International success boosts FeONIC
THE success of recent distribution agreements has paved the way for continuing overseas expansion, audio technology firm FeONIC said today.
In a trading update the Hull-based firm said that its widened network had had a positive effect on company sales with the board anticipating an increase of 50%.
Operating losses are also expected to be reduced.
Earlier this year FeONIC announced distribution agreements covering the UK, Norway and part of the Middle East.
The firm also secured a deal to support a company that focuses on helping councils and other official bodies satisfy current Disability legislation.
FeONIC said that it is now planning to extend its Middle East distribution network and is hoping to expand to Commonwealth of Independent States (CIS) countries – an increase of 25 states.
On the research and development side, FeONIC continues to work on product enhancements for the F-series and product accessories for the entire FeONIC range.
The highly innovative new Soundbug is currently in the final stages of development and will be introduced at the Consumer Electronics Show in January with the expectation that volume sales will start in April.
FeONIC’s associated company FeONIC Transport has likewise made significant headway in the transport sector in the period.
Trials are in place in the UK, Spain, Switzerland, Japan and Hong Kong for activating platform doors on tube stations.
The activating platform doors are to be used for issuing crowd control and other passenger information. The company anticipates to provide further information on these trials by the end of the year.
FeONIC has also continued strengthening its ties with South East Asia through FeONIC SEA., which has won its first government contract in Singapore replacing a competitive audio system with FeONIC devices.
FeONIC SEA is beginning to make headway in Malaysia and Thailand and expects to reach its sales target by the end of the year.
Brenda Hopkins, chairman of FeONIC, said: “2009 has been the continuation of an exciting time for FeONIC.
“Not only have we dramatically improved the overall conversion rate from enquiry to sale, thus increasing total sales and decreasing losses, but we are also continuing to build and further expand our specialised worldwide distribution network.”
She continued: “This will allow us to efficiently target major markets. On this basis, we are continuing the product development both in the transport and consumer electronic focussed sectors.”
The FeONIC technology allows its audio products to turn virtually any surface or structure into a high quality loudspeaker with evenly distributed sound.
The sound drives can be integrated with any existing audio source, such as PCs, projectors and video walls.
