UTLM.OB Sees a Number of Favorable Conditions Driving its Business
This company was started by telecommunications experts focused on the Wired Car concept. They intend to bring together mobile devices for business and entertainment while mobile. Technologies not only provide this, but also provide customer safety while on the road. Their technologies are in demand as shown by their revenue sharing contract with Verizon and Dish networks that are already in place. They also continue to advance their proprietary technologies to strengthen their market position.
The global Infotainment market is expected to reach $35 billion by the year 2010, representing a tremendous opportunity for growth. Auto manufacturers have also begun to key in on the wired vehicle trend and have started placing connected car services in new cars. These technologies are becoming increasingly cheaper as well further driving demand. Europe has taken notice as well, many times exceeding US demand of GPS products.
Another trend driving their business is the viral growth of texting in the US and Europe. Last year mobile texting was up 96% year over year - a tremendous increase. This creates dangerous conditions as many drivers’ text and drive at the same time. The company’s products address this through a talking messaging system that is hands-free. Laws banning cell phone use while driving are in the works, further increasing the need for their mobile messaging solution.
According to President and CEO Howard Leventhal, “USTelematics is firmly committed to building shareholder value through the development of advance technologies and products that capitalize on the wired car revolution.”
