3D printer says Australia isn’t ready for the technology; refocuses on bobbleheads
Link copied to
3D printer 333D says it has learnt its lesson about the Australian market and is looking to print bobbleheads instead of selling 3D printers to schools.
In a half-yearly update, the tiny company — its market cap is about $4.4 million — told investors it had been ahead of the curve, but was now taking a different path to success.
“The previous six months have borne witness to a shift in the company’s business model that is congruent with lessons learnt about the Australian market for 3D printers and 3D printing,” the company told investors.
“Our school 3D printer proved too early for the marketplace, and as a result, we quickly redirected our focus to providing high-quality, affordable 3D printing via our print services bureau and developing a brand-new category of products and services related to 3D-printing licensed content.”
Australians are still amazed by 3D printing technology — but at odds as to what to print.
So 333D (ASX:T3D) has launched several new brands — Mini League, Figurine and Bobbled — to help make the decision easier.
Mini League allows customers to print their favourite AFL players. Special editions of those figurines sell for as much as $500, but customers can personalise bobblehead characters with Bobbled for as little as $25.
In December 333D inked a deal to supply bobbleheads for Cricket Australia.
They say they are now in good stead to become Australia’s leading 3D printer for licensed merchandise and preferred vendor for 3D printing services.
Shareholders weren’t convinced on Wednesday, however. The shares closed down 14.3 per cent at 0.6c.
They have traded between 0.4c and 1.8c in the past year.
333D made $179,000 in the December quarter, most of which came from their Mini League business. Richmond’s historic win was a key driver.
“Our Dustin Martin Premiership Cup item, priced at $99, was a hit with fans who purchased the collectible figurine as a memento commemorating Richmond’s successful year and Dusty’s historic season.”
“While the product represented a boost in sales, it also showcased the true commercial power of product development and manufacturing based on owned 3D intellectual property and 3D printing.”
It seems AFL fans are keen on their 3D figures and 333D are poised to cash in. The company is planning even more player figurines in the coming season.