In an attempt to prevent the online threats to consumer mobile devices, Comcast Corporation (CMCSA - Free Report) has launched an application known as Constant Guard Mobile, which can be downloaded in smartphones and tablets. Comcast became the first Internet service provider in the US to offer an online security solution for wireless devices.
Constant Guard Mobile protects subscribers from phishing attempt, which is a fraudulent effort to attain private information and identity theft. Additionally, the application provides information about the safety of using a particular website and is available to Xfinity Internet customers at no additional charges.
Apple Inc.’s (AAPL - Free Report) iPhone customers can also download the application in their devices from Apple’s iTunes stores. A new version of the security application is expected to be launched in the coming months, which will be compatible with Google Inc.’s Android platform.
An unprecedented adaptation of smartphones has increased the use of mobile Internet. Apart from checking out social sites and emails people have stared using their phones for online banking and shopping purposes.
However, the growing usage of mobile Internet has resulted in increased rate of cybercrime and theft. According to the security solution leader Symantec Corporation (SYMC - Free Report) , the frequency of mobile threats have doubled between 2010 and 2011 with almost 35% of online adults have lost their mobile phones. Thus, the demand for mobile security application has seen an upward trend recently.
The most significant feature of this application is that it securely fills in the login passwords for banks, social sites and email accounts and has the ability to add additional financial and non financial accounts for secure access. Additionally, Comcast has developed a desktop version of Constant Guard, which prevents screen logging — an emerging cybercrime that uses customer webcam to take pictures of the computer screen containing private data.
Research firm IDC expects double-digit smartphone growth till 2016 along with an increase in mobile enterprise security market to $2,490 million in 2016 from $682 million in 2011. We believe that with so many unique features and a wide market opportunity this latest application provides a new revenue stream for Comcast.
Currently, Comcast Corporation carries a Zacks Rank #3 (Hold).