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Second Quarter 2021 Citi Residential Property Ownership Survey

Over half of respondents optimistic about home prices as pandemic situation improves, despite reduced interest in property ownership

HONG KONG SAR – Media OutReach – 29 July 2021 – Citi Hong Kong conducted a survey in June 2021 on residential property ownership in Q2 2021, examining the impact of the COVID-19 pandemic on local residents’ attitudes towards residential property ownership. According to the survey results:

  • With the COVID-19 pandemic being eased, Q2 2021 witnessed a significant recovery of confidence in the property market. Over half of the respondents believed that property prices would rise in the coming year. Only about 10% of respondents were pessimistic about the property market, a lower percentage compared with the previous quarter.
  • 14% of respondents expressed interest in property ownership, down from the previous quarter. Based on the survey results, it was projected that close to 500,000 people toured new home developments in May and June this year.
  • 7% of respondents considered it was a good time to buy a home in Q2 2021, a figure that remains higher than those recorded throughout the eight-year period between 2012 and 2019, before the COVID-19 outbreak.
  • Approximately half of the respondents mentioned they have higher levels of household income than expenditure, down from nearly 60% recorded in the previous quarter. With close to 40% of respondents who just managed to strike a balance between income and spending, the survey findings show a lower percentage of respondents with surplus funds.
  • With the improving pandemic situation, “zero local COVID-19 infections” were recorded for most of the days in Q2 2021, which helps boosting respondents’ confidence in rising property prices. However, there is a drop in the percentage of respondents expressing interest in purchasing a home, probably due to fewer respondents having surplus funds.

 

Over half of respondents expect a rise in property prices in the coming year; based on the survey findings, an estimated 500,000 people toured new home developments in May and June this year

 

According to the results of the Q2 2021 survey, 7% of respondents considered Q2 2021 a good/an excellent time to buy a home, a percentage similar to that of the previous quarter but higher than that recorded throughout 2012 to 2019, the eight-year period before the pandemic outbreak.

 

In Q2 2021, 14% of the respondents expressed interest in buying a home, a slightly lower figure compared with the previous quarter. Estimated based on the survey findings, about 495,000 people visited a show flat in May and June this year, up nearly 10% compared with the previous quarter. This shows that more people have gone house-hunting amid the gradually easing pandemic.

 

Indicating a continued recovery of confidence in the property prices in the coming year, 54% of respondents were optimistic about a rise in property prices, up from 33% in the previous quarter, while 35% of the respondents expected property prices to remain unchanged. The percentage of respondents holding bearish views on the property market also fell to 12% this quarter from 20% in the previous quarter, reflecting stronger confidence in rising property prices. This view was probably fueled by the significantly improving pandemic situation, as “zero local infections” were recorded on most of the days in June this year, when the survey was conducted. However, when respondents were asked about their household income and expenditure, approximately 50% of them mentioned having higher household income than expenses, down from the close to 60% recorded in the previous quarter. 36% of the respondents just managed to strike a balance between income and spending, compared with 14% who considered themselves to spend more than their household income. The survey findings reflect a lower percentage of respondents with surplus funds compared with the previous quarter. This is probably one of the reasons contributing to the reduced level of interest in purchasing a home.

 

If you do not own any property now, taking your current standard of living and family finances into consideration, do you think it is a good time to purchase a home now?

 

Percentage of Respondents

 

Q2 2020

Q3 2020

Q4 2020

Q1 2021

Q2 2021

A good/an excellent

time to purchase

11%

10%

8%

7%

7%

Neutral

35%

36%

39%

37%

38%

A bad/terrible

time to purchase

54%

54%

54%

56%

55%

 

How interested are you in purchasing a property now?

Percentage of Respondents

 

Q2 2020

Q3 2020

Q4 2020

Q1 2021

Q2 2021

Very/rather
interested

21%

17%

17%

17%

14%

Neutral

27%

28%

27% 

29%

28%

Very/rather
uninterested

52%

55%

56%

54%

58%

 

How do you think home prices will trend in the next 12 months?

 

Percentage of Respondents

 

Q2 2020

Q3 2020

Q4 2020

Q1 2021

Q2 2021

Upward

33%

23%

22%

33%

54%

Flat

34%

34%

43%

47%

35%

Downward

33%

43%

36%

20%

12%

 

“The survey results show a recovery of confidence in the property market in Q2 2021,” said Josephine Lee, Head of Retail Bank at Citi Hong Kong. “More than half of the respondents expected property prices to rise in the coming year, and the number of respondents who considered it a good time to buy a property in Q2 2021 has remained at a higher level compared with that seen before the pandemic outbreak. However, fewer respondents with surplus funds were recorded, which may explain the reduced level of interest in buying a property. Amid the continued improvement in the pandemic situation, the economy is expected to recover further. We recommend that interested homebuyers comprehensively assess their financial condition and seek an appropriate mortgage plan as part of the detailed planning necessary to fulfil their dream of home ownership.”

 

Citibank commissioned the University of Hong Kong Social Sciences Research Centre to conduct the survey, interviewing a random sample of more than 500 Hong Kong respondents by phone in June 2021. Since 2010, Citibank has been conducting quarterly surveys on the Hong Kong housing market to assess the current state of home ownership in the SAR, gauge public intentions towards home ownership, and track public expectations of future housing price trends.

Source: Citibank Q2 2021 Residential Property Ownership Survey

About Citi

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi

#Citi #Citibank

EV Dynamics Joins Forces with Quantron through a Share Swap to Form a New Electric Vehicle Powerhouse

HONG KONG SAR – Media OutReach – 29 July 2021 – Ev Dynamics (Holdings) Limited (the “Company”, formerly known as China Dynamics (Holdings) Limited; Stock Code: 476, together with its subsidiaries, collectively “Ev Dynamics” or the “Group”), which provides new energy vehicles and technology integrated solutions, has signed a share swap agreement with Quantron AG (“Quantron”), a Germany-based company engaging in inner city e-mobility and regional passenger and freight transport, in a bid to expand its global new energy vehicle production, engineering, marketing and sales, and after-sale service setup.

 

Pursuant to the agreement, Ev Dynamics has conditionally agreed to subscribe for 6,459 subscription shares of Quantron, representing approximately 10.18% of the enlarged share capital of the German company, at a consideration of EUR5,000,000 (equivalent to approximately HK$45,848,191). The consideration shall be satisfied by the Company via allotment and issuance of 254,712,175 consideration shares at HK$0.18 per share to Quantron.

 

The issue price of HK$0.18 represents a premium of approximately 44.00% to the closing price of HK$0.125 per share as quoted on The Stock Exchange of Hong Kong Limited on 28 July 2021, being the last trading day prior to the date of the agreement.

 

Upon completion of the deal, the Company will hold a total of 9,157 shares of Quantron, representing approximately 14.43% of the enlarged share capital of the German company.

Mr. Miguel Valldecabres Polop, CEO of Ev Dynamics (left) and Mr. Andreas Haller, member of the board and founder of Quantron (right) believe that the share swap is another milestone in the strategic growth of the two companies.

 

Mr. Miguel Valldecabres Polop, CEO of Ev Dynamics, said: “The share swap will enable both companies to speed up profitable growth and reap synergies from sharing technical knowhow and respective market coverage. With the favourable policies and market trend of electrification of passenger and freight transports, Quantron has continued to receive substantial purchase orders and service quotations from customers and source e-platform and e-vehicle components from the Group to meet customer demand. The transaction will allow us to leverage the business network and experience of Quantron in Europe, giving us a good opportunity to expand into the light and medium e-delivery trucks market in Europe. Ev Dynamics will become one of the production plants for Quantron.”

 

Mr. Andreas Haller, member of the board and founder of Quantron, said: “Quantron and Ev Dynamics will jointly develop zero-emission electric vehicles, hydrogen bus and logistic vehicles. The products and services will be designed and engineered by Quantron, which is well developed in Germany and Europe, where Ev Dynamics will manufacture the vehicles. The two companies will evaluate strategic partnerships with fuel cell technology companies. We believe the share swap is another milestone in the strategic growth of the two companies.”

 

Mr. Michael Perschke, international advisor of EV Dynamics, added: “Quantron is a dominant player in the European electric vehicle market and Ev Dynamics is a prominent player in China’s new energy commercial vehicle sector. By joining forces, both companies will gain access not only to new markets but also additional engineering capabilities.”

About Ev Dynamics (Holdings) Limited (Stock Code: 476)

Ev Dynamics (Holdings) Limited is a pioneer and a prominent player in China’s new energy commercial vehicles market, as well as a whole-vehicle manufacturer of specialty passenger vehicles and new energy passenger vehicles. It is an integrated driving and logistics solutions provider with a solid technological foundation in diverse areas including new energy platform power system and its key components. The Group has production base in Chongqing and it has developed its sales network in Mainland China, Hong Kong, Asia Pacific and South America.

#EvDynamics

About Quantron AG

Quantron AG is a system provider of clean battery and hydrogen-powered e-mobility for commercial vehicles such as trucks, buses and vans. In addition to new electric vehicles, the wide range of services offered by the innovation forge includes the electrification of used and existing vehicles, the creation of individual overall concepts including the appropriate charging infrastructure as well as rental, financing and leasing offers and driver training. Quantron AG also sells batteries and integrated customised electrification concepts to manufacturers of commercial vehicles, machinery and intralogistics vehicles. The German company from Augsburg in Bavaria is a pioneer and innovation driver for e-mobility in passenger, transport and freight traffic.

Mobile Esports Takes Off Across Southeast Asia

Tencent, Newzoo white paper highlights new business models, career opportunities

PHNOM PENH, CAMBODIA / MANILA, PHILIPPINES / HANOI, VIETNAM – Media OutReach – 29 July 2021 – Esports is taking off across Southeast Asia, leading to the emergence of innovative business models and new career opportunities in the region, according to a white paper co-developed by Tencent, the world leading internet company, and Newzoo, the leading provider of games and esports data and insights.

PUBG Mobile

According to the data from Newzoo, the compound annual growth rate (CAGR) for esports revenue in Southeast Asia is forecast at +20.8% from 2019 to 2024 and should reach US$72.5 million in 2024. The growth rate is nearly double the global CAGR of +11.1% for the sector.  

Games & Esports KV

 

The white paper, titled Games & Esports: Bona Fide Sports, also noted that, unlike the developed economies of North America and Western Europe, where esports has grown from a more-sophisticated IT infrastructure, Southeast Asia’s growth is fueled by a more-affordable mobile-first gaming preference. A 2021 consumer insight study conducted by Newzoo with respondents from Southeast Asia showed that a whopping 82% of the total online population in the region plays mobile games. Meanwhile, 39% of respondents are mobile-first gamers, spending the most time playing mobile games.

James Yang – Director of PUBG MOBILE, Global Esports, Tencent Games

 

At an industry roundtable hosted by Tencent and Newzoo, esports sector panelists agreed that the region will benefit from ongoing trends and developments in the games industry.

 

“We are seeing the rise of esports from being played via traditional PCs and consoles to mobile esports, and this is influenced by new developments in improved mobile hardware, cloud gaming and 5G networks,” said James Yang, Director of PUBG MOBILE Global Esports, Tencent Games.

 

Esports as an economic multiplier

Other panelists including game developer and publisher, Riot Games; one of the top esports organization in Indonesia, Bigetron Esports; Vietnam’s Recreation and eSports Association (VIRESA) as well as a member from Malaysia’s Asia Pacific University of Technology & Innovation (APU) described Southeast Asia as a dynamic region. Esports is having a positive economic impact there, with the emergence of creative business models and new career opportunities within the esports ecosystem.

 

“Esports is fast-growing and becoming an integral part of the local games market. By the end of 2021, it is expected that Southeast Asia will hit 42.5 million esports audiences. Newer esports organizations will be founded, tournament organizers will enter the market, including broadcast companies and specialized marketing agencies,” said Hugo Tristão, Head of Esports at Newzoo.

 

The widespread interest among the public about esports has also changed how content will be shared and consumed. For instance, the shift from publisher-owned tournament broadcasts to “watch parties” led by influencers will disrupt how media rights are awarded. This will also have a spillover effect in terms of how sponsorship marketing for esports evolves.

 

Positive momentum

Additionally, the growth of esports in Southeast Asia has spawned new career opportunities. Apart from players turning their passion into a professional career, there are now completely new jobs and job categories, including content creators, social media influencers, “shoutcasters”, managers and coaches thrown into the fray. Larger esports organizations even have a back office to support essential business operations, such as marketing and finance.

 

Esports is also gaining credibility and acknowledgement in academic circles. In Malaysia, the Asia Pacific University of Technology & Innovation (APU) offers skills-based esports certification programs. In Indonesia, esports is also shaping up as a viable professional career path for talent.

 

The inclusion of esports as a medal sport in the recent SEA Games 2019 underscores the significance and appeal of this industry in Southeast Asia. Mobile esports, especially, will experience significant growth in the coming years, supported by technological advancements, strategic investments aimed at sustaining the ecosystem and increased recognition as a real sport with talents, skills, competition, and entertainment.

 

The impact of the pandemic

Despite the ongoing pandemic, the esports industry in Southeast Asia has taken challenges in stride. Service providers, developers, publishers and event organizers have responded by investing in technologies to enhance gameplay and the competition environment for fair play, as well as online tournament experience for fans watching online.

 

Throughout 2020, PUBG MOBILE competitions racked up more than 200 million hours in viewership. Tencent’s Yang noted that more people watch gameplay and esports tournaments online, even if some of them do not play the game. He said he expects the new user fan base gained during the pandemic to be sustained when people return to their new normal routine. And roundtable participants said they believe hybrid events, which with both online and offline components, will likely become more common after the pandemic.

 

The white paper concluded that Southeast Asia’s uniquely mobile-first gaming preference means sector growth is poised to continue in the years to come, and mobile esports will be the mainstay of gaming in this region.

 

“Esports is a significant trend that few can ignore, and stakeholders from within the industry and outside of it will benefit by coming together to further develop and enhance the ecosystem. It’s no doubt a catalyst that will spur the growth of various relevant industries with innovations in the region and across the world,” said Yang.

 

The industry white paper is available for free download on https://tencent.blog/sea-esports

 

APPENDIX: Key Takeaways from the White Paper

 

1.  Covid-19 Pivots Shift in Game-Viewing Behavior

The Covid-19 pandemic has accelerated esports viewership and pushed all service providers, developers, publishers and event organizers in the esports industry to up their games and invest in technologies to enhance gameplay, competition environment, as well as online tournament experiences for fans watching online. It is expected that most of the additional engagements arising from this period will stick after the pandemic, and hybrid events will become more common.

 

2.  Southeast Asia’s First Screen – A “Mobile-First” Region

Younger population influences the shift to a ‘mobile first’ mentality where the region’s increasing online population and high smartphone penetration contribute significantly to the growth of mobile esports. As infrastructure and internet connectivity continue to improve, it will play a part to enable the growing gaming ecosystem in the region.

 

3.  Mobile Esports Contributes to Social and Economic Benefits

Esports is going mainstream in Southeast Asia with fast-rising recognition in recent years. In this digital era, esports provides opportunities for corporate sponsors to target demographics that may be difficult to reach through the traditional marketing channels. All said, the potential of the industry is tremendous. It is fast shaping up as a viable career path where talents train to be professional esports players while concurrently pursuing academic studies. Esports education is no longer conceptual, and proper accreditation for esports education is now being offered. Supportive policies from governments in the region will continue to provide the impetus for future growth.    

 

4.  Esports Offers Equal Access to Everyone

Esports is a more inclusive and diverse activity intent on offering equal opportunity to everyone pursuing a career in the sector. In addition to the economic benefits, a thriving esports industry also contributes toward the betterment of the society by uniting people from different backgrounds socially and demographically – society and social status, gender, race, age and physical ability. 

About Tencent

Tencent is a world-leading internet and technology company that develops innovative products and services to improve the quality of life of people around the world.

Founded in 1998 with its headquarters in Shenzhen, China, Tencent’s guiding principle is to use technology for good. Our communication and social services connect more than one billion people around the world, helping them to keep in touch with friends and family, access transportation, pay for daily necessities, and even be entertained.

Tencent also publishes some of the world’s most popular video games and other high-quality digital content, enriching interactive entertainment experiences for people around the globe.

Tencent also offers a range of services such as cloud computing, advertising, FinTech, and other enterprise services to support our clients’ digital transformation and business growth.

Tencent has been listed on the Stock Exchange of Hong Kong since 2004.

#Tencent

About Newzoo

Newzoo is the world’s leading provider of games and esports data and insights. With over a decade of market expertise, Newzoo is proud to help some of the most successful entertainment, technology, and media companies around the world, such as EA, Bloomberg, PepsiCo, Vodafone, target their audience, track competitors, increase brand awareness, spot opportunities, and make strategic and financial decisions. Newzoo’s product portfolio includes the Global Games and Global Esports & Live Streaming Market Reports, proprietary Consumer Insights profiling consumer behavior and preferences in 33 key markets across the globe, Newzoo Pro, Expert, and Consulting. For any questions, get in touch at press@newzoo.com.

#Newzoo

OctaFX Celebrates Ten Years in Business

KUALA LUMPUR, MALAYSIA – Media OutReach – 29 July 2021 – In 2021, global broker OctaFX celebrates its tenth anniversary. There is no denying that this Forex player is already a seasoned veteran and industry leader in many regions, successfully competing with both local and global companies.

 

Such a milestone in a company’s life is an excellent occasion to look back on its key achievements, so that’s what OctaFX has done, presenting us their ten significant results for ten years of operation. 

 

Here is what has been shared with the public:

  • 7.5 million Forex trading accounts opened;
  • 230,000 Trade and Win gifts delivered;
  • over 520,000 followers on social media
  • 43 Forex industry awards received
  • over 100 countries with happy OctaFX clients
  • 500 million trades executed on the platform since the beginning
  • more than 40 charity initiatives launched within Corporate Social Responsibility Strategy
  • 5,500,000 clients’ questions answered in person
  • 1,300 educational webinars on Finance, Investment, and Forex
  • more than 4,600 active IB partners from all over the world.

 

These numbers show not only the broker’s success but also the impact of its diversified activities on local communities, especially within the social dimension.

 

In the foreseeable future, we can expect the expansion of the global broker’s activities in many directions both on global and regional levels. 

 

OctaFX is a global broker that provides online trading services worldwide since 2011. It offers a state-of-the-art trading experience to over 7 million trading accounts globally. OctaFX has won more than 40 awards since its foundation, including the ‘Best ECN Broker 2020’ award from World Finance and more recently the 2021 ‘Best Forex Broker Asia’ award and the 2020 ‘Most Transparent Broker’ award from Global Banking & Finance Review and Forex Awards, respectively. The company is well-known for its social and charity activities.

 

#OctaFX

7-Eleven pledges to give 1,000 7-SELECT chicken legs every week for 40 consecutive weeks to help those in need in Hong Kong

HONG KONG SAR – Media OutReach – 29 July 2021 – 7-Eleven has played an integral part in the daily lives of Hongkongers for 40 years. It launched its first store in Hong Kong back in 1981 and recently opened its 1000th store, four decades later, on Des Voeux Road in Central. A true neighbourhood brand, 7-Eleven has always been committed to giving back to the community it operates in. 7-Eleven has pledged to donate 1,000 7-SELECT chicken legs every week for 40 consecutive weeks. As a result, a grand total of 40,000 chicken legs will be distributed to those in need in partnership with Food Angel, a local NGO.

The 7-Eleven You + Me Volunteer Team distributes 7-SELECT Chicken Legs in person to the elderly


40,000 Chicken Legs to show love and care to over 10,000 recipients

At the height of the pandemic last year, 7-Eleven initiated several activities to help those most impacted by the outbreak. It donated and delivered 70,000 food items to local neighbourhoods and launched the Charity Meal Voucher Programme, which raised over 550,000 vouchers to provide hot meals to disadvantaged people and low-income families. Although the pandemic situation in Hong Kong is starting to stabilise this year, 7-Eleven remains committed to showing care and support to the most vulnerable in society as it marks its 40-year anniversary. A total of 40,000 Chicken Legs will be donated and distributed over a period of 40 weeks in partnership with Food Angel.

 

The donations will be delivered to recipients via Food Angel’s Community Centre, Community Food Assistance Service and Automated Food Dispenser Service – an innovative initiative that allows for the flexible collection of chilled meals. Food Angel will also distribute the donations across its 180 charity partners. The donation programme is expected to help over 10,000 recipients including the elderly, low-income families, people recovering from mental health problems, cage home residents and disabled people.

 

#7-Eleven

United States Provides USD 700,000 to Support Malaria Elimination in Laos

US provides funds to combat Malaria

The United States is providing funds through a grant to support malaria elimination in Laos.

RGE and Bank of Communications Jiangsu Branch Sign Agreement on First Foreign-owned Carbon Asset Custody in China

NANJING, CHINA – Media OutReach – 29 July 2021 – Royal Golden Eagle (RGE) and Bank of Communications (BCM) Jiangsu Branch have entered into the Cooperation Agreement on Carbon Emission Trading Funds Custody in Nanjing.

Made three days after the launch of China’s national carbon emission trading market, the agreement is China’s first carbon asset custody business between a financial institution and a multinational corporation. The agreement will bring into full play the role of carbon emission trading as a bridge and engine between financial capital and the real economy.

 

The agreement is a strategic move by RGE in partnering the banking sector to facilitate China’s efforts to achieve carbon peak by 2030 and carbon neutrality by 2060. Under the agreement, RGE will open a dedicated account for carbon emission trading settlement with BCM to handle all its carbon emission transactions in China. The account will be under the supervision and custody of BCM.

 

At the signing ceremony, Lin Bo, a top official of the Party Committee of BCM Jiangsu Branch, said that BCM remains committed to promoting the development of real economy through financial innovation. The custody agreement will further deepen the business relationship between both parties in fixed asset loans, cross-border supply chain financing and green finance. Moving forward, BCM will continue to leverage its advantages in international and integrated operations to enhance business support for RGE.

Since its entry into China, RGE has been focused on sustainable development and announced a target 30% reduction in carbon emissions in China by 2030, said Shu Langen, Vice President of RGE China. The cooperation will enable RGE to increase carbon asset management efficiency and achieve its emission reduction target. This marks a new strategic move by RGE to actively participate in carbon emission trading and help bolster China’s carbon peak and neutrality goals.

 

Since its entry into China in the 1990s, RGE has invested over RMB 60 billion (USD 9.3 billion) in Beijing, Shandong, Jiangsu, Shanghai, Chongqing, Jiangxi, Fujian, Guangdong, and other provinces and cities. Its business groups Sateri (Fujian) Fiber Co., Ltd., Asia Symbol (Guangdong) Paper Co., Ltd., and East Asia Power (Xiamen) CCGT Power Plant have for many years been involved in the pilot carbon market of their respective provinces. Founded by Sukanto Tanoto, RGE manages a global group of companies in resource manufacturing.

 

Presently, the operations of Sateri, Asia Symbol, and Pacific Oil & Gas (PO&G) are included in the national carbon market. For instance, all of Sateri operations have completed carbon emission verification work and will participate in the national carbon market. Sateri established a carbon management committee to promote energy efficiency, while carbon emission rates have since continued to record declines every year. Sateri remains on track to achieve 30% carbon emission reduction by 2030 and net zero emissions by 2050.

 

Industry experts have suggested that the signing of the cooperation agreement, following the launch of China’s national carbon emission trading market, and the offer of professional custody services by commercial banks can guide companies to play an exemplary role in carrying out carbon emission trading compliantly and efficiently, spurring the improvement of the national carbon market.

About RGE

RGE Pte Ltd manages a group of resource-based manufacturing companies with global operations. Our work ranges from the upstream, comprising sustainable resource development and harvesting, to downstream, where our companies create diverse value-added products for the global market. Our commitment to sustainable development underpins our operations, as we strive towards what is good for the community, good for the country, good for climate, good for customer, and good for company.

RGE was founded in 1973. The assets held by RGE companies today exceed US$20 billion. With more than 60,000 employees, we have operations in Indonesia, China, Brazil, Spain and Canada and continue to expand to engage newer markets and communities.

www.rgei.com

#RGE

Arlo Announces All New Unlimited Camera Plans, Simplifying Monitoring and Providing Added Value

Simplified Plans Include Enhancements to AI-Powered Notifications, And Ability to Add Additional Cameras at No Extra Cost

SINGAPORE – Media OutReach – 29 July 2021 – Arlo Technologies, Inc. (NYSE: ARLO), a leading smart home security brand, today announced its new AI-based subscription service plans with the introduction of Arlo Secure. The premium services boast support for unlimited household cameras with no additional cost per camera. This coupled with advanced AI object detection, smarter, more interactive notifications enable Arlo users to take quick action and maximise their security.

 

“The unveil of the Arlo Secure represent Arlo’s commitment to customer feedback and delivering complete peace of mind,” says Brad Little, Vice President & Managing Director – APAC. “Our users wanted easy-to-understand subscription options to help them protect their homes without calculating monthly subscription costs per camera, and we listened.”

 

Arlo Secure plans start at SGD $13.99 a month to support unlimited cameras in the home, with the option to service a singular camera for just SGD $4.49 a month.

Features of the Arlo Secure subscriptions include:

  • Unlimited Cameras – Users can enjoy Arlo Secure service for all cameras in their home with one all-encompassing plan. Add new Arlo cameras for no additional charge.
  • 2K (Arlo Secure) and 4K (Arlo Secure Plus on compatible 4K cameras) Cloud-based Video Recording – Customers can view 30 days of recordings on the secure Arlo cloud in their camera’s highest video resolution anytime on their phone, Amazon or Google smart display device.
  • Smart Interactive Notifications – Users can take quicker action by responding to rich notifications or viewing an animated preview of a notification video through the lock screen on their smartphone.
  • Advanced Object Detection – Visual artificial intelligence allows for better detection and differentiation of people, packages, vehicles and animals.
  • Smoke and CO Alarm Detection – Get notified when the camera hears a smoke or CO alarm triggered.
  • Cloud-based Activity Zones – Users can reduce unwanted notifications by highlighting areas on the property where they want motion to be detected.
  • Call a Friend – Customers can instantly call a friend through the Arlo App from their notification screen with one tap.
  • 24/7 Premium Support – Connect with Arlo’s technical support team whenever needed via phone, chat, or through the support center.

Starting July 22, Arlo hardware purchases will ship with a three-month free trial of Arlo Secure features.[1] For more information on the full range of Arlo smart home security products and services, visit http://www.arlo.com/asia.



[1] Beginning July 21, 2021, Arlo Smart subscription plans will no longer be available for purchase. Instead, Arlo Secure plans will be available to Arlo customers.


About Arlo Technologies, Inc.

Arlo is the award-winning, industry leader that is transforming the way people experience the connected lifestyle. Arlo’s deep expertise in product design, wireless connectivity, cloud infrastructure and cutting-edge AI capabilities focuses on delivering a seamless, smart home experience for Arlo users that is easy to setup and interact with every day. The company’s cloud-based platform provides users with visibility, insight and a powerful means to help protect and connect in real-time with the people and things that matter most, from any location with a Wi-Fi or a cellular connection. To date, Arlo has launched several categories of award-winning smart connected devices, including wire-free smart Wi-Fi and LTE-enabled security cameras, audio and video doorbells, and a floodlight.

With a mission to bring users peace of mind, Arlo is as passionate about protecting user privacy as it is about safeguarding homes and families. Arlo is committed to supporting industry standards for data protection designed to keep users’ personal information private and in their control. Arlo does not monetize personal data. Arlo provides enhanced controls for user data, supports privacy legislation, keeps user data safely secure, and puts security at the forefront of company culture

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. The words “anticipate,” “expect,” “believe,” “will,” “may,” “should,” “estimate,” “project,” “outlook,” “forecast” or other similar words are used to identify such forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. The forward-looking statements represent Arlo Technologies, Inc.’s expectations or beliefs concerning future events based on information available at the time such statements were made and include statements regarding Arlo cameras, Arlo video doorbells, Arlo Secure and future Arlo products. These statements are based on management’s current expectations and are subject to certain risks and uncertainties, including the following: future demand for the Company’s products may be lower than anticipated; consumers may choose not to adopt the Company’s new product offerings or adopt competing products; and product performance may be adversely affected by real world operating conditions. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Further information on potential risk factors that could affect Arlo and its business are detailed in the Company’s periodic filings with the Securities and Exchange Commission, including, but not limited to, those risk factors described in the Company’s Annual Report on Form 10-K for the year ending December 31, 2020. Given these circumstances, you should not place undue reliance on these forward-looking statements. Arlo undertakes no obligation to release publicly any revisions to any forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

#Arlo