Expects to Deliver over 200 Systems During Calendar Year 2018
xG Technology, Inc. (“xG” or the “Company”) (Nasdaq: XGTI, XGTIW), a leading provider of wireless video solutions to broadcast, law enforcement and defense markets, and private mobile broadband networks for critical communications, announced that its IMT Vislink business unit has shipped 50 HCAM 4K UHD units during Q1 2018. The Company expects to deliver over 200 HCAM systems over the course of 2018.
“I am pleased to report that the issues that prevented us from delivering HCAMs in Q4 2017 have been rectified, and the backordered systems began shipping in Q1 2018,” said George Schmitt, CEO and Board Chairman of xG Technology. “We are confident that these represent the first volume worldwide commercial shipments of 4K systems in the industry. Delivery of the balance of the backordered systems will be complete by the end of Q2, and we expect to average at least 50 units per quarter for the balance of the year. It is likely we will exceed those numbers, as we have orders and preorders for 200 units in hand now.”
Mr. Schmitt continued, “We are extremely proud of the work done by our engineering and production personnel, given the substantial complexity and sophistication of these systems. In fact, according to Rob Williamson, one of the hardware engineers in our IMT Vislink unit, ‘The board is not only a major technical achievement. It’s also a work of art.’”
Mr. Schmitt concluded, “Having successfully begun delivery of the HCAM systems reaffirms our leadership in developing, productizing and deploying wireless broadcast technology innovations. The IMT Vislink HCAM represents the product segment leader in terms of performance and features and, based on what we know, we will have the smallest, lightest weight and lowest power consumption system in the market. We will continue to keep the market informed on the progress we make in supplying HCAM systems to the market.”
HCAM systems will be on display in IMT Vislink’s booth (Booth C6008) at NAB 2018 in Las Vegas from April 9-12, 2018.