Unprecedented Demand for Inseego Hotspots
Inseego Corp. (Nasdaq: INSG) today announced that it is ramping up production of its 4G and 5G MiFi® mobile hotspots and other wireless connectivity devices in response to record increases in demand for reliable, secure home internet access.
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Inseego MiFi devices - Work from Home (Photo: Business Wire)
With hundreds of millions of business and government employees, students and others now connecting from home, Inseego's plug-and-play wireless products are meeting the need for fast, reliable, secure internet connections. These products also provide a fast and easy solution for the 25 million Americans who currently have no home broadband at all by delivering high-speed internet access over a wireless network, using a compact device that fits in the palm of your hand.
"We're seeing unprecedented demand for our wireless mobile broadband devices, spurred by the dramatic change in how we are living, working and learning from home. Our hotspots provide instant access to broadband connectivity and unlock all the applications used not only at home but also on the go, with outstanding performance, bullet-proof security and reliable connections to corporate networks, learning resources, healthcare providers, friends and families," said Inseego Chairman and CEO Dan Mondor.
"To meet this surge in demand, wehave already doubled our production and we have the ability to expand to 5-6 times our normal volumes in the near term. We're prepared to scale up quickly, not only during the COVID-19 pandemic, but as mobile data traffic continues to grow, unabated, year after year, and drives the need for more 5G networks."
Mobile operators have taken several steps to expand the capacity of their networks by adding more spectrum and accelerating their investments in 5G, which uses spectrum more efficiently than 4G and vastly improves data throughput. They're also providing devices like Inseego's 4G and 5G MiFi mobile hotspots and modems, which deliver ultrafast, reliable, secure internet access everywhere.
About Inseego Corp.
Inseego Corp. (Nasdaq: INSG) is an industry pioneer in 5G and intelligent IoT device-to-cloud solutions that enable high-performance mobile applications for large enterprise verticals, service providers and small-medium businesses around the globe. Our product portfolio consists of Enterprise SaaS (News - Alert) solutions and IoT & Mobile solutions, which together form the backbone of compelling, intelligent, reliable and secure IoT services with deep business intelligence. Inseego powers mission critical applications with a "zero unscheduled downtime" mandate, such as asset tracking, fleet management, industrial IoT, SD WAN failover management and mobile broadband services. Our solutions are powered by our key innovations in purpose-built SaaS cloud platforms, IoT and mobile technologies including the newly emerging 5G technology. www.inseego.com #Putting5GtoWork
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, as amended to date, including, without limitation, statements regarding the Company's anticipated use of the proceeds of its financing, the success of the Company's planned expansion of product offerings, the Company's ability to achieve growth in the 5G, Cloud Telematics and IoT markets and other statements that are not purely statements of historical fact. These forward-looking statements involve risks and uncertainties. A number of important factors could cause actual results to differ materially from those reflected in the forward-looking statements contained herein. These factors include risks relating to technological changes, new product introductions, continued acceptance of Inseego's products and dependence on intellectual property rights. These factors, as well as other factors that could cause actual results to differ materially, are discussed in more detail in Inseego's filings with the United States Securities and Exchange Commission (available at www.sec.gov) and other regulatory agencies.