Spectra Systems receives first production order for smartphone authentication product
StockMarketWire.com - Spectra Systems announced it has received the first production order for the company's patented materials-based smartphone authentication product, TruBrand.
This first of two expected orders is from Zhejiang Tobacco, one of the leading tobacco companies in China.
This launch of TruBrand, to be incorporated into approximately six million to eight million cigarette packs to be sold in China, is aimed at gauging acceptance of the TruBrand technology and further refining the product for use in potentially billions of units for larger volume brands in the future.
These first orders are specifically for one of the highest value cigarettes brands in China manufactured by Zhejiang Tobacco, the Liquan Yunduan Series, which retails for 120 RMB ($16.80) per pack.
Lower priced brands sell for approximately $3 to $5 per pack and are typically in the billions of packs annually.
Approximately 60% of the price is believed to go to government tariffs.
CEO Nabil Lawandy stated: "We are delighted that Zhejiang Tobacco has decided to increase their commitment to the technology from large scale manufacturing testing to introducing the technology to the market with a very sought after high end tobacco product for sale primarily in China.
"This is particularly good news in light of the existing strained trade relations between the US and the Peoples Republic of China.
"We are optimistic that this first launch with one of the highest value cigarette brands in China will lead to the adoption of TruBrand across larger volume product lines, that could downstream result in over a billion units annually from this supplier alone."