Rakon's revenue, profit and earnings slashed

Rakon chief executive Sinan Altug says its been a tough year for the advanced parts manufacturer. (Image: Rakon)

Wed, 29 May 2024

Advanced tech manufacturer Rakon has reported steep falls in revenue, profit and earnings. The company said it was still being affected by a slowdown in 5G deployment by telecommunications firms, with revenue falling about 30% to $128 million for the 12 months ended March 31. It said this reflected the completion of one-off chip contracts in the prior year and inventory levels in the telecommunications and positioning segment.Rakon makes frequency control products and timing solutions for such industries as telecommunications, space a...

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