CHARLOTTE, N.C., Oct. 18, 2016 /PRNewswire/ -- Life Clips, Inc. (OTCQB: LCLP) today announced that they have entered into a license agreement to manufacture and distribute HP branded action cameras, still cameras, dash cameras and accessories. The license agreement also calls for the development of a collaborative media cloud storage service platform to store content created by the HP branded products.
The multi-year license agreement calls for Life Clips® to be Hewlett Packard's exclusive partner to manufacture and distribute action cameras to the following territories: USA & Canada, Europe, Africa, Latin America, Australia, New Zealand and Israel.
Robert Gruder, CEO of Life Clips, stated, "We intend to provide the world's best action cameras. HP is known to deliver innovative and high quality products to create, manage, print & share consumers' experiences. We fully expect these products to lead these camera categories by providing easy to use and technologically advanced solutions."
The action camera market size is anticipated to grow at a CAGR of over 22% from 2016 to 2023. According to a report by Grand View Research, the dash camera market is anticipated to be $1.8 billion by 2022. The action cameras are expected to ship in the fourth quarter of 2016, while the dashboard cameras will be available early in the first quarter of 2017.
As result of the agreement with Hewlett Packard, Life Clips® (OTCQB: LCLP) will no longer manufacture Life Clips branded action cameras and will now only manufacture action, still, dash, 360 cameras and accessories under the HP brand.
About Life Clips®, Inc:
Life Clips is a developer and manufacturer of action cameras aimed at families, action sports enthusiasts, and those on vacation. Life Clips also offers innovative accessories like one time use batteries Mobeego® for mobile devices. Our future cameras will allow for live streaming and filming an event from more than one perspective enabling high quality videos and stills to be taken from unique positions. www.LifeClips.com
Life Clips Investor Relations
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SOURCE Life Clips, Inc.