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SYNNEX (SNX) to Distribute Sonim's Scanners & Smartphone

Zacks Equity Research
·3 min read

SYNNEX Corporation SNX recently inked a major distribution deal with Sonim Technologies SONM. Per the terms of the deal, SYNNEX will distribute Sonim’s XP8 ultra-rugged smartphone, and RS60 and RS80 rugged SmartScanners across North America.

Sonim provides ultra-rugged mobile phones and accessories. It provides its solutions under the categories of ultra-rugged mobile phones based on the Android platform, which are capable of attaching to both public and private wireless networks; industrial-grade accessories and cloud-based software and application services. The company serves construction, energy and utility, hospitality, logistics, manufacturing, public sector and transportation sectors.

Sonim’s XP8 ultra-rugged smartphone features a 5-inch puncture-resistant glove and wet compatible touchscreen. According to SYNNEX, XP8 comes with “dedicated OneTouch PTT capabilities, IP-68, IP-69, MIL 810G, Non-Incendive Class I, II & III Div 2 ratings, and is backed by a 3-year comprehensive warranty.”

Sonim’s RS60 is a 6-inch handheld SmartScanner, while the RS80 is an 8-inch tablet SmartScanner. Both devices are based on Alphabet’s GOOGL Android mobile operating system platform and feature glove-friendly touch screens, water and dust resistance, high-capacity multi-shift batteries, and a variety of additional features, which maximize functionality and improve productivity on the job.

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Based in Fremont, CA, SYNNEX is a well-known business-to-business services provider that primarily focuses on technology and vertical markets to create next-gen solutions. These innovative solutions help boost the company’s go-to-market strategies, while paving the path for better growth opportunities that will support its business partners to thrive in the dynamic tech industry.

SYNNEX Corporation Price

SYNNEX Corporation Price
SYNNEX Corporation Price

SYNNEX Corporation price | SYNNEX Corporation Quote

Backed by premier partner programs and technical knowledge expertise, the company enhances their customer-engagement strategies to bolster business development. Notably, SYNNEX offers a plethora of value-added services, ranging from demand generation to IT resource planning, and caters to more than 20,000 resellers based in Japan, Canada and the United States.

SYNNEX is riding high on solid growth in product areas, such as PCs, networking and cloud plus software-related solutions, which is contributing to revenue acceleration of Technology Solutions business. From a customer standpoint, strength in SMB vertical is a tailwind.

Moreover, IT spending across the world is slowly recovering and projected to reach $3.9 trillion in 2021, increasing 6.2% from 2020, per Gartner’s newest forecast. This spells good news for SYNNEX and will help maintain its standing as a leading IT design-to-distribution business process services company.

Currently, SYNNEX carries a Zacks Rank #3 (Hold).

A better-ranked stock in the broader technology sector is Dropbox DBX. The stock currently carries a Zacks Rank #2 (Buy) and has an expected long-term earnings growth rate of 4.9%.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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SYNNEX Corporation (SNX) : Free Stock Analysis Report

Alphabet Inc. (GOOGL) : Free Stock Analysis Report

Dropbox, Inc. (DBX) : Free Stock Analysis Report

Sonim Technologies, Inc. (SONM) : Free Stock Analysis Report

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