Ostin Technology Group Announces Huge Success for Pintura Indiegogo Crowdfunding Campaign, Encourages Sales of Pintura Products on Chinese E-Commerce Platforms

Ostin Technology Group announced that its subsidiary, Pintura.Life, has had significant success with its Indiegogo crowdfunding campaign, raising nearly $100,000 in two months, reflecting strong consumer interest in Pintura’s innovative digital photo frames that integrate multiple screens and cloud-based photo albums.

In China, Pintura products performed well during June’s “618” shopping event, ranking among the top six best-selling digital photo frames on Tmall and JD.com. The company has formed partnerships with offline distributors to build a nationwide network.

The digital photo frame market is expected to grow from $72 million in 2024 to $115.1 million by 2034, driven by technological advancements. Ostin plans to expand Pintura’s reach to more e-commerce platforms worldwide and penetrate additional markets, predicting revenue growth in the second half of 2024.

Positive

Pintura’s Indiegogo campaign raised nearly $100,000 in two months, demonstrating strong consumer interest.

Pintura was among the top six best-selling digital photo frames on Tmall and JD.com during the “618” shopping event.

Cooperation with offline distributors has been established to establish a nationwide network in China.

The global digital photo frame market is expected to grow significantly and reach USD 115.1 million by 2034, at a compound annual growth rate (CAGR) of 4.8%.

Negative

No significant negative aspects were reported in the press release.

Ostin Technology Group success with Indiegogo Campaign and strong sales in China show some positive indicators. Raising 100,000 dollars within two months signals strong consumer interest. Although 100,000 dollars While this is a modest figure in the broader tech market, crowdfunding campaigns often serve more as a marketing metric and initial product validation than a primary source of revenue.

Sales results on Chinese e-commerce platforms like Tmall and JD.com adds another layer of credibility. The position in the top six best-selling digital photo frames during the “618” shopping event is noteworthy. This suggests strong market penetration and consumer acceptance, which is especially important in a competitive market like China. The mention of partnerships with offline distributors to establish a nationwide network is a strategic move to strengthen sales channels and inventory management.

However, investors should remember the relatively small size of the digital photo frame market, which is estimated at $115.1 million by 2034. The company’s statements about expanding into the broader visual display industry may be promising, but remain speculative at this stage. For now, sales are encouraging, but they must be viewed in the context of a niche market.

This digital frame market is a smaller segment within the broader technology industry, but is growing steadily with a projected compound annual growth rate (CAGR) of 4.8% from 2024 to 2034. The success of Pintura products on major Chinese platforms such as Tmall and JD.com indicates a good product-market fit. The company’s ability to rank high in major shopping events such as “618” is a significant achievement and suggests that their marketing and sales strategies are effective.

The broader market outlook, with technological advances and high-quality display screens driving demand, supports a favorable growth environment. However, it is important for investors to consider that while the market is growing, it is not growing at an explosive pace. Projected Global Market Value $115.1 million until 2034 it will still be a niche market.

The company’s plans to expand into the U.S. and eventually Europe and other markets could open up new revenue streams. But the success of these ventures will largely depend on their ability to replicate Chinese go-to-market strategies and adapt to different consumer preferences and competitive landscapes.

07/10/2024 – 08:30 AM

Nanjing, China, July 10, 2024 (GLOBE NEWSWIRE) — Ostin Technology Group Co., Ltd. (the “Company”) (listed on Nasdaq under the symbol OST), a leading supplier of display modules and polarizers headquartered in China, announces that the crowdfunding campaign launched by its subsidiary Pintura.Life LLC (“Pintura”) has achieved extraordinary success on the Indiegogo platform.

Pintura managed to collect almost 100,000 dollars In just two months since the campaign launched in March, this is an impressive result, demonstrating the high level of consumer enthusiasm for Pintura products in the North American market.

Pintura products are more than just a digital frame. They use a combination of multiple screens, seamlessly integrating with a cloud-based photo album that allows users to easily curate their favorite photos and blends seamlessly into any living space.

In China, Pintura’s online sales have also shown promising results. During the recent “618” shopping feast in June, Pintura was among the top six best-selling digital photo frames on Tmall and was also among the bestsellers on JD.com based on monthly sales revenue. The company has also formed partnerships with several offline distributors across China to establish a nationwide channel network and inventory pipeline.

Advances in technology and the increasing availability of high-quality display screens with features such as remote control and Wi-Fi connectivity are driving significant growth in the digital photo frame market. Research provider Fact.MR estimates that the global digital photo frame market will reach $72 million in 2024 and is expected to reach the value $115.1 million by 2034, with a projected CAGR of 4.8% from 2024 to 2034.

“We are deeply grateful to all the backers who supported Pintura’s crowdfunding campaign. Their support and feedback have strengthened our determination to expand into the US market,” said Mr. Tao Ling, CEO and President of the company. “In the future, we will introduce Pintura to more e-commerce platforms around the world and anticipate revenue growth in the second half of 2024, while working to penetrate European and other overseas markets.”

“We believe that Pintura’s innovative visual display technology can transcend the limitations of traditional LCD displays, allowing it to succeed in the electronic photo frame market. What’s more, it also has great potential to expand into the broader visual display industry, presenting enormous growth opportunities and huge market potential.”

“This series of impressive achievements fully demonstrates the strong market appeal of Pintura digital photo frame products. We will continue to focus on product innovation and improving user experience, bringing higher quality smart home solutions to consumers around the world.”

About Ostin Technology Group Co., Ltd.
Founded in 2010, the company is a supplier of display modules and polarizers in China. The company designs, develops and manufactures TFT-LCD display modules in a wide range of sizes and custom sizes, which are mainly used in consumer electronics, outdoor LCD displays and automotive displays. The company also produces polarizers used in TFT-LCD display modules.

For more information please visit http://www.austinelec.com/

Prognostic Statement
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding plans, objectives, strategies, future events or results, underlying assumptions and other statements that are other than statements of historical fact. When the Company uses words such as “may,” “will,” “intends,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, the Company is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that could cause actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks, including, but not limited to, the following: the Company’s objectives and strategies; the Company’s forecasts of market trends; the future development of the Company’s business; demand for and market acceptance of new products; the expectation of receiving customer orders for new products; the expected time to market and sell new products; changes in technology; the Company’s ability to attract and retain qualified professionals; customer concentration; general economic conditions affecting the Company’s industry; and assumptions underlying or relating to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance on any forward-looking statements contained in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.govThe Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

For more information please contact:
Ostin Technology Group Co., Ltd.
[email protected]

Investor Relations:
Janice Wang
Financial Services Wealth LLC
Phone: +86 13811768599 +1 628 283 9214
E-mail: [email protected]

Frequently asked questions

How much did Pintura raise in the Indiegogo campaign?

Pintura’s Indiegogo campaign raised almost $100,000 in two months.

What is the projected growth of the digital photo frame market?

The digital photo frame market is estimated to grow from $72 million in 2024 to $115.1 million in 2034, at a compound annual growth rate (CAGR) of 4.8%.

How did Pintura fare at the “618” shopping event?

Pintura ranked among the top six best-selling digital photo frames on Tmall and JD.com based on monthly sales revenue during the “618” shopping event.

What are Ostin Technology Group’s plans for Pintura products?

Ostin plans to expand Pintura’s reach to more e-commerce platforms worldwide and enter additional markets. It expects revenue to grow in the second half of 2024.

What features do Pintura digital photo frames offer?

Pintura digital photo frames integrate multiple screens and cloud-based photo albums for a seamless user experience.