In order create an innovative solution that can be used to enhance communication and digital merchandising of products, 3M Company (MMM - Analyst Report) recently introduced its first fully integrated, interactive Virtual Presenter at South by Southwest Interactive (SXSW).
With this interactive digital communication through the Virtual Presenter, 3M has created a window of opportunity to capture data, generate leads and drive social engagements. This will enhance the interactive experience for the users.
Though virtual presenters have been in use for the last few years at airports and drugstores, 3M’s new virtual presenter will facilitate interactive digital communication combining several key indigenous technology areas like light management, films, projection, touch systems and commercial graphics.
The company will be initially launching its interactive Virtual Presenter in April in automotive dealerships. Market tests of the presenter are currently ongoing in New York and Florida.
3M remains focused on inventing new products and enjoying an important competitive advantage worldwide. The continued capital expenditure with new product launches should bolster its growth prospects in the long run and augment its revenues.
Despite the challenging macroeconomic environment, 3M reported record fourth quarter and full year 2012 revenue, benefiting significantly from its businesses in the emerging markets. Total sales in the fourth quarter increased 4.2% year over year to $7.4 billion. The company expects an organic local-currency sales growth of 2%-5% in 2013.
3M together with its subsidiaries operates as a diversified technology company with manufacturing operations spread over 70 countries worldwide. It has more than 35 business units organized into six segments: Consumer and Office, Display and Graphics, Electro and Communications, Healthcare, Industrial and Transportation, Safety, Security and Protection Services.
3M faces tough competition from other players in the industry such as Crane Co (CR - Analyst Report) and Tyco International Ltd (TYC - Analyst Report). 3M currently has a Zacks Rank #3 (Hold). One of its competitors, Macquarie Infrastructure Company LLC (MIC - Snapshot Report) carries a Zacks Rank #2 (Buy).