The Big Picture, page-15

MGM Wireless (ASX:MWR) has posted record third quarter results with revenue up 392% on the prior corresponding period, reaching $1.4 million following surging sales of its all-in-one children’s smart watch, mobile phone and GPS tracker known as Spacetalk.

Financial year revenue to March 31, 2019 was up 193% on the same period last year to $5.47 million as Spacetalk unit sales rose by 1603% to 16,100 in the same period

The company spent almost four years designing and developing Spacetalk in Australia after identifying a niche market in children’s wearables.Fortunatow said a new version of Spacetalk has been specifically built for the UK, which operates the 900/2100 bands making Spacetalk compatible with the mobile phone spectrum across Europe.He continued: “Our main energies will be directed at the UK market and its predominantly English language customers.“We are actively negotiating and launch planning with several parties and expect to be able to make an announcement in due course.”