SPYR (OTCQB:SPYR), doing business as SPYR Technologies, has announced that its Applied Magix Inc subsidiary is considering developing software for non-branded smart products in order to improve and enhance the user experience (UX).
The Texas-based technology company said the software would enhance available products without the burden of new hardware development.
“In our research into viable products to manufacture or carry, we have come across a number of manufacturers in China, with well-engineered, often excellent hardware, yet abysmally poor software,” Applied Magix CEO Harald Zink said in a statement.
READ: SPYR says Applied Magix Inc subsidiary may begin selling Apple HomeKit-compatible smart-home LED lighting
“By selecting well-engineered products, and re-engineering a better software product to accompany it, we hope to gain the best of both worlds - low development costs (as we don’t have to develop new hardware) and additions to our product line in the form of both the software product, as well as reselling the hardware product with minimal overhead,” Zink added.
SPYR Technologies CEO Tim Matula also commented, stating: “The ability to look at a problem, and come up with a solution that saves money, while being able to generate profits is what these guys are good at. Can’t wait to see what products they are looking at.”
SPYR noted that Applied Magix doesn’t discuss future products or services.
SPYR is a technology company that through its subsidiary Applied Magix develops and resells Apple ecosystem-compatible products with an emphasis on the growing multibillion-dollar IoT (Internet of Things) smart home and connected car markets.
The company said it continues to identify and target acquisitions that will grow its footprint in the industry and expand the products it offers consumers, including companies developing artificial intelligence (AI) and smart technology products.
Contact Sean at sean@proactiveinvestors.com