Sonim Technologies Announces Receipt of $9.5M Purchase Order

May 5, 2022 By MarketDepth

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Sonim Technologies (Nasdaq: SONM) today announced purchase orders totalling $9.5 million from a top U.S. carrier customer. 

Shares Surge 25%

Shares of Sonim Technologies (Nasdaq: SONM) surged over 25% during the premarket trading session following the announcement.

“We are excited to secure these initial orders from a long-time carrier partner for our new rugged XP5 Plus and XP10 smartphone devices, planned for introduction later this year.””

Peter Liu, Chief Executive Officer at Sonim

The purchase orders cover initial stocking inventory for the XP5 Plus feature phone with enhanced PTT capabilities and Sonim’s next-generation XP10 5G rugged smartphone. While the former is expected to be available this summer, Sonim’s new XP10 rugged 5G smartphone devices are expected to begin shipments in the fall. 

“These early awards demonstrate the carrier excitement for our next generation phones featuring Sonim’s rugged engineering technologies. We believe these awards are also early indicators of the market demand we seek to tap under our new business strategy, offering a wider range of 5G smartphones, feature phones, mobile hot spots and other industrial communications equipment that incorporate our rugged heritage.”

Peter Liu, Chief Executive Officer at Sonim