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Is Panasonic Targeting A Big Move Into Police Cameras?

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Is Panasonic Targeting A Big Move Into Police Cameras?

TASER International, Inc. (NASDAQ: TASR) shares have held up in post-market trade Monday afternoon despite a late-day report Panasonic could soon be shopping its police body cameras around the globe.

After-hours headlines from Nikkei showed Panasonic will be pushing for its body-worn cameras to be adopted by British police departments sometime during fiscal year 2016. Over the course of 2017, Panasonic is hoping to start selling the device on a world-wide basis, the Nikkei report said.

Panasonic is currently modeling to have security-camera sales of at least 100 billion yen by fiscal year 2018, according to the report.

While some investors in the space may view the report as an encroachment by a massive player into a niche-provider's space, others may consider Panasonic's move into the market as a reassurance of long-term value.

Shares of Taser had an incredible run over the last three years as its products started becoming more popular.

From early 2013 to the all-time high at $35.95 in June, the stock had more than tripled; since then, and to close out 2015, Taser shares have retraced to under the $17 level.

Posted-In: Long Ideas News Rumors Global Movers Tech Trading Ideas General Best of Benzinga

 

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