SOURCE: DataWind, Inc.

DataWind, Inc.

May 19, 2016 08:00 ET

DataWind Sales Surpass 300,000 Units in Fiscal Q4 2016

MISSISSAUGA, ON--(Marketwired - May 19, 2016) - DataWind, Inc. (TSX: DW), the leader in delivering Internet access to emerging markets, reported that it sold more than 300,000 units for the three months ending March 31, 2016, which will be a record for the company.

Unit sales in the fiscal fourth quarter of 2016 increased from 251,000 units from the prior quarter and 184,000 units from the same year-ago quarter. The increases were driven by higher sales of DataWind's new lower-priced smartphone products.

                     
    Q4 Fiscal 2015   Q1 Fiscal 2016   Q2 Fiscal 2016   Q3 Fiscal 2016   Q4 Fiscal 2016
Units Sold   184,000   218,000   235,000   251,000   300,000+
                     

"Demand remains strong for our low-cost tablets and smartphones equipped with affordable Internet access," said Suneet Singh Tuli, president and CEO of DataWind. "As our record results reflect, we are seeing tremendous interest in our products from both home-shopping network channels and physical retail distribution partners.

"A key driver of the significant improvement in units sold was our strategic decision to expand our sales and marketing activities for our most affordable products, and, as such, expect to see a slight increase in related expenses reflected in our fourth quarter financial results. These efforts, coupled with the sale of lower priced units, allowed us to penetrate further into the Indian market, resulting in our record number of units sold for the quarter and consistent top line growth. Along those lines, we look forward to providing a more comprehensive update on our business and outlook when we report our fiscal year-end results next month.

"Looking ahead, we are confident our increasing sales momentum will lead to the expansion of our carrier relationships and product distribution, enabling us to rapidly accelerate our mission of providing low-cost Internet solutions to millions of people around the world."

DataWind plans to report its complete fiscal fourth quarter and full year 2016 financial results toward the end of June.

About DataWind
DataWind, Inc. is a leader in providing affordable mobile Internet connectivity in emerging markets. The company's patented, cloud-based technology reduces up to 97% the amount of data needed for web browsing, providing a broadband experience on any network -- even on legacy 2G networks that are still prevalent in developing countries. DataWind also provides economical smartphones and tablets that come bundled with one year of unlimited Internet access, making it the largest tablet provider in India. DataWind's unique solution offers broad social and economic benefits for the billions of people around the world for whom an Internet connection was previously out of reach. DataWind is traded on the Toronto Stock Exchange (TSX: DW). For more information visit www.datawind.com.

Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information includes information with respect to our goals, beliefs, plans, expectations, anticipations, estimates and intentions. Forward-looking information is identified by the use of terms and phrases such as "may," "would," "should," "could," "expect," "intend," "estimate," "anticipate," "plan," "foresee," "believe," and "continue," or the negative of these terms and similar terminology, including references to assumptions. Please note, however, that not all forward-looking information contains these terms and phrases. Forward-looking information is based upon a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond our control. These risks and uncertainties could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, the risk factors identified in the Company's prospectus dated June 27, 2014, which is available on the SEDAR website at www.sedar.com. Consequently, all of the forward-looking information contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained herein is provided as of the date hereof, and we do not undertake to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.

No securities regulatory authority has either approved or disapproved the contents of this press release/media advisory.

Contact Information

  • Company Contact:
    Dan Hilton
    Chief Financial Officer
    DataWind Inc.
    +1(613) 277-3266
    Email Contact

    Investor Relations:
    Michael Koehler
    Liolios Group, Inc.
    +1(949) 574-3860
    Email Contact