FOBI Releases the Next Generation of its Proprietary IoT Device, Fobi 3.0
September 15 2021 - 5:00AM
Fobi AI Inc. (TSX.V: FOBI) (OTCQB: FOBIF) (the "Company" or
"Fobi"), a global leader in providing real-time data analytics
through artificial intelligence to drive customer activation and
engagement, is excited to announce the launch of the next
generation of the company’s proprietary IoT hardware device, Fobi
3.0.
Fobi 3.0 will provide a significant upgrade from the company's
original Fobi device. Fobi 3.0 is set to provide an out
of the box, plug and play solution that is not dependant on any IT
integration, and with an all-new design it will be the first of its
kind to provide the ability to connect and consolidate all existing
peripherals in a typical retail environment such as POS (Point of
Sale systems), receipt printers, and barcode scanners.
FOBI SECURES CRITICAL CHIP COMPONENTS AMIDST GLOBAL
SUPPLY CHAIN DISRUPTION
In light of the current global supply chain shortages, tech
companies like Voltera and auto companies like Ford are being
forced to limit and delay the production of their products,
significantly impacting their revenues and
profitability. In contrast to the current global supply
chain issues that companies like these are facing, Fobi’s strategic
foresight, and engineering ingenuity with the all-new board design
and architecture of the new Fobi 3.0 device mean that Fobi’s
engineering team has successfully been able to secure key chip
components and increase inventory levels needed to support current
and execute future business opportunities. The company is now
extremely well-equipped in its final preparations for large-scale
rollouts which are expected before year-end.
Tamer Shafik, CTO of Fobi stated: “Our
Engineering team has taken the current global supply chain issues
very seriously, and as such we have been strategically planning to
offset and mitigate any potential disruption in the delivery to our
clients by securing various critical parts, in conjunction with
redesigning our Fobi 3.0 device to best meet current global parts
availability. We are now extremely well-positioned to meet the
upcoming needs of our expected near-term roll outs thanks to our
current levels of inventory. Our innovation, ingenuity, and our
ability to ‘design for availability’ positions us extremely well to
deliver the highest level of value to our current partners and
customers as well as to now continue to deliver our Fobi 3.0
devices at global scale.”
FOBI SET TO DELIVER THE NEXT EVOLUTION OF CONNECTED
RETAIL
True to Fobi's mission, Fobi 3.0 consolidates key elements to
deliver seamless data interoperability and real-time connectivity.
Fobi 3.0 eliminates the need for additional hardware or software by
adding key upgrades such as dual USB ports, enhanced data
processing and computing, increased device memory, and together
with the new operating system built into every Fobi 3.0, the device
will enable the capability to deliver a much higher capacity of
edge computing which enables improved and far greater POS marketing
functionality. Fobi 3.0 will also support native NFC applications
and will enable the company to truly provide smart data in motion
to our clients, enabling them to make faster, data-driven business
decisions which is key to increasing profitability.
FOBI 3.0 RELEASE IS WELL-TIMED TO SUPPORT ANTICIPATED
CLOSING OF QPLES TRANSACTION
With the anticipated closing of the previously announced Qples
acquisition, the all-new additional capabilities and features such
as collecting scan data directly from the barcode scanners is very
well timed. One of the major benefits of collecting scan data is
the ability to collect barcode coupon redemptions in Fobi’s Insight
Portal. This all-new functionality supports the Qples functionality
and adds support for The Coupon Bureau’s new 8112 digital universal
standard for single-use verified coupons, which is key as it will
help drive significant new business revenue models and
opportunities. Fobi 3.0’s all-new functionality will now also
enable retailers to track and measure CPG and store-level marketing
activations with campaign performance metrics such as redemption
and basket level data, all in real-time.
Rob Anson, CEO of Fobi stated, “Today is a
monumental day for the company and its shareholders. This new
product release will not only provide us with an entirely new level
of capabilities and functionality but it also provides us with the
means to continue to execute on our near turn opportunities and our
stacked business pipeline. Today’s product release also provides us
with an all-new level of incredible value to our channel partners
such as TELUS. Our company’s nimbleness and agility have once again
been proven with the development and execution of our all-new Fobi
3.0 device which now further strengthens our current channel
partnerships with companies like TELUS, particularly given Fobi’s
status as a TELUS procurement partner and TELUS now white labeling
Fobi solutions.”
This Press Release Is Available On the Fobi AI website, and also
on the Verified Forum On AGORACOM For Shareholder Discussion And
Management Engagement.
About FobiFobi is a cutting-edge data
intelligence company that helps our clients turn real-time data
into actionable insights and personalized customer engagement to
generate increased profits. Fobi's unique IoT device has the
ability to integrate seamlessly into existing infrastructure to
enable data connectivity across online and on-premise platforms
creating highly scalable solutions for our global clients. Fobi
partners with some of the largest companies in the world to deliver
best-in-class solutions and operates globally in the retail,
telecom, sports & entertainment, casino gaming, and hospitality
& tourism industries.
For more information, please contact:
Fobi AI Inc. |
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Fobi Website: www.fobi.ai |
Rob Anson, CEO |
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Facebook: @ Fobiinc |
T : +1 877-754-5336 Ext. 3 |
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Twitter: @ Fobi_inc |
E: ir@fobi.ai |
|
LinkedIn: @ Fobiinc |
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Forward-Looking Statements/Information:This
news release contains certain statements which constitute
forward-looking statements or information. Such forward-looking
statements are subject to numerous risks and uncertainties, some of
which are beyond the Company's control, including the impact of
general economic conditions, industry conditions, and competition
from other industry participants, stock market volatility and the
ability to access sufficient capital from internal and external
sources. Although the Company believes that the expectations in its
forward-looking statements are reasonable, they are based on
factors and assumptions concerning future events which may prove to
be inaccurate. Those factors and assumptions are based upon
currently available information. Such forward-looking statements
are subject to known and unknown risks, uncertainties and other
factors that could influence actual results or events and cause
actual results or events to differ materially from those stated,
anticipated or implied in the forward-looking statements. As such,
readers are cautioned not to place undue reliance on the
forward-looking statements, as no assurance can be provided as to
future plans, operations, results, levels of activity or
achievements. The forward-looking statements contained in this news
release are made as of the date of this news release and, except as
required by applicable law, the Company does not undertake any
obligation to publicly update or to revise any of the included
forward-looking statements, whether as a result of new information,
future events or otherwise. The forward-looking statements
contained in this document are expressly qualified by this
cautionary statement. Trading in the securities of the Company
should be considered highly speculative. There can be no assurance
that the Company will be able to achieve all or any of its proposed
objectives. Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
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