I still think it's a bit early bit for eSIM. I think similar to last year, its just in the presentation to let investors know that they are preparing for it.
X2 did launch, I believe it was just a marketing ploy to boost referrals, or possibly to satisfy the new Brazilian distributor that were previously selling ChatSIM.
They hassled me extensively when my plan expired, but I also noticed on a recent update, that you had to opt in to receive notifications, so perhaps that could be the issue. Either way, I'm not so sure their marketing is particularly sophisticated.
The data loss seems weird. I never checked to see if I was being docked the 10MB/hour when I was using it, but it would seem very unusual that data was being consumed whilst X wasn't activated? I'd assume you don't really care given you had 2GB remaining when your plan expired. As data volumes increases and price decrease this will be less of an issue.
What frustrated me with the update (aside from the usual grammatical errors) was the lack of anything meaningful (or consistent with previous presentations).
Subsequent to the last update, they have been queried by the ASX regarding cash flow and a possible CR and then signed 3 fairly substantial distribution deals and all they can come up with is we have 50,000 subscribers, and that last month Local Data Plans grew substantially off a very low base. Seriously?!
As with most ASX listed entities you just have to assume no news is bad news. I suspect that the success of the Local Plans is now cannibalising the higher priced Global Plans, and that X2 won't be revisited unless they land a sponsorship deal.
With the above said, downloads are tracking very well according to AppAnnie, and I have noticed they are putting forward a lot more discounts similar to before Xmas, and I suspect that many travellers in the northern hemisphere will be taking these up.
FRX Price at posting:
7.1¢ Sentiment: Buy Disclosure: Held
