First RoadSnoop product of Nokian Tyres to be launched
NOKIAN TYRES PLC Stock Exchange Bulletin 18 October 2001 10 a.m.
FIRST ROADSNOOP PRODUCT OF NOKIAN TYRES TO BE LAUNCHED
Nokian Tyres is preparing to introduce a first-generation RoadSnoop product onto the market. The RoadSnoop pressure watch monitors tyre pressure as well as temperature, and uses radio waves to alert the driver on a small receiver if tyre pressure falls too low. The product is targeted primarily at aftermarkets and deliveries are scheduled to begin in March 2002.
The RoadSnoop pressure watch will be sold by Nokian Tyres' own tyre chain as well as by sales companies and importers in Europe, North America, Russia and Japan. The consumer price of the product is estimated to fall in the range of EUR 250-300. In the future, RoadSnoop products can also be manufactured under customers' private brand labels.
The products will be manufactured by electronics contract manufacturer Flextronics International.
Nokian Tyres estimates that some 300,000 systems for tyre pressure measurement will be sold in the aftermarkets sector in 2002.
"Our goal is to gain market leadership in aftermarkets. We have every chance of doing this thanks to an efficient distribution network, rapid market entry and a product that interests consumers", says Tomi Lundell, director of the Nokian Tyres Roadsnoop unit.
The objective is that Roadsnoop Ltd, the Nokian Tyres subsidiary in charge of developing and commercialising intelligent tyre technology, will achieve zero result in 2002 with results and cash flow turning positive from 2003 onwards.
The wireless RoadSnoop pressure watch is straightforward and easy to use. As opposed to other tyre pressure monitoring systems, RoadSnoop is battery-powered. The system does not require a fixed installation within the car, and the pressure control system is installed in connection with tyre change at tyre retailers. As soon as the car starts up, the control system begins operating and will alert the driver with a signal and warning light in case pressures fall under recommended values. The alert receiver, a small monitor weighing approximately 40 grams, should be positioned so that the driver can see and hear it when driving.
Nokian Tyres has also developed a pressure monitoring system based on Bluetooth technology. RoadSnoop's first Bluetooth products will be introduced as Bluetooth-enabled receivers become more common.
Nokian Tyres plc
Vice President, Public Information
For further information, please contact: Tomi Lundell, director, Roadsnoop Ltd, tel. +358 3 340 7762
Product information: www.roadsnoop.com (from 22.10.2001)
Distribution: HEX and major media