Symantec (NASDAQ:SYMC) announced that it will be launching a new service – Norton One – in the beginning of 2012 that will offer security and protection on multiple platforms including PCs, Macs and mobile devices. This new service will work with all major operating systems and support a wide range of devices. It alsowill be offered as a single family subscription for securing all its devices. Symantec currently offers Norton antivirus for multiple platforms, but sells these as separate products for each platform. Norton is the leader in the global consumer antivirus market with a 45% market share and pits Symantec against Intel (NASDAQ:INTC) via McAfee and Microsoft (NASDAQ:MSFT) that offer competing antivirus products.
Norton Antivirus accounts for almost a third of the $20 Trefis price estimate for Symantec, which is more than 20% higher than the current market price.
Norton One Could Boost Symantec’s Share in Consumer Security Market
Symantec has been working on Norton One for a couple of years, and this will soon be available on a subscription basis. They haven’t revealed any other details about it, including the number and types of devices they will support. Symantec states that it intends to focus primarily on two aspects – protection and performance.
We expect the global consumer security market to be worth more than $6 billion by the end of our forecast period. With Norton One, if Symantec is able to increase its market share to even 50%, instead of 42% as we currently predict, it could mean a 5% upside to our Trefis price estimate and a 30% upside to the current market price.
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