- The agreement with Cristal Video Wireless provides Mobilicom with significant sales reach in China and R&D co-operation to deliver innovative new products for mobile mission critical communications & unmanned platforms with short time to market
- First purchase order & delivery of Mobilicom products completed
- With China the first economy appearing to recover from COVID-19, Mobilicom has acted quickly to take advantage of this key market.
12 October 2020 – Mobilicom Limited (Mobilicom or the Company, ASX: MOB) is pleased to announce it has signed a sales and cooperation agreement with Shenzhen-based Cristal Video Wireless (CVW) as the Company targets expansion into China.
CVW is a leading global provider of wireless video transmission and products, committed to bringing leading-edge, reliable wireless video transmission solutions to a variety of industries.
Under the agreement Mobilicom and CVW will cooperate to drive sales of Mobilicom’s suite of products and solutions in the Chinese market. The two companies will also integrate its complementary technology solutions to address market and customer needs.
The first shipment of Mobilicom products, flagged for customer trials, has been completed. Whilst the revenue associated is not material at this stage, Mobilicom will significantly grow its activity with CVW from this initial order.
Future research and development initiatives will focus on the ability to deliver innovative new products for the mobile communications market, spanning mission critical networks and unmanned platforms including air, ground and sea solutions, and achieving a short time to the market for such innovations.
Mobilicom and CVW will also work towards the optimization of the production process to ensure high performance and cost-effectiveness of the products.
Mobilicom CEO Oren Elkayam said the Company had identified China as a key target market as one of the first economies to reopen following COVID-19.
”With China having addressed COVID-19 earlier compared to other geographies, it created an opportunity for Mobilicom to expand its business operations in the region. CVW has excellent history and experience in the local market and technology complementary to Mobilicom and can help position Mobilicom to penetrate this region.”