NORWOOD SYSTEMS (NOR.ASX) – Android downloads > 100,000 on first day of launch.
**DESK COMMENTARY**
NOR officially launched its World Phone app on the Android operating system today. Feedback from Google’s Play Store suggests the app has been downloaded > 100,000 times already.
Investment Thesis:
- NOR’s World Phone app for smart phones and the corporate solution CORONA provide a very compelling alternative to low quality Skype calls and more expensive international mobile roaming. Users can buy mobile call minutes in-app as well as purchase a local telephone number when overseas, allowing them to call “as a local” at landline quality. World Phone eliminates the need for travelers to swap sim cards or carry multiple phones, while CORONA can substantially lower corporate mobile communication costs.
- NOR launched the iOS version of its World Phone app at the end of July. It subsequently took one week to reach 25,000 downloads and three weeks to reach 50,000 downloads. After five weeks, the iOS downloads of World Phone reached 150,000.
- Overall in Apple’s App Store, World Phone has been the highest grossing Travel app in 97 countries at some point since launch (see chart), including high population countries such as India, while the app has been ranking high in other high population countries, such as China and Indonesia.
World Phone ranking for highest grossing App in Travel category
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- Today, NOR officially launched the Android version of World Phone with some preliminary trialling and downloads before the weekend. Going by Google Play Store information, the download number has exceeded 100,000 already on the day of launch (downloads in range of 100,000 to 500,000 bracket).
- In other words, if Google’s data is accurate this suggests a very high rate of downloads for the Android version of World Phone on day one, i.e. an adoption rate that is substantially faster than for iOS. While we were anticipated a fast uptake of World Phone on the Android platform, given popularity of the app in countries such as China, India and in the Middle East where Android has an approximate 80% OS market share, these download numbers are clearly higher than we were expecting.
- This download rate should accelerate NOR’s ability to monetise on World Phone through in-app purchases of call minutes and bundles.
- In our view, NOR has the potential to seriously disrupt the international mobile roaming market and should see its valuation expand accordingly as this potential becomes more obvious to the broader/global investment community.
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