MESA, Ariz. (June 14, 2016) – Iveda® (OTCQB: IVDA), worldwide enabler of cloud-based video surveillance and data management through the licensing of its Sentir® platform, today announced that Hai Chu School District expects to complete installing 320 ZEE® cameras this week, at schools in Da Nang City. ZEE is Iveda’s Sentir-enabled plug-and-play cloud cameras.
Iveda’s customer Vietnam Posts and Telecommunications Group (VNPT), the project’s general contractor, will install an additional 680 ZEE cameras within other school districts in Da Nang over the next few weeks.
“We’re focusing our efforts to oversee customer engagements of our local reseller and VNPT as these actual end-user deployments of ZEE cameras mark the true Vietnam market launch,” said David Ly, CEO of Iveda. “With schools’ plan of putting cameras in each classroom and relevant common areas, VNPT is estimating 1,000 to 3,000 ZEE cameras per district. This school security application alone has the potential to generate sales of hundreds of thousands of cameras over the next few years, at approximately $50 million to $150 million in camera revenue.”
VNPT already has similar contracts with other school districts throughout Vietnam. The Telecom chose the city of Da Nang as the model for a large-scale deployment to establish a cloud-based video surveillance standard for countrywide school safety and security.
“School security, funded by the government, is just one application awarded to VNPT. We’ve been working with them in securing an umbrella contract with cities throughout Vietnam for private cloud video surveillance solution for safe city projects. We’ve also been assisting them in preparation for a market launch targeting consumers, through their retail stores,” added Ly.
Vietnam has 63 provinces with about 8 school districts per province with an average of 32 schools in a typical district.
Da Nang has the fifth largest population and is the third biggest economic center in Vietnam after Hanoi and Ho Chi Minh City. It is also one of the major port cities and transportation hubs in Vietnam.
Iveda, Sentir and ZEE are registered trademarks of Iveda Solutions, Inc. All other trademarks are property of their respective owners.
Iveda® (OTCQB:IVDA) enables cloud video surveillance by licensing its Sentir® video and data management platform, utilizing proprietary video streaming and Big Data storage technology. Iveda enables a recurring revenue model by licensing Sentir to service providers for plug-and-play cloud video offering to their customers. Iveda has a SAFETY Act Certification from the Department of Homeland Security as a Qualified Anti-Terrorism Technology Provider. Iveda is headquartered in Mesa, Arizona with a wholly-owned subsidiary in Taiwan. Iveda is publicly traded under the ticker symbol “IVDA.” For more information call (480) 307-8700 or visit www.iveda.com. To follow Iveda visit www.facebook.com/ivedasolutions, www.twitter.com/ivedasolutions or www.linkedin.com/company/iveda-solutions.
This release includes forward-looking statements. Actual results may vary materially from those expected. Iveda’s business is subject to significant risks and uncertainties described more thoroughly in the Company’s SEC filings, including but not limited to its report on Form 10-K for the year ended December 31, 2015 and its subsequently filed quarterly reports on Form 10-Q. All forward-looking statements made herein are qualified by such risk factors, and readers are advised to consider such factors carefully. Iveda undertakes no obligation to revise these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Luz A. Berg
Chief Marketing Officer