Beam (ASX:BCC) marks a breakthrough as ZOLEO enters the UK and European markets

Highlights

• Seamless global messaging solution ZOLEO has been officially launched in Europe and the UK.
• The much-awaited launch marks the significant expansion of ZOLEO’s addressable market in the UK, Norway, Finland, Sweden, and Denmark.
• The satcom device will be sold online via Amazon and ZOLEO websites.
• Beam will receive 50% of the profits generated from the new markets.

ZOLEO Inc., a joint venture entity of Beam Communications Holdings Ltd (ASX:BCC) and Canadian company Roadpost Inc., has launched ZOLEO into the European markets. The global satellite messaging solution is now available in the United Kingdom, Norway, Finland, Sweden, and Denmark.

People across these countries will now have access to the unique multi-award winning ZOLEO device for connectivity, safety, and greater peace of mind wherever they go, even at the places without mobile coverage.

Read More: Beam (ASX:BCC) delivers strong Q3 with surge in sales receipts and dynamic ZOLEO subscription growth

Image source: Company announcement
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Bright prospects for ZOLEO success in Europe

The demand for personal satcom devices has been on the rise worldwide. The official launch of the compact satcom device in these European countries will trigger tremendous growth in the addressable market size for ZOLEO.

The total population of the five countries where ZOLEO has been launched is beyond 94 million people, approximately four times that of Australia.

According to a survey conducted with 9,500 people from 19 European countries (including the five listed above) in August and September 2021, 81% of the survey participants were involved in some kind of outdoor activity in the last one year. Also, the survey highlighted that about 60% of the respondents enjoyed such activities alone.

Related article: ZOLEO success sets up Beam Communications for a terrific second half

 Image source: ZOLEO website

Market worth and scale of ZOLEO in Europe

• Beam Communications will get 50% of the profits from subscribers in the European market.
• ZOLEO products will be sold directly through ZOLEO and Amazon websites.
• Price for ZOLEO device has been set at EUR269 and GBP209 in Europe and the UK, respectively.
• Flexible monthly subscriptions will be available from EUR20 to EUR60 for a plan with unlimited usage in Europe. The plan will be priced from GBP18 to GBP58 in the UK.

The Company’s authorised distributor CIRDAN will manage the distribution process in the Nordic region. CIRDAN is a leading outdoor accessories distributor having an expansive channel of retailers and dealers. Several prominent retailers of CIRDAN, such as Fjellsport, Astro and Platousport, will also be stocking ZOLEO units.

Also read: Unsure of cellular coverage? Meet ZOLEOTM, a device that can save your life

Stock information: BCC shares were trading at AU$0.292 midday on 04 May 2022. The Company has a market capitalisation of AU$26.79 million.

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