Monster Digital Inc. has signed an agreement to distribute its digital cameras through resort wholesaler Gulf Coast Panama Jack.
Under the deal, the Simi Valley electronics manufacturer will provide its HD cameras to Panama Jack, based in Florida, for retail sales at beach resorts, boat rental and other recreational facilities, as well as drug and grocery stores near the beach.
The marketing strategy is to sell the waterproof cameras to vacationers for immediate use. The cameras have a suggested retail price of $49.99.
“Monster Digital's HD camera is at a perfect price point for our customers,” Panama Jack President Jay Quave said in a statement. “In the past, disposable, waterproof print cameras had been popular selling items for our customers. But, the cost of these cameras has increased, and they require that the customer pay for film processing, and then all they have to show for it is 36 prints and a camera in the trash can. This is not a problem with the Monster Digital HD camera; once the photos and videos from the Monster Digital HD camera have been shared with others, you still have a great camera that can be used over and over again."
Monster Digital shares closed Wednesday up 6 cents, or 5.5 percent, to $1.16 on the over-the-counter market.