PNI Digital Media’s long languishing stock (TSX:PN) took a 16% bounce Tuesday (up to $0.67 per share from $0.51) on the news it has struck a deal with Samsung to embed its photo printing app in its handsets.
PNI Digital Media developed an app that allows people to chose photos from camera rolls on their smartphones and send it to photo print shops with major retailers, like Walmart and Costco.
Samsung smartphone users in the U.S. will soon be able to download the PNI app for free from Google Play or the Samsung app store. But eventually, under the deal struck with Samsung, it will be embedded as a native app in millions of Samsung handsets, the company stated in a press release.
“What we’ve partnered with Samsung to provide is a white label app that’s going to be embedded in the handsets that they ship, initially in the U.S.,” PNI Digital Media CFO Cameron Lawrence told Business in Vancouver. “The first rollout is the U.S. and then we’re hoping for a fast follow in the UK.”
The app will allow users to select a photo that they want printed and send it to a number of American retailers, like Costco, Sam’s Club (a Walmart subsidiary) and Rite Aid pharmacies for quick pickup.
Lawrence said he’s not sure when Canadian Samsung handset owners will also be able to use the app.
“Canada’s such a secondary market for them,” he said. “I’m hoping for middle of next year at the latest (in Canada).”
Canadian iPhone users can download a similar app, called Walmart Photo Prints – also made by PNI – for photo prints from the iTunes store. It can only be used with Walmart.
