I'm fairly confident GE will be the largest driver of NAN's revenues and profits for some years to come, so the specifics surrounding the distribution agreement are very relevant in my opinion.
The direct sales approach might yield higher gross margins, but I'll be very surprised if NAN's sales team is able to match that of GE's, meaning the GM's of the overall business will mainly reflect the distribution business rather than direct sales.
Direct sales strategy, page-16
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