IT security major Symantec Corporation (SYMC), recently rolled out an enhanced personalized security service product named Norton One, which is expected to protect consumers across multiple devices. The product is expected to provide the option of selecting a combination of solutions that work for them to provide total security for the connected household. End users will be able to access the service from the first half of 2012.
As per the data from the company’s market research department, United States consumers have an average of 4.5 devices in their household, which consists of desktop computers, laptops, tablets, mobile phones and other devices. We believe all these devices will need comprehensive customized protection, which in turn will enhance the market for Norton One.
This product comes with unique features, and the end user needs just a single membership, to protect each connected device in the household, all co-coordinated from a single user interface. Apart from using the connected PCs, Macs, and mobile, new devices can be easily added or removed at any time with the same level of security. This apart, customers will benefit through personalized services, as well as the support service provided by the company.
Moreover, the product includes some enhancements that should help extend the Norton brand to the mobile devices security market. These would be the greater reliance on the device-free web-based services, management features and performance improvements. The enhancements will definitely help them cater to the mobile security market, thus increasing the scope for higher pricing of the product.
Apart from mobile security and enactments in its Norton range of products, the company is trying to improve its cloud infrastructure solutions through its partnership with VMware. Under this partnership agreement, Symantec is leveraging VMware’s virtual desktop and integrating VMware View, VMware vShield, VMware vCloud Director 1.5 and VMware vSphere 5 with Symantec’s Endpoint Protection and the Altiris Client Management Suite to deliver a secure, manageable and cost-effective solution. Symantec will slowly develop a whole lot of products and solutions which will help it grow its customer base.
We have a positive outlook on Symantec based on its continuous product launches, positive feedback from customers and channel partners, and strategic ties with VMware Inc. (VMW) and Salesforce.com Inc. (CRM).
However, fierce competition from other players could limit Symantec's share gain in storage and security software markets. The acquisition of McAfee Inc. by the semiconductor giant Intel Corp. (INTC) could fuel further competitive pressure in the security software space.
Currently, Symantec has a Zacks #3 Rank, implying a short-term Hold rating.
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