Rakon Limited, a high technology manufacturer of frequency control and timing solutions, has reported a Q1 FY24 performance slightly above expectations across all three core markets.
Despite a temporary slowdown in the telecoms sector, the company's outlook in the space and defence sector remains strong, with higher than expected product orders in FY24 and a healthy order book extending out to FY25.
Rakon is taking necessary steps to adjust its operations and is confident of a return to normal customer inventory levels by the end of FY24.
Ericsson's Q2 results confirm its earlier forecast for global 5G subscriptions to reach 1.5 billion connections by the end of 2023.
Rakon will hold a briefing today to discuss the update.
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