IoT expands into UK and Europe with new Amazon agreement

IOT Group ASX Amazon ROVA AirSelfie drone
IOT Group's ROVA selfie drone.

IoT Group (ASX: IOT) has expanded its distribution scale after securing a deal with Amazon to distribute the products via its United Kingdom and Europe branches.

According to IoT, Amazon accounts for 27% of the UK online retail market and a 40% slice of Germany’s online market.

IoT has already processed its first orders for the region and will be making its first deliveries this week.

The online retailer IoT is known for its AirSelfie and ROVA products.

AirSelfie is a portable pocket-sized flying camera that can be integrated into a mobile phone cover. The device is controlled via an app from any smartphone. The AirSelfie eliminates the need for a selfie stick or someone holding a camera to take selfie pictures.

Meanwhile, the cheaper product ROVA is a larger flying drone which can take 12 mega pixel full high definition pictures and video with capacity to store up to 64GB of data. The ROVA works similar to the AirSelfie and is controlled via the ROVA app.

“Amazon, the largest and most aggressive online retailer in the world – IoT has now expanded its distribution network with Amazon in the United States, United Kingdom, Ireland, France, Italy and Germany,” IoT executive director Sean Neylon said.

He added that Amazon US had experienced high demand for IoT’s ROVA and AirSelfie products and has placed repeat orders.

The news follows IoT inking a distribution agreement with the world’s largest technology distributor Ingram Micro’s UK and European subsidiary Ingram Micro UK.

Parent company Ingram Micro has 119 distribution centres across the globe and sales offices or representatives in 37 countries.

IoT is also in discussions with Ingram to distribute via its US and South American markets.

“IoT is on plan to significantly grow its business over the next five years,” Mr Neylon said.

In early afternoon trade, IoT’s shares were unchanged at A$0.011 after an early morning 10% spike.

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