MCLEAN, Va., May 7, 2010 -- Iridium Communications Inc. (Nasdaq:IRDM) announces that its revolutionary new satellite data transceiver is ready for market one month ahead of schedule and the company is accepting orders. The Iridium 9602™ short burst data (SBD) transceiver is lower cost, smaller and lighter than the company's previous model, the Iridium 9601™ transceiver. Its new form factor is driving the design of many new global Machine-to-Machine (M2M) data communications solutions by a wider range of Iridium development partners serving broader markets.
The culmination of a two year R&D collaboration among Iridium and its technical partners, the Iridium 9602 two-way device is designed to be embedded into partner-developed products and systems that enable remote M2M asset tracking and monitoring. It offers the same reliable, real-time critical communications service that Iridium has delivered since the inception of its SBD service and that the company plans to deliver through its next-generation satellite constellation, Iridium NEXT.
"The Iridium 9602 meets a communications need that only Iridium can deliver – truly global coverage – and is changing the game in terms of size, price and two-way data capability," said Joel Thompson, vice president of product management at Iridium. "The Iridium 9602 also provides our partners flexibility to serve new markets that require a smaller, lighter transceiver that is more easily integrated into their technology and is more affordable to their end-user customers."
"The number of low data rate mobile satellite services (MSS) devices is projected to double between now and the end of 2013. With this growth, and with Iridium's product innovation, the M2M market represents a significant opportunity for Iridium," said Tim Farrar, president, TMF Associates.
More than 90 Iridium partners have tested the Iridium 9602 for integration into new products. Planned Iridium 9602-based applications include telemetry from unattended sensors, fleet management, enterprise logistics and supply-chain visibility, tracking soldiers and military vehicles, and personal two-way navigation and mapping.
For more information on Iridium products and solutions, visit www.iridium.com.
Statements in this press release that are not purely historical facts may constitute forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding Iridium NEXT. Other forward-looking statements can be identified by the words "anticipates," "may," "can," "believes," "expects," "projects," "intends," "likely," "will," "to be" and other expressions that are predictions or indicate future events, trends or prospects. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Iridium to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, uncertainties regarding the development and availability of financing for Iridium NEXT and other risks that affect our ability to generate cash internally, as well as general industry and economic conditions, and competitive, legal, governmental and technological factors. Other factors that could cause actual results to differ materially from those indicated by the forward-looking statements include those factors listed under the caption "Risk Factors" in the company's Form 10-K for the year ended December 31, 2009, filed with the Securities and Exchange Commission on March 16, 2010. There is no assurance that Iridium's expectations will be realized. If one or more of these risks or uncertainties materialize, or if Iridium's underlying assumptions prove incorrect, actual results may vary materially from those expected, estimated or projected. Iridium's forward-looking statements speak only as of the date of this press release and Iridium undertakes no obligation to update forward-looking statements.
About Iridium Communications Inc.
Iridium Communications Inc. (www.iridium.com) is the only mobile satellite service (MSS) company offering coverage over the entire globe. The Iridium constellation of low-earth orbiting (LEO) cross-linked satellites provides critical voice and data services for areas not served by terrestrial communication networks. Iridium serves commercial markets through a worldwide network of distributors, and provides services to the U.S. Department of Defense and other U.S. and international government agencies. The company's customers represent a broad spectrum of industry, including maritime, aeronautical, government/defense, public safety, utilities, oil/gas, mining, forestry, heavy equipment and transportation. Iridium has launched a major development program for its next-generation satellite constellation, Iridium NEXT. The company is headquartered in McLean, Va., USA and trades on the NASDAQ Global Market under the ticker symbols IRDM (common stock), IRDMW ($7.00 warrants), IRDMZ ($11.50 warrants) and IRDMU (units).
CONTACT: Iridium Communications Inc. Marie Knowles +1 (703) 287-7476 email@example.com