MESA, AZ--(Marketwired - Apr 8, 2015) - Iveda® (OTCQB: IVDA), enabler of cloud video surveillance through licensing the Sentir™ platform, announced today that Vietnam Posts and Telecommunications Group (VNPT) executed an agreement with Iveda to launch a cloud video surveillance service offering in Vietnam. VNPT will install Iveda's Sentir software platform in their data center and launch the service country-wide.
VNPT has regional sales and support offices in all 63 Vietnam provinces and will market to their DSL home and business subscribers. VNPT forecasts hundreds of ZEE® cameras sold per month in each province in the second half of 2015. At just 200 cameras per province, which equates to approximately 150,000 cameras annually, the hardware revenue to Iveda is approximately $1.5 million per month. True to Iveda's business model, Iveda will also receive a monthly recurring Sentir license fee per camera.
"This is more than just a new product offering," said An Tang vice director of the strategy board for VNPT. "This is a new business plan initiative that our regional sales offices in Vietnam are incentivized and mandated to implement as a significant source of new revenue. VNPT is very excited about this new offering and its ease of distribution to our customers. Sending a plug and play camera without a technician or technical installation is especially exciting to our sales organization."
Sentir enables VNPT's customers 24/7 access to both live and recorded video via a web browser and a free mobile app as well as email and SMS alerts. This cloud-based offering requires no DVR (digital video recorder) or special software.
"We have a strong customer demand for video surveillance," added Tang. "In the past, we have sold the traditional DVR-based systems, which required costly technical installation and support. It was not as efficient as we and our customers would have liked. We are excited to deliver Sentir cloud-enabled cameras to VNPT customers. We expect to increase business volume in the video surveillance market segment as a result of this collaboration."
"By enabling fast and efficient delivery of cloud video services, Sentir is providing telecoms greater competitive advantage globally," said David Ly, chairman and CEO of Iveda. "Vietnam is an exciting market for us, and we will use our success there as a template for further expansion around the world."
Iveda and ZEE are registered trademarks of Iveda Solutions, Inc. Sentir is a trademark of Iveda Solutions, Inc. All other trademarks are property of their respective owners.