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Starcom hopes to unlock sales margins with early product release
Wireless tracking solutions firm Starcom announced on Thursday that the latest version of its Watchlock Cube, the company's award winning padlock, is now available to the market ahead of schedule.
The AIM-traded company said the product, which was originally planned for release in the third quarter of this year, combines GPS and cellular technology with a high-security padlock to ensure "security and constant communication".
The latest iteration has been developed in-house but unlike prior versions of the product it will be marketed under the Starcom brand, rather than in partnership.
According to the company it will therefor benefit from a higher sales margin.
A statement from Starcom said: "The success of the Watchlock is based on its ability to detect any irregular event which will immediately trigger an emergency alert, allowing the prevention of a breach or damage to the cargo or station it is protecting."
The product's electronic shell allows it to fit a variety of C10 padlocks from various manufacturers, and the company hopes that its lower price and more durable battery life will lead to stonger sales than those experienced by the product's forebears.
As of 0927 BST, Starcom's shares were up 1.72% at 2.95p.