Sprint (S - Free Report) announced the launch of its brand new venture, Sprint IoT Factory, an innovative online B2B marketplace that provides a wide range of solutions to businesses at reasonable rates. These solutions are designed by making optimal use of IoT (Internet of Things) and leveraging its prowess, enabling companies to better run their businesses.
IoT Factory: A User-Friendly Business Solutions Store
This platform provides businesses with the ability to enhance their operations using IoT. The company feels that this will significantly help small or new enterprises enhance their business, as they will have access to latest technical solutions at reasonable rates. They just need to purchase from the online store and have the solutions delivered within a couple of days. The best part is that no technical expertise is required to install them. The marketplace offers a unique range of readymade solutions like refrigerator temperature monitoring, energy management tools, property monitoring, rodent monitoring and like. These services will help restaurants, real estate companies, grocery stores, pharmaceutical companies, agricultural industries and many more.
Opportunity for Independent Developers
The Sprint IoT Factory has two major sections — one for buyers and one for builders. The “Buyers” section is for customers needing readymade solutions and the “Builders” section is for independent developers keen to develop customized or new tools and sell them. More than 550,000 developers are working to constantly improve this platform with innovative ideas. With this new venture, Sprint will also create a platform for talented developers to come to the forefront and sell their own solutions.
Sprint Partners With Industry Giants to Drive the Platform
In order to optimally run Sprint IoT Factory, Sprint has partnered with myDevices, the IoT solutions company, and leading telecom service provider, Goldie Group. myDevices looks after the IoT aspect of the business by providing “IoT in a Box” services while the logistics and reverse logistics segment is run by Goldie Group. This strategic partnership will ensure that the online business runs smoothly and offers the best customer experience.
In the past three months, the stock has lost 5.5% on an average compared with a decline of 8% for the industry.
Zacks Rank and Stocks to Consider
Sprint currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the industry space are BlackBerry Limited (BB - Free Report) and TIM Participacoes S.A. (TSU - Free Report) each sporting a Zacks Rank #1 (Strong Buy), and Motorola Solutions, Inc. (MSI - Free Report) carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
BlackBerry has an expected long-term earnings growth rate of 18.6%.
TIM has an expected long-term earnings growth rate of 26.2%.
Motorola has an expected long-term earnings growth rate of 8%.
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