TASER'S STATEMENT REGARDING NYPD DECISION
On Friday, the New York City Police Department announced the award of a 5,000 body-worn camera purchase to one of our competitors. Specifically, the NYPD solicitation required a 5,000 camera deployment, with two product refreshes for a total of 15,000 cameras. For those 15,000 total cameras plus unlimited data storage, the winning vendor bid $6.42 million. We understand the first phase of the contract will be for 1,000 units. While TASER aspires to earn the business of every major city, those that ultimately make decisions based on commodity cost (as opposed to the value of a full solution capability) may select other vendors. While we respect the decision of NYPD's RFP committee, we feel that this decision was a result of a competitor offering their products near or below cost.
Our solutions have an established market value, as proven by the 34 Major Cities on the Axon network, and we still believe that no other vendor offers a better return on investment. Our product suite is better than ever, and our company is well-positioned to compete in all future Major City procurements.
While we never want to lose a large deal, we are committed to doing right by our shareholders as well as our existing customers and are confident in the value of our solution.