NEW YORK, NY, March 3, 2021 (GLOBE NEWSWIRE) - SPYR Technologies (OTC Pink: SPYR) and its wholly owned subsidiary, Applied MagiX, are meticulously looking at a roadmap they have created to compete with Apple® HomeKit® space-bar. Last quarter, SPYR acquired Applied MagiX, a registered Apple developer and reseller of products compatible with Apple ecosystems, to join the growing multi-billion dollar smart home market, a market expected by forecasters to reach 100 billion. billions of dollars over the next 4 to 6 years.
When asked what he sold when he bought Applied MagiX, SPYR CEO James R. Thompson said the company made the purchase after a thorough diligence on the company's future plans and the man at the helm of Applied MagiX. Dr. Harald Zink, CEO and founder. "In short, it was Dr. Zink's experience and vision for Applied MagiX. He has experience in product development, engineering and marketing and brings with him a wealth of experience and relationships, which he intends to use to the fullest to support SPYR in its endeavor. ”
Thompson highlighted Dr. Zink's long history of Apple products dating back to 1989 with his work on a real-time video digitization board (Vision Plus Enhanced) for Apple IIGS and his relationships with Apple executives, which led to long collaborations. duration with various manufacturers and developers, as well as with Apple directly, for the last 25 years, which is why Dr. Zink and his company, Applied MagiX, are ideal to help SPYR fight for its share of the smart home market.
So with Dr. Zink and Applied MagiX now under the SPYR umbrella, what is the short-term and long-term plan to start growing the SPYR footprint in this market? According to both Jim Thompson and Dr. Zink, companies have developed a multi-pronged approach to building, evolving and growing Applied MagiX.
"We have planned and budgeted for an initial period of establishing basic infrastructure, conducting competition research, conducting product research and sourcing. The acquisition of our developer license, the Apple "MFi" license (made for iPhone, iPad, etc.) and the establishment of a presence in Hong Kong to facilitate our work with our development and production partners in China were part of it. ”
The initial roadmap will see Applied MagiX provide various accessories and convenience products that will come under the company's new name, the Truly Convenient ™, sub-brand, including HomeKit products, to offer to the public through the company's online store.
While discussing the products the company will provide, Dr. Zink said: “These products will be verified as the type of products we want to use ourselves. These products will be USB chargers, USB car chargers, lightning and USB-C cables and will be part of our proprietary sub-brand Truly Convenient that we have created specifically for this purpose. We also aim to offer several Apple CarPlay devices, which will be aimed at improving the intelligent interfaces in modern cars. ”
This initial product launch will generate revenue for the company, establish distribution channels and test the company's online store, which is part of this construction phase, which will see a reorganization of the company's website to include an experience. online shopping, a more comprehensive and active experience. blog, along with a discussion and support forum for its customers and fellow Apple enthusiasts.
Dr. Zink, continuing to set the roadmap, said: “Our second phase involves launching our own products under our own brand. Product development deadlines push these products to about 6 months after the start of initial development, so these products should start appearing this fall.
"What I can say about our line of patented products is that those products will be, almost exclusively, products adapted to HomeKit. Our product line will consist of items that we know are in demand, as well as those that offer facilities. So, our product line will offer cameras that support HomeKit Secure Video, security devices to allow you to monitor your home and alert you to intrusions, as well as associated accessories for existing popular Smart Home products. ”
It should be clear that Applied MagiX is focusing on the Smart Home market, but especially on Apple consumers (HomeKit users), which cover a wide range of smart devices that can connect to the HomeKit. Users have plenty of options, including door locks, lights, power outlets, cameras, thermostats, motion sensors, window shades, whatever you call them, and the Home app on your Apple-connected devices can handle it all. these in one place.
Dr. Zink says the company is focusing on the Apple HomeKit consumer market simply because most of the other players in the market are “in a sandbox that is undoubtedly overcrowded with sub-par products, which offers a margin low profit or not at all ”and is not a market interested in Applied MagiX.
"The Apple HomeKit consumer market offers excellent opportunities, not only because it is a market that appreciates premium products, but also because this market segment is still poorly served. We see several items missing from that market that we hope to be able to serve.
“This leads to our product goals - the development of Applied MagiX branded products that not only fit the HomeKit space, but offer a unique advantage through unique features. Although we are not interested in competing in the low price space, we expect to offer some products that aim to offer a premium experience at a competitive price. Thus, instead of competing at the lowest prices, we would prefer to offer additional features, skills or performance with our products. ”
SPYR will not stop at the Apple HomeKit market either. The acquisition of Applied MagiX was just the company's first blow to the technology sector. And the CEO of SPYR says that his company has its eyes on the future and other technologies.
"Another area of the fast-growing technology industry has home products that have an AI or artificial intelligence component, as well as real-time location and asset tracking (RTLS) systems and emergency alert systems. portable, using active radio frequency identification (RFID) technology in commercial applications. As we lay the groundwork for Applied MagiX and its initial sales, we are also exploring opportunities to bring such products under the umbrella of SPYR Technologies. ”
Read the press releases of SPYR Technologies presenting its productive quarter IV 2020, the acquisition of Applied MagiX, the plan to advance the company in 2021 and beyond, as well as the financing commitments that the company has secured in https://www.nasdaq.com/market-activity/stocks/spyr/press-releases
About SPYR Technologies
SPYR Technologies is a technology company that, through its subsidiary, Applied MagiX Inc., develops and resells Apple® ecosystem-friendly products, with a focus on the growing multi-billion dollar smart home market. SPYR continues to identify and target purchases that will increase its footprint in the industry and expand the products it offers to consumers, including companies that develop artificial intelligence products and smart technology.
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