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- Beam Communications (BCC) receives further orders worth over US$1.6 million (A$2.5 million) from Nasdaq-listed satellite services company, Iridium Communications
- Under the new order, Beam will manufacture Iridium GO! Devices, which were jointly developed by the companies and launched eight years ago
- Beam says the order is expected to be delivered in FY24 to meet the strong ongoing demand for the portable satellite hotspot device
- It believes that even as next generation devices are introduced, Iridium GO! is well positioned with its small size, functionality, and affordability
- Shares in Beam are up 2.08 per cent to trade at 24.5 cents at 10:56 am AEDT
Beam Communications (BCC) has received further orders worth over US$1.6 million (A$2.5 million) from Nasdaq-listed satellite services company, Iridium Communications.
Under the new order, Beam will manufacture Iridium GO! Devices, which were jointly developed by the companies and launched eight years ago.
Beam said the order is expected to be delivered in FY24 to meet the strong ongoing demand for the portable satellite hotspot device.
It believes that even as next generation devices are introduced, Iridium GO! is well positioned with its small size, functionality, and affordability.
Managing Director Michael Capocchi said the product will remain popular due to its highly portable form factor and attractive price point.
“Satcom devices also have uniquely long product lifecycles that typically extend for over 10 years,” he said.
“For this reason, Beam makes an enviable return on capital for product innovations that is difficult to match by other consumer electronics firms.”
Shares in Beam were up 2.08 per cent to trade at 24.5 cents at 10:56 am AEDT.
