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Smart TV Manufacturer Bundles Iveda's Cloud-Based Zee Cameras(March 19, 2014)
MESA, ARIZ. -- (Marketwired) -- 03/19/14 -- Iveda® (OTCQB: IVDA), the pioneer in cloud video hosting technology, takes its cloud video platform to Smart TVs through its partnership with a major Taiwanese television manufacturer. This company has the third largest market share in Taiwan and sells over 180,000 units every year.
Iveda has been in the forefront of cloud video surveillance innovation since 2003. After first transforming smartphones into IP cameras hosted in the cloud, Iveda has now integrated Zee, its plug and play cameras, and Sentir, its software as a service ("SaaS") cloud video hosting platform with proprietary video streaming and storage compression technology, into Smart TVs.
Smart TV goes beyond standard programming and connects directly to the Internet without another device. People no longer just watch delivered content on their televisions. With apps on Smart TVs, people can now search the Internet and download such content as Netflix, Hulu and online news. Some of these services require paid subscriptions, while others are free. Smart TVs also provide a platform for games and have built-in media apps for playing music from a USB drive or online source. Television is no longer a passive appliance in the home or office, as these apps allow an interactive experience not only for pure entertainment, but for other functionalities, such as security.
Smart TV opens a new market for developers and Big Data providers. Those with cloud infrastructure are ideally positioned, because Smart TV manufacturers want to do what they do best -- manufacture the highest quality and most innovative televisions, while collaborating with service providers to make their Smart TVs more intelligent and feature-rich. Iveda allows manufacturers to provide additional functionality to consumers and businesses, through a per-device subscription utilizing Iveda's proprietary Sentir cloud video hosting platform.
This new partner was looking for a unique application to add to its traditional Smart TV services, and it honed in on home and business security. Iveda had a ready solution for the manufacturer -- cloud-hosted Zee cameras, ideal for consumers and small businesses because of their plug and play feature. Customers no longer need software to run security cameras or a DVR (digital video recorder) to record and store video, or a computer to view video. Cameras are accessed and managed from the Smart TV wherever the cameras may be located -- whether at a primary residence, a vacation home, or a business.
This partnership with Iveda provides the manufacturer with a new revenue stream by bundling its Smart TVs with Iveda cloud-hosted cameras. Monthly recurring revenue for services is a new and very attractive proposition for television manufacturers. No longer do they have to wait for customers to buy a new television to earn additional revenue, because the customers now pay the manufacturer a monthly fee, which is shared with Iveda, for their cloud video surveillance service.
The new partner has purchased several hundred Zee cameras for distribution through its 600 franchise dealers. Other distribution channels include TV shopping networks, malls, online stores and retail stores.
"Our partner is setting a new standard in Smart TV innovation as the first to integrate cloud-hosted security functions," said David Ly, chairman and CEO of Iveda. "While we have started in Taiwan, our plans call for expansion into the U.S. and other countries."
"This is still all new, growing fast, and loaded with potential. Nearly every home around the world has a television, with multiple units in many homes in the more developed countries. Eventually, all televisions will be smart."
"Imagine all TVs having access to the Internet, not only providing on-demand entertainment, but integrated video games and cameras for security. This is consumer convenience at its best," concluded Ly.
Iveda is a registered trademark of Iveda Solutions, Inc. Zee and Sentir are trademarks of Iveda Solutions, Inc. All other trademarks are property of their respective owners.
Iveda (OTCQB: IVDA) is a premier cloud video hosting service provider, a technology innovator, and a provider of enterprise-class Video Surveillance as a Service ("VSaaS") solutions. The Company has a SAFETY Act Designation from the Department of Homeland Security as a Qualified Anti-Terrorism Technology Provider. Iveda is headquartered in Mesa, Arizona and has a subsidiary in Taiwan (MEGAsys). Its common stock trades on the OTCQB under the symbol "IVDA". For additional information call (800) 385-8616 or visit www.iveda.com.
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, 2012 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.
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