Iveda Receives Deposit for a 1,000-camera Order for Philippines Telecom
MESA, Ariz. (November 3, 2016) – Iveda® (OTCQB: IVDA), worldwide enabler of cloud-based video surveillance and data management through the licensing of its Sentir® platform, today announced the receipt of a deposit for 1,000 ZEE® plug-and-play cloud cameras from Filcomserve, Iveda’s exclusive reseller in the Philippines. The cameras will be sold through Philippine Long Distance Telephone Co. (PLDT), a multi-billion-dollar telecom and Filcomserve’s largest customer.
The order consists of 200 outdoor cameras and 800 pan/tilt indoor cameras. This is a follow-on order to the1,300 cameras already shipped through July 2016 and the first inventory for a PLDT marketing program which is anticipated to result in monthly purchases by Filcomserve.
In addition to the camera revenue, Iveda will earn a recurring monthly Sentir licensing revenue for each camera activated on the Sentir platform.
Utilizing Iveda’s Sentir platform, PLDT launched its first-of-its kind cloud video surveillance offering in the Philippines to cater to its millions of subscribers. When they first launched, they only test marketed to their DSL subscribers. Since then, they have decided to expand to all their Internet subscribers. PLDT is going after the small-to-medium enterprise market.
PLDT is the Philippines’ leading provider of domestic, international long distance, broadband, cellular services and information and communications technology with over 70 million subscribers (more subscribers than Sprint and T-Mobile in the U.S.). PLDT is listed on the Philippine Stock Exchange (PSE:TEL) and its American Depositary Shares are listed on the New York Stock Exchange (NYSE:PHI). PLDT has one of the largest market capitalizations among Philippine-listed companies.
Iveda, Sentir and ZEE are registered trademarks of Iveda Solutions, Inc. All other trademarks are property of their respective owners.
Iveda® (OTCQB:IVDA) enables cloud video surveillance by licensing its Sentir® video and data management platform, utilizing proprietary video streaming and Big Data storage technology. Iveda enables a recurring revenue model by licensing Sentir to service providers for plug-and-play cloud video offering to their customers. Iveda has a SAFETY Act Certification from the Department of Homeland Security as a Qualified Anti-Terrorism Technology Provider. Iveda is headquartered in Mesa, Arizona with a wholly-owned subsidiary in Taiwan. Iveda is publicly traded under the ticker symbol “IVDA.” For more information call (480) 307-8700 or visit www.iveda.com. To follow Iveda visit www.facebook.com/ivedasolutions, www.twitter.com/ivedasolutions or www.linkedin.com/company/iveda-solutions.
This release includes forward-looking statements. Actual results may vary materially from those expected. Iveda’s business is subject to significant risks and uncertainties described more thoroughly in the Company’s SEC filings, including but not limited to its report on Form 10-K for the year ended December 31, 2015 and its subsequently filed quarterly reports on Form 10-Q. All forward-looking statements made herein are qualified by such risk factors, and readers are advised to consider such factors carefully. Iveda undertakes no obligation to revise these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Luz A. Berg
Chief Marketing Officer