Business Overview
About Xplora Technologies
Xplora Technologies was founded to provide children with a safe introduction to digital life while promoting a healthy balance between screen time and physical activity. Its diverse portfolio of connected products and services helps families stay connected and empowers children to turn everyday activities into positive global change.
Key Highlights:
- Global Presence: Offices in Norway, Sweden, Finland, Denmark, UK, Germany, Spain, and the US, with plans for further expansion.
- Industry Innovations: Launched the world’s first eSIM product for children (August 2020) and a patent-pending activity platform converting steps into rewards.
- Headquarters and Team: Based in Oslo, Norway, with 90 employees (as of 2021).
- Stock Market Listing: Shares traded on Euronext Growth under the ticker symbol XPLRA.
Strategy and Vision
Scaling Market Reach
Over the next two years, Xplora aims to sell 1.5 million smartwatches, achieving a 3% hardware penetration in target markets and a 1% share of the projected global market volume. This ambitious goal is supported by three key drivers:
- Strategic Telecom Partnerships: Strong collaborations with major telecommunication companies.
- Proven Market Expertise: Successful operations in the Nordics and insights from high-performing Asian markets.
- Favorable Competitive Position: A unique value proposition and an untapped market opportunity.
Telecom Partnerships
Telecommunication companies benefit from marketing smartphones for children, tapping into an underpenetrated market and reducing churn via family plans. Xplora has strong partnerships with major players like Vodafone, Deutsche Telekom, and Orange, offering vast reach in Europe, Asia-Pacific, and the Americas. The company aims to expand these agreements further.
Market Penetration Growth
Initial evidence from Asian markets indicated 8-12% smartwatch penetration for kids within 2-3 years. In Norway, Xplora has achieved 11% penetration after nearly three years, securing a market-leading position. Since entering Sweden in January 2020, Xplora has surpassed 1% penetration, mirroring Norway's growth trajectory. Although slower to reach 1% in Germany, the company now anticipates similar growth patterns to its Nordic success.
Competitive Edge
The kids’ wearables market is competitive, with rivals offering similar devices or smartphone services. However, Xplora stands out with unique value-added services, connectivity through its proprietary platform, and engaging content developed with partners. Its strong time-to-market advantage reinforces its position in this emerging market.
