Shares of Socket Mobile (NASDAQ:SCKT) rocketed more than 200% higher at Tuesday’s market opening after the tech maker announced the introduction of the first enterprise-grade barcode scanner for Apple’s (NASDAQ:AAPL) iPhone 12 series. SCKT stock had gained 36.1% year-to-date through Feb. 12.
The DuraSled device, combined with Socket Mobile’s Capture software development kit (SDK), promises to enable the latest iPhones for enterprise use in for delivery services, stock counting, ticketing and other application-driven mobile services. The SDK was available for previous versions of the iOS device.
The barcode scanning market is dominated by about a dozen global firms, including Honeywell (NYSE:HON) and Zebra Technologies (NASDAQ:ZBRA).
The use of barcodes and two-dimensional QR codes has exploded in the wake of the novel coronavirus pandemic, as “contactless” interactions became standard from the coffee shop to the warehouse loading dock. While barcodes can only contain around 20 characters, QR codes can contain around 7,000.
SCKT Stock Move Reflects iOS Enterprise Growth
“An ever-increasing number of companies count on iPhone applications to run their businesses. Companies need to support a wide range of devices, especially if they offer their employee the option to use their own,” said Vanessa Lindsay, Socket Mobile’s senior product manager.
The move comes as Apple’s iOS products become more integrated into the business tech landscape. According to ZDNet, Apple has had an internal enterprise sales team for a long time, though it wasn’t the recipient of particular focus.
Socket Mobile announced in October that its contactless membership card reader had been certified for Apple Pay value-added service. That allowed the ready to select and retrieve mobile passes from the Apple Wallet resident on iPhones and Apple Watches.
On the date of publication, Robert Lakin did not have (either directly or indirectly) any positions in the securities mentioned in this article.
InvestorPlace contributor Robert Lakin is a veteran financial writer and editor, following fintech, agtech and property tech startups.
