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

Sun, 19 Aug 2012

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...

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