Toronto-based wearables maker Bionym announced today it is changing its name to match its product and will henceforth be known as Nymi Inc.
The maker of the Nymi Band, a wrist band that detects the wearer’s unique cardiac rhythm and uses it as a mode of identification, is perhaps demonstrating that it is paying attention to the lessons of recent history. Nearby Waterloo, Ont.-based smartphone maker BlackBerry was known as Research In Motion (RIM) for years as its devices rose to the height of popularity and then were overtaken by a flood of iPhones and Android phones.
It wasn’t until January 2013 that new (and now former) CEO Thorsten Heins announced that BlackBerry was rebranding its company name to match its world-famous product line. It was known inside of RIM for years that having two names – one for their products and one for the company – was creating an uphill battle for developing a cohesive image in the minds of customers.
By renaming itself to match its product name, Bionym – or now Nymi Inc. – may be heading off years of awkward marketing problems. The name changeover comes with a new website, Nymi.com, and the availability of a new product package.
The Nymi Band Discovery Kit will start shipping Dec. 15. Targeted at developers, it includes the hardware and several companion software applications for Windows. A Mac version will be available shortly, according to Nymi. One piece of software is designed to unlock doors for authorized users, and another is a password manager so users don’t have to type in their computer passwords.
For those that order a Nymi Band kit before the end of December, a special price of $79 is available. After Jan. 1, 2015, the price goes up to $149.