Plans Will Bundle Hardware with Service at a
Low Monthly Price with No Upfront Costs
SAN
JOSE, Calif., March 7,
2023 /PRNewswire/ -- Arlo Technologies, Inc. (NYSE:
ARLO), a leading smart home security brand announced today an
integrated partnership with Citizens Pay, a market leader in
consumer installment financing, to lower the barrier of entry and
broaden the market for DIY home security. Plans include 0% APR
financing and a simple point-of-sale experience for consumers.
Arlo Total Security powered by Citizens Pay will allow consumers
to avoid the upfront investment typically required by DIY security
purchases while bundling the hardware and professional monitoring
into a single, low monthly payment. Several plans will be available
at various price points and subscribers will have the option to
upgrade to the latest technology every three years.
"Over 20 million households are paying too much for outdated
home security solutions," said Matt
McRae, CEO at Arlo. "Arlo Total Security subscriptions will
offer the latest technology and a true comprehensive safety and
security solution with a superior user experience at a lower
monthly price."
"We're excited to partner with Arlo to pioneer consumer
installment financing in the DIY home security space, broadening
access to their industry-leading home security technology and
offering a responsible way for consumers to pay off over time,"
said Christine Roberts, Head of
Citizens Pay.
More information and pricing will be announced when the new
subscription plans launch later this year. For more
information on the full range of Arlo smart home security products
and services, visit www.Arlo.com. For additional details on
Citizens Pay, visit, www.citizenspay.com.
About Arlo Technologies, Inc.
Arlo is the
award-winning, industry leader that is transforming the way people
experience the connected lifestyle. Arlo's deep expertise in
product design, wireless connectivity, cloud infrastructure and
cutting-edge AI capabilities focuses on delivering a seamless,
smart home experience for Arlo users that is easy to setup and
interact with every day. The company's cloud-based platform
provides users with visibility, insight and a powerful means to
help protect and connect in real-time with the people and things
that matter most, from any location with a Wi-Fi or a cellular
connection. To date, Arlo has launched several categories of
award-winning smart connected devices, including wire-free smart
Wi-Fi and LTE-enabled security cameras, audio and video doorbells,
and floodlight.
With a mission to bring users peace of mind, Arlo is as
passionate about protecting user privacy as it is about
safeguarding homes and families. Arlo is committed to supporting
industry standards for data protection designed to keep users'
personal information private and in their control. Arlo doesn't
monetize personal data, provides enhanced controls for user data,
supports privacy legislation, keeps user data safely secure, and
puts security at the forefront of company culture.
About Citizens Financial Group, Inc.
Citizens
Financial Group, Inc. is one of the nation's oldest and largest
financial institutions, with $226.7
billion in assets as of December 31,
2022. Headquartered in Providence,
Rhode Island, Citizens offers a broad range of retail and
commercial banking products and services to individuals, small
businesses, middle-market companies, large corporations and
institutions. Citizens helps its customers reach their potential by
listening to them and by understanding their needs in order to
offer tailored advice, ideas and solutions. In Consumer Banking,
Citizens provides an integrated experience that includes mobile and
online banking, a full-service customer contact center and the
convenience of approximately 3,400 ATMs and approximately 1,100
branches in 14 states and the District of
Columbia. Consumer Banking products and services include a
full range of banking, lending, savings, wealth management and
small business offerings. In Commercial Banking, Citizens offers a
broad complement of financial products and solutions, including
lending and leasing, deposit and treasury management services,
foreign exchange, interest rate and commodity risk management
solutions, as well as loan syndication, corporate finance, merger
and acquisition, and debt and equity capital markets capabilities.
More information is available at www.citizensbank.com or visit us
on Twitter, LinkedIn or Facebook.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995:
This press release contains
forward-looking statements within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995. The words "anticipate,"
"expect," "believe," "will," "may," "should," "estimate,"
"project," "outlook," "forecast" or other similar words are used to
identify such forward-looking statements. However, the absence of
these words does not mean that the statements are not
forward-looking. The forward-looking statements represent Arlo
Technologies, Inc.'s (the "Company" or "Arlo") expectations or
beliefs concerning future events based on information available at
the time such statements were made and include statements regarding
lowering the barrier of entry and broadening the market for DIT
security and Arlo cameras, Arlo video doorbells, Arlo Secure, Arlo
Secure Plus and future Arlo products. These statements are based on
management's current expectations and are subject to certain risks
and uncertainties, including the following: future demand for the
Company's products may be lower than anticipated; consumers may
choose not utilize payment plans or to adopt the Company's new
product offerings, or may adopt competing products; and product
performance may be adversely affected by real world operating
conditions. Further, certain forward-looking statements are based
on assumptions as to future events that may not prove to be
accurate. Therefore, actual outcomes and results may differ
materially from what is expressed or forecast in such
forward-looking statements. Further information on potential risk
factors that could affect Arlo and its business are detailed in the
Company's periodic filings with the Securities and Exchange
Commission, including, but not limited to, those risk factors
described in the Company's most recently filed Annual Report on
Form 10-K and Quarterly Report on Form 10-Q and subsequent filings
with the Securities and Exchange Commission. Given these
circumstances, you should not place undue reliance on these
forward-looking statements. Arlo undertakes no obligation to
release publicly any revisions to any forward-looking statements
contained herein to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events.
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SOURCE Arlo Technologies, Inc.