Rakon says telco dip temporary, but shareholders want belt tightened

CEO Sinan Altug assured investors that the company was “making efforts to aggressively streamline”. (Image: Rakon)

Mon, 17 Jul 2023

The contraction in the telecommunications infrastructure market that poses a $10 million risk to Rakon’s underlying earnings is temporary, the company’s chief executive said, but shareholders still want the company to tighten its belt.Sinan Altug, CEO of the tech component manufacturer, said on an investor call that since the company released its guidance for the financial year ending March 2024, its telco customers are slowing down purchasing.He said that those customers, including Ericsson and Nokia, are seeing the mobile network...

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