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Norwood Systems’ shares rise on World Phone 2.0 launch

Published: 08:00 28 Oct 2016 AEDT

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Norwood Systems Ltd’s shares rise on World Phone 2.0 launch

The company’s shares were last trading at $0.026, up 24% intraday.

World Phone 2.0 for iPhone and iPads include a number of new features that makes its services virtually seamless compared to cellular calling.

Users can now toggle between World Phone and cellular calls, with incoming World Phone calls being delivered to the handset even if the app is not running.

Moreover, incoming World Phone calls are displayed with the traditional telephony UI experience including a full screen incoming call alert.

Norwood has also released Corona Cloud 1.0, upgrading it from the beta release status.

The Corona Cloud combined with the World Phone 2.0 app enables “virtualisation” (i.e. no requirement for separate physical handsets) of corporate phones and employees’ personal handset.

This is facilitated using a “bring your own device” (BYOD) provisioning architecture developed by Norwood.

Typically, virtualising company phones by using BYOD can save over 70% of telecommunications costs and deliver significant operational benefits to enterprises.

For Norwood, this represents a SaaS (Software as a Service) recurring monthly, high-margin revenue opportunity.

Given the average mobile fleet size of potential sales opportunities are 4,000+ mobiles per enterprise, each opportunity represents a $1 million+ annual contract value.

Norwood is commencing field trials with 10+ organisations in the next 30 days and is expected to make further announcements as contract negotiations progress.

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