Cobra Electronics Continues to Gain Speed and Market Leadership with Cobra iRadar(TM)
Product Expansion, Industry Accolades, and Rapid Retail Expansion Highlight Accelerating Market Opportunities and User Adoption
CHICAGO - Cobra Electronics Corporation (NASDAQ: COBR), celebrating 50 years of innovation in 2011 as a leading designer and manufacturer of award-winning consumer and mobile electronics, today announced its Cobra iRadar(TM) Detection System continues to receive prestigious automotive and consumer electronics awards for design and innovation, while growing its retail channel significantly. Cobra iRadar marks an industry first for the radar detection industry, pioneering a new "smart in-car detection system" category.
Cobra iRadar is the industry's most advanced radar/laser/camera detection system, providing Cobra customers with personal safety, driving peace-of-mind, and near real-time safety information updates. The system uses Bluetooth® wireless technology to communicate between an advanced, windshield-mounted radar/laser detector and the Cobra iRadar app, which is currently available at no charge for Apple® iPhone, iPod Touch, and Android(TM) devices. When connected, the app displays radar/laser alerts, allows the user to control detector settings, and alerts the driver to upcoming red light photo enforcement locations.
Product Evolution:
o October 2010 - Cobra Electronics announced the initial release of Cobra iRadar for iPhone, marking an industry first for the radar detection industry and pioneering a new "smart in-car detection system" category,
o January 2011- At the 2011 International CES show, Cobra announced a series of enhancements to the platform, including social media-like crowdsourcing features that allow users to report road safety alerts, which are shared with the iRadar user community via cloud-based data services,
o March 2011 - During the International CTIA Wireless conference, Cobra Electronics announced the release of Cobra iRadar for Android smartphones, dramatically expanding the potential user base and market opportunity for this breakthrough driving safety and information system.
Awards & Industry Accolades:
Cobra iRadar continues to receive a number of the automotive and consumer electronics industries' most prestigious awards for design and innovation, including:
o November 2010 - New Product Showcase Award - Specialty Equipment Market Association (SEMA),
o November 2010 - Cobra iRadar received two SEMA Global Media Awards,
o January 2011 - Cobra iRadar received two CES Innovations Award honors from the Consumer Electronics Association (CEA),
o January 2011- The editors of Mac|Life Magazine, a leading independent magazine devoted to passionate Mac users, named Cobra iRadar the Most Innovative Product at the 2011 International CES show in Las Vegas.
Retail Channel Expansion:
Since its market introduction in Q4 2010, Cobra iRadar has experienced strong demand from some of the nation's leading retailers including Apple, Amazon, Best Buy, Crutchfield, Radio Shack, Sears, Walmart, and more. Cobra iRadar is currently available at approximately 45,000 points of distribution across the continental United States at leading retailers.
Cobra iRadar App User Community:
o Since its debut on the Apple App Store in October 2010, the Cobra iRadar App has been downloaded by over 70,000 iPhone and iPod Touch users.
o Cobra iRadar for Android was introduced on the Android Market on April 14, 2011 at market.android.com/, and is currently available for all Android devices.
"As we celebrate our 50th anniversary this year building on '50 Years of Innovation,' the market validation for Cobra iRadar, combined with positive achievements on all fronts, demonstrates the heritage and innovation of Cobra to deliver a category-defining product at the right time to a new smartphone-enabled marketplace," said Sally Washlow, senior vice president of marketing and sales for Cobra Electronics. "Our retail footprint continues to expand rapidly for Cobra iRadar, and the addition of national retail distribution with both Apple and Walmart gives us the caliber of geographic and demographic coverage this breakthrough innovation in automotive safety needs to further accelerate our product awareness and user adoption."
Pricing and availability:
Cobra iRadar for iPhone and Cobra iRadar for Android are currently available at traditional and online retailers nationwide for $129.95 MSRP. The Cobra iRadar app for iPhone is available at no charge via the Apple App Store, and the Cobra iRadar app for Android is available free of charge to Android users via the Android Market. To locate a retailer or learn more, visit www.cobrairadar.com.
About Cobra Electronics:
Cobra Electronics is a leading global designer and marketer of communication and navigation products, with a track record of delivering innovative and award-winning products. Building upon its leadership position in the GMRS/FRS two-way radio, radar detector and Citizens Band radio industries, Cobra identified new growth opportunities and has aggressively expanded into the marine market and has expanded its European operations. The Consumer Electronics Association, Forbes and Deloitte & Touche have all recognized Cobra for the company's innovation and industry leadership. To learn more about Cobra Electronics, please visit the Cobra site at www.cobra.com. Follow Cobra on Twitter at www.twitter.com/CobraElectronic and Like Us at http://www.facebook.com/CobraElectronics.
Media Contacts:
Stephen Drusano
Skyya Communications
(212) 969-1777
stephen.drusano@skyya.com
Chris Kooistra
Cobra Electronics
(773) 307-8386
ckooistra@cobra.com
SOURCE Cobra Electronics
Web Site: www.cobra.com
