0
Wireless

Telit FY revenues slide 10% to USD 343 million; IoT cloud, connectivity remain strong

Tuesday 19 January 2021 | 09:08 CET | News
Telit Communications, which recently ended takeover talks with U-Blox, has given a trading update for its full-year to end December. Revenues are seen falling 10.4 percent from the year before to USD 343.0 million amid the continuing coronavirus pandemic, excluding any contribution from the automotive division sold in February 2019. Still, IoT cloud and connectivity revenues continued to grow, expected up by 6.1 percent to USD 43.5 million, driven by the continued strong performance of both the connectivity and platforms businesses, supporting the group's primary strategic focus on industrial

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: Mobile & Wireless
Companies: Telit Communications / U-blox
Countries: Yemen
::: add a comment
This article is part of dossier

Coronavirus

,

IoT


Comments

Industrial IoT solutions have been changing the way we do predictive maintenance for the last few years. We can now have real-time monitoring devices at a low cost that sends data to an algorithm on a continuous basis. With the added power of Machine Learning, it can detect whether there is something going wrong with a machineā€¦ make a prediction. https://www.hakunamatatatech.com/our-services/iot-app-development
Industrial IoT Solutions @ 19/1/2021 - 17:04


Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Telit grows EBITDA 6% in 2020 as rising margins offset lower sales

Published 24 Mar 2021 10:19 CET | World
Telit Communications has confirmed a 10.2 percent fall in revenues for 2020, to USD 343.6 million excluding its divested auto ...

Verizon certifies Telit FN980, FN980m modules on own 5G ultra wideband, nationwide networks

Published 21 Jan 2021 15:05 CET | United States
Telit has announced that Verizon certified the FN980 and FN980m 5G modules for use on its 5G Ultra Wideband and 5G Nationwide ...

Telit extends deadline to receive firm takeover offer from U-blox

Published 18 Dec 2020 09:12 CET | World
Telit Communications said that it has extended the deadline that allows Swiss company U-blox to firmly decide whether to make an ...

Telit confirms possible takeover offer from DBAY Advisors

Published 07 Dec 2020 16:48 CET | World
Telit Communications, global IoT enablement company, announced that DBAY Advisors is considering a possible offer of GBP 1.90 per ...

Telit receives all-share takeover bid from U-blox

Published 20 Nov 2020 09:41 CET | World
Telit Communications has announced the receipt of a preliminary all-share bid approach from Swiss company U-blox. Under the terms ...

Telit launches new LTE Cat 1 module for IoT apps

Published 18 Nov 2020 12:49 CET | World
Telit announced the LE910S1-EA, a new LTE Cat 1 module with single antenna, designed for IoT applications in the EMEA and APAC ...

Israel's Pelephone selects Telit module for tower monitoring

Published 12 Nov 2020 12:23 CET | Israel
Telit announced that Israeli mobile operator Pelephone is using the Telit ME910 module family and Telit OneEdge to manage, ...

Telit Communications revenues fall to USD 245 mln in first 9 months

Published 10 Nov 2020 14:36 CET | World
Telit Communications saw its total revenues for the nine months to 30 September decrease to USD 245.0 million from USD 274.5 ...

Telit attracts takeover interest from Lantronix, DBAY Advisors

Published 03 Nov 2020 10:52 CET | World
Telit Communications said it has received a takeover offer from Lantronix, a producer of IoT products and services. The offer was ...

Telit reports higher EBITDA in H1, revenues fall over 7%

Published 18 Aug 2020 10:35 CET | World
Telit Communications has reported its results for the first half, with revenues pulled down by the covid-19 pandemic. ...