Brightstar NZ reports lower sales in 2018.
Wireless and mobile distributor Brightstar NZ has seen sales its sales and profits slip in 2018.
For the year ended 31 December, Brightstar reported sales of $20.8 million, down from $23 million in 2017.
Gross profit lifted from $5.8 million to $6.5 million but, despite cost of sales falling by nearly $3 million, net profit was down from $685,087 to $514,242.
Brightstar is owned by Japan's Softbank, which paid US$1.26 billion for a 57 per cent controlling stake in 2013.
Last year, Reuters reported Softbank was looking to sell the company as it purged lower growth assets from its portfolio and to pay down debt.
Historically the company has specialised in managing mobile phone and accessory supply chains of major telcos, including NZ's Telecom for several year.
After two years of rapid growth, Brightstar NZ reported revenue of over $50 million in 2015 for a net profit of $2.2 million. In 2016, revenue slipped to $35.9 million but profit remained steady.
Brightstar NZ has been contacted for comment.
