do so, what benefits the Company will
derive there from. Readers are cautioned that the foregoing list of
factors is not exhaustive. Additional information on these and
other factors that could affect the Company's operations and
financial results are included in reports on file with Canadian
securities regulatory authorities and may be accessed through the
SEDAR website (www.sedar.com).
This news release contains "forward-looking statements" within
the meaning of applicable securities laws relating to, among other
things, certain anticipated financial results, and anticipated
market growth and potential corporate developments of the
Company... Readers are cautioned not to place undue reliance on
forward-looking statements. Actual results and developments may
differ materially from those contemplated by these statements.
Factors that could cause actual results to differ materially
include, but are not limited to, changes in Wi2Wi's business,
general business, economic and competitive uncertainties.
Forward-looking statements are made based on management's
beliefs, estimates and opinions on the date the statements are made
and the Company undertakes no obligation to update forward-looking
statements and if these beliefs, estimates and opinions or other
circumstances should change, except as required by applicable law.
All subsequent forward-looking statements, whether written or oral,
attributable to the Company or persons acting on its behalf are
expressly qualified in their entirety by these cautionary
statements. Furthermore, the forward-looking statements contained
in this news release are made as at the date of this news release
and the Company does not undertake any obligation to update
publicly or to revise any of the included forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required by applicable securities
laws.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
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