Gizmondo claims sales success, begins shipping online pre-orders

April 5th, 2005, 18:16 Posted By: wraggster

Recently launched handheld device Gizmondo is selling well, according to its creator, Tiger Telematics, with the roll-out across Europe continuing and the shipment of pre-ordered devices commencing.

The firm claims to have taken over 560,000 pre-orders for the system from customers around the world, and has now started shipping the device - which incorporates a game console, camera, movie and music player, GPS receiver and mobile communication deck - on a first come, first served basis.

The system was originally on sale only in a branded store in London's Regent Street, but is now being made available through a number of other retailers in the UK, and a pan-European launch is in the works. Gizmondo hopes to open a number of other flagship stores, similar to the Regent Street location, in cities around the world.

"The site will continue to take orders as the pan-European retail rollout commences, and we will ship to customers on a first-come-first-served basis," according to Tiger Telematics chairman Carl Freer. "We're visibly gathering momentum in the UK and that will naturally have a spill-over effect on to mainland Europe. Streetdate announcements will follow shortly detailing the pan-European launch diary and heavy hitting marketing campaigns planned for each territory."

In related news, the company has also released a statement to the financial markets regarding recent major fluctuations in its share price, assuring investors that the Gizmondo is on track to meet its targets.

The firm has expensed all development costs on the console in 2004 and early 2005, according to the statement, and funding is already in place for the launches across the rest of Europe.

"Based on a review of the recent share price volatility, this could be attributed to a combination of market conditions," stated Freer. "However, the trading patterns seem artificial in light of the recent announcements regarding our launch progress and success."

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