QualityStocks would like to highlight GigaMedia Limited (NASDAQ: GIGM), a diversified provider of online games and cloud computing services. GigaMedia's online games business develops and operates a suite of games in Asia, with focus on Web-based/mobile games. The company's cloud computing business is focused on providing SMEs in Greater China with critical IT solutions that increase flexibility, efficiency and competitiveness.
In the company’s news,
GigaMedia previewed its new, self-developed GigaCloud platform at an event in Taipei. The company also demonstrated a host of new products at the event, which was attended by the media, industry professionals, and potential partners.
GigaCloud is an integrated platform of cloud-based tools and services for SMEs. The platform provides a simple and efficient way for SMEs to outsource their critical IT needs and upgrade their business with technology that provides such things as cost savings, productivity improvements, and flexibility.
Collin Hwang, GigaMedia Chief Executive Officer, said, “We are delighted to unveil our cloud offerings and begin educating the market on the benefits our services will provide. Many SMEs rely on legacy IT and communications systems and have no in-house IT support; they need flexible, mobile and affordable technology solutions that leverage the Web to improve their business, which is driving a global migration to new cloud solutions.”
“Our bundled solutions will allow SMEs to get their businesses online and collaborating faster, delivering significant productivity gains and dramatically lowering telecommunications costs,” continued CEO Collin Hwang.
Traditional communication systems can be extremely expensive, costing thousands of dollars to establish with varying monthly maintenance fees. By eliminating the need for complex hardware, length installation, and technical support, GigaCloud provides SMEs with the power of flexibility of advanced communication systems that are simple, affordable, and accessible both in the office as well as remotely.
GigaCloud will initially include the following bundle of services:
• Cloud-based PBX services that greatly lower telecom costs and increase quality and flexibility, including unlimited local and reduced rate domestic and international long distance service;
• Cloud storage for file and data editing and sharing anywhere, anytime;
• Cloud faxing with Web-based transmission and storage making faxing simple and mobile;
• Video surveillance, including a Web cam that will allow for off-site monitoring; and
• Cloud leasing, including leasing of cloud services and related hardware that will provide SMEs an affordable way to grow.
Currently, cloud services for SMEs in Taiwan and mainland China is a largely untapped opportunity and lags the US in adoption. With over one million SMEs in Taiwan, forecasts show that SMEs will drive strong growth of cloud services regionally.
To aid with market penetration, GigaMedia has formed a strategic partnership with Taiwan-based Chailease Holding Co. Ltd for product launch to capitalize on the firm’s large SME customer base. With approximately 42 percent market share, Chailease is Taiwan’s number one leasing company. Chailese serves approximately 15,000 SMEs in Greater China and offers a wide array of products, including financial services, leasing, and installment sales.
GigaMedia has already addressed plans to expand the scope and reach of its services going forward via the use of additional strategic channel and technology partnerships.
Launch of GigaCloud is slated for March 2013.
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