Much in the same way that computers began to sneak up on the consumer market in the 1970’s, other computer related products are sneaking up on the consumer today. One might be aware of their existence, but not totally aware of their potential. These new product classes are a sneaky sort of thing because consumers tend to be unaware of how a new product class is slowly training them to become dependent on that class. Finding a new product class is not an easy thing to do, but if an investor can see it happening, they can profit nicely.
Location Based Technologies Inc., a software applications development company, works to develop and market software applications surrounding personal location. The company currently has an arraignment with Deutsche Telecoms T-Mobile G1 smartphone and is awaiting approvals for Apple’s iPhone.
The world of new products can be a fairly grey one if a consumer or manufacturer is not specifically looking for it. In many instances, new product introductions tend to sneak up on manufacturers to become a class unto themselves with little notice. Once a new product class becomes recognized, it is often already established and holds less opportunity for newcomers to capitalize. Smartphone software is one of these new product classes and is quickly developing as these cutting-edge phones penetrate the world market. Location Based Technologies has not missed the burgeoning applications product class and is quickly staking its claim to one part of it.
While some applications designers are developing applications relying on static information, such as maps and store location databases, Location Based Technologies is directing its efforts toward a real time location application. The company’s product will pinpoint a cell device so that a subscriber can locate where the desired unit is in real time. Generally, the product is designed to keep track of children, pets and other members of a specific group to a fairly narrow geographic area.
The product also has the capabilities of sounding an alarm if the subject in question strays from a predetermined area or if the devise physically begins to move faster than a specific rate (such as driving too fast.) Those using smartphones would indicate that these sorts of applications are commonplace. For those that have yet to upgrade from the more common cell phone to a smartphone would not.
As the battle for cell phone dominance is predicated on replacement phone sales rather than new customer generation, the market for new applications, as people upgrade, is very large. There is solid room for growth and profit for smartphone software as it appears to have few boundaries. Location Based Technologies seems to have a solid product to offer to smartphone users and should be ready to capitalize as smartphones become the norm rather than the exception.
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