- SPYR, through its wholly-owned subsidiary, Applied Magix, will start exploring AI applications for inclusion in its products
- The company is also considering venturing into the MVNO business; an industry projected to be valued at $91.63 billion by 2026
- This is in a move to grow the company’s product and service offering while also creating value for its shareholders
- Pursuing this route will also present SPYR with an opportunity to promote its brand further, grow its brand equity and overall brand recognition
SPYR (OTCQB: SPYR) has, since its inception, not shied away from pushing the envelope in terms of innovation and creating value for its stakeholders. This commitment has defined its operations in the development and reselling of Apple®-ecosystem-compatible products, along with its focus on the multibillion-dollar Internet of Things (“IoT”) Smart Home and Connected Car markets.
More importantly, this has shaped its dedication to identifying and targeting acquisitions that aid in growing its overall market reach and industry footprint, as evidenced by its 2020 acquisition of Applied Magix Inc. In line with this, SPYR is exploring new ways to improve its products, stay ahead of its competition and increase customer satisfaction. One avenue that it seeks to venture into is Artificial Intelligence (“AI”) and its inclusion in Applied Magix’s current line of products (https://nnw.fm/qexN9).
SPYR just announced that Applied Magix is exploring AI applications for inclusion in its products, mainly due to its tremendous promise and potential benefits to the end customer.
“As part of our Secret Lab initiatives, AI frequently comes to the forefront of product development and how to make smart hardware even smarter,” noted Dr. Harald Zink, the Chief Executive Officer (“CEO”) of Applied Magix.
“For example, various sensors track a number of conditions around your house, but when processed by an AI system, analysis of those conditions can be used to trigger actions that increase security or save you money in the long run,” he added.
SPYR is also working towards expanding its product and service offering, having announced that it is considering entering the mobile virtual network operators (“MVNO”) market. The company’s objective is to offer unique mobile phone plans exclusively for iPhone users. According to Dr. Zink, “There are a lot of great carriers out there providing mobile services, but for most of them it feels like their Apple customers are an afterthought, which is frustrating if you’re an Apple user,” (https://nnw.fm/jOcWq).
While making the announcement, Dr. Zink noted that SPYR’s management feels that the company can do better by offering iPhone users reliable mobile services specific to their needs and wants.
“We feel that we can do better – of course, we are not just going to jump into this. We are carefully exploring and evaluating the available MVNO offerings, as well as exploring and evaluating the market space, to see what customers want,” reckoned Dr. Zink.
Going forward, SPYR plans to capitalize on the different relationships in the mobile services industry as it researches its MVNO services. Should it go through, this new offering will be an excellent avenue for pushing the Magix brand into the market, growing its brand equity and overall brand recognition.
“If we decide to pursue this route, it will be fun to see MAGIX as the carrier logo displayed on our iPhones,” said Tim Matula, the CEO of SPYR Technologies.
“We have various relationships that we are exploring to help is with this research of MVNO services, including some former associates that are active in the mobile phone services market,” he added.
By 2025, the global smart home market will be valued at $187 billion, up from $104 billion in 2021, representing a CAGR of 15.75%. The MVNO market, on the other hand, is expected to reach $91.63 billion in value by 2026, up from $61.9 billion in 2020. This will represent a CAGR of 6.75% over the forecast period (https://nnw.fm/mV53Z).
SPYR is looking to capitalize on this growth by exploring AI and the MVNO market with its product offering. By doing so, it will diversify its product range, strengthen its existing line, and offer value to customers and shareholders.
For product information, please see the Applied Magix website at https://AppliedMagix.com, or specific product sites:
- MagixDrive Wireless CarPlay Adapter – https://appliedmagix.com/MagixDriveBundle
- HomeKit Secure Video Camera with iCloud Storage – https://appliedmagix.com/HomeKitCamera
- Multipurpose Sensor with Alarm – https://appliedmagix.com/HomeKitAlarmSensor
- Environment and Motion Sensor – https://appliedmagix.com/HomeKitMotionSensor
- Window and Door Contact Sensor – https://appliedmagix.com/HomeKitContactSensor
- MagixBlock USB DataBlocker – https://appliedmagix.com/MagixBlock
- MagixCharge Dual USB-C Car Charger – https://appliedmagix.com/MagixCharge
For more information, visit the company’s website at www.Spyr.com.
NOTE TO INVESTORS: The latest news and updates relating to SPYR are available in the company’s newsroom at https://nnw.fm/SPYR
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