Mark Fortunatow (MGM Wireless)
MGM Wireless is to launch its flagship children’s smartwatch in the UK following promising sales last year.
The Australian technology company will start selling Spacetalk in British retail stores from April ahead of the UK summer holidays.
To fund the inventory-build for the launch, the publicly-listed firm said it had drawn $500,000 of its existing $2 million convertible note investment.
Retail partners are expected to be announced over the upcoming months. MGM said its executives and potential distributors had been negotiating the UK launch for several months.
“The UK launch is a natural step for Spacetalk,” MGM Wireless CEO Mark Fortunatow said. “With a population of more than 66 million people, the UK market is approximately three times the size of our home markets of Australia and New Zealand.
“At this stage it is too early to say with absolute confidence what our sales expectations are. However, our first year Australian and New Zealand sales have exceeded expectations and we have been impressed by the enthusiasm and support expressed by UK retailers and distributors."
Founded in 2001, MGM Wireless had previously specialised in an SMS messaging service used by schools throughout Australia.
In 2017, the company launched Spacetalk, an all-in-one children smartphone, watch and GPS tracker aimed at further helping parents and children communicate.
Since its launch, the firm has signed Australian reseller deals with JB Hi-Fi and Leading Edge Group, plus Spark in New Zealand.
