Rakon to sign US$56 mln contract with China’s Huawei

Rakon to sign US$56 mln contract with China’s Huawei
By Hannah Lynch Aug. 20 (BusinessDesk) - Rakon, the communications components maker which dropped out of the NZX 50 Index in June, will today sign a letter of intent with Huawei Technologies, quadrupling its sales to the Chinese-based company to US$56 million over the next five years. Huawei will use Rakon's frequent control products in its handsets, smart devices and infrastructure programmes. A signing ceremony will be held at Wellington's New Zealand Trade and Enterprise office. "The letter of intent recognises the greater scale and bre...