Overall we had a very positive and good showing at CEDIA. The product was well received. We had several hundred dealers stop in at our booth and show interest. We continue to follow up with the US dealers and open new accounts. We have already started to receive orders for the US dealers and in the process of fulfilling them.
We showed our entire Pro and Essentials lines. The Morpheus One was a clear favorite among the attendees. We received lots of positive comments about the feature set and the build quality. The feedback that surprised us a bit was the price point. We asked dealers about the price point of the Morpheus One and almost unanimously the dealers were positively happy about the competitive price point. This is good feedback for us because we now know that we can introduce new products that will give us higher margins. As a matter of fact we have already introduced the Morpheus One with a 4TB capacity instead of 2TB and the Morpheus Music with 2TB instead of 1TB.
We also showed our Micro 4K players and that received very positive feedback. The dealers were nicely surprised by the performance of such a small device and the very favorable dealer price for the unit. We are now accepting order for the Micro Players in packs of 5 for delivery in Mid October.
We also showed a beta of the Morpheus Capture, a unit with similar feature to the Morpheus One with a direct-to-NAS ingestion system. We also received positive feedback on this Beta Unit. We have scheduled it for production and delivery in the first quarter of next year.
We also learned quite a bit at the show. Due to our feedback we will start to develop a stronger music server offering and work harder on procuring content for our servers.
During the show we also met with several strategic partners that can help Innovo Technology extend it’s distribution network and we are currently in talks. We will send an update on those talks as they start bearing fruit.
CEDIA is also a hotbed for Latin America and the Asia Pacifica region. We signed two country distributors and currently in the process of negotiating contracts with other country distributors. We signed up and shipped out showroom units for distribution in New Zealand and Ecuador. We are currently in talks with distributors from Mexico, Columbia, Chile, Dominican Republic and Brazil. We will send out an update as distributors are signed up in these countries.
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