IoT module company u-blox outlined an intention to phase out its loss-making cellular business to fully focus on products using satellite positioning technology, Wi-Fi and Bluetooth.
The Switzerland-based company’s cellular division employs 200 people and posted an adjusted EBIT loss of CHF15 million ($16 million) in H1 2024.
In a statement, u-blox explained exiting the cellular IoT business is the “most viable course of action to ensure the company’s long-term strategic focus and operational efficiency”.
The move follows a strategic review where it explored selling the division.
u-blox provides chips, modules and IoT services for a wide range of use cases, including within industrial and telematics segments.
CEO Stephan Zizala said: “Our efforts to find a viable path forward for the cellular business did not pan out, including exploring a potential sale, leading us to the decision to phase out this business. We will do our utmost to support our employees, customers and partners impacted by this decision.”
He added the “strategic shift will enable us to unlock even greater potential within the positioning technology market and accelerate the development of cutting-edge solutions for our customers.”
The company expects to eliminate around CHF30 million in EBIT losses a year.
The post IoT specialist u-blox kills off mobile division appeared first on Mobile World Live.
Commercials Cooperation Advertisements:
(1) IT Teacher IT Freelance
立刻註冊及報名電腦補習課程吧!
电子计算机 -教育 -IT 電腦班” ( IT電腦補習 ) 提供一個方便的电子计算机 教育平台, 為大家配對信息技术, 電腦 老師, IT freelance 和 programming expert. 讓大家方便地就能找到合適的電腦補習, 電腦班, 家教, 私人老師.
We are a education and information platform which you can find a IT private tutorial teacher or freelance.
Also we provide different information about information technology, Computer, programming, mobile, Android, apple, game, movie, anime, animation…
(2) ITSec
www.ITSeceu.uk
Secure Your Computers from Cyber Threats and mitigate risks with professional services to defend Hackers.
ITSec provide IT Security and Compliance Services, including IT Compliance Services, Risk Assessment, IT Audit, Security Assessment and Audit, ISO 27001 Consulting and Certification, GDPR Compliance Services, Privacy Impact Assessment (PIA), Penetration test, Ethical Hacking, Vulnerabilities scan, IT Consulting, Data Privacy Consulting, Data Protection Services, Information Security Consulting, Cyber Security Consulting, Network Security Audit, Security Awareness Training.
Contact us right away.
Email (Prefer using email to contact us):
SalesExecutive@ITSec.vip