Product Launch
May 14 2009 - 2:00AM
UK Regulatory
TIDMAWR
RNS Number : 2175S
Adwalker plc
14 May 2009
14 May 2009
Adwalker Plc
("Adwalker" or "the Company")
Generation 3 Release
Further to the announcement made by Adwalker, a leader in wearable
technology, on 1 May 2009 which referred to the development and launch of
Generation 3 of the Adwalker Wearable Platform, the Company is pleased to
announce that a prototype of its patented Generation 3 digital wearable unit
("Generation 3") has been unveiled today. To view the prototype Generation 3
Unit, shareholders and other interested parties are directed to the Company's
website: www.Adwalker.com.
At its launch, which is anticipated to be in late 2009/early 2010, Generation 3
will incorporate improved functionality and additional features which will be
encompassed within a modern unit design.
In order to maximise the impact of the launch of Generation 3, the Company has
developed a new business model and marketing strategy. The Generation 3 units
will be offered to existing and new customers on a pre-order basis. The unit
will be provided to customers free of charge but in order to be able to use it
the customers will be charged an activation fee (expected to be levied weekly)
and will then be required to download applications and services for the unit
from the online Adwalker Application Store, which is to be developed.
The Company anticipates that production of the Generation 3 units will only
commence once a certain level of pre-orders have been received and those
customers have contracted to a minimum activation period. This minimum level of
pre-orders will determine the level of investment required to produce the new
units, in turn the Company would then need to raise these funds from external
sources.
In the pre-order phase, the Company will be targeting specific business sectors
beyond the marketing services groups which comprise the majority of its existing
customers. The Company's initial research suggests that in the current economic
environment and with the increasing maturity of the Adwalker product that
companies will want to use Generation 3 as a sales and research tool.
Commenting on today's update Chief Executive Simon Crisp said;
"The management of Adwalker have continuously maintained over the past few years
that the digital wearable sector has significant potential. Generation 3 is an
exciting development for the Company particularly given its design, enhanced
features and functionality. Adwalker has an established profile in the wearable
media sector, is a brand leader globally and owns its IP which is of
particular importance given the activity within the industry.
New ideas often demand new technology and where necessary complete re-invention.
Generation 3 and the revised business model is such a re-invention and we hope
this will build on the foundations which the Company has laid through its
significant R&D expenditure in the current Adwalker unit.
The key challenge for the Company will be to secure the necessary pre-orders and
external finance to allow Generation 3 to be launched commercially".
Further announcements will be made in due course.
Enquiries:
+----------------------------------------+----------------------------------------+
| Adwalker plc | Tel: +353 (1) 866 9000 |
| Simon Crisp | |
| simon@adwalker.com | |
| | |
+----------------------------------------+----------------------------------------+
| John East & Partners Limited | Tel: 020 7628 2200 |
| Simon Clements/David Worlidge | |
| | |
+----------------------------------------+----------------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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