Rakon prospers as 5G and cloud demand surges
Auckland-based GPS component maker is hitting a revenue sweet spot, driven by increased global 5G mobile network rollouts and a major fire that took out a key competitor.
Auckland-based GPS component maker is hitting a revenue sweet spot, driven by increased global 5G mobile network rollouts and a major fire that took out a key competitor.
Telecommunications and GPS component maker Rakon reported a strong first half result this morning, increasing both revenue and earnings despite the shock of the COVID-19 lockdowns.
An A/NZ effort to deliver a new, super-accurate form of GPS system is being funded out of its trial phase and into procurement.
GPS crystal manufacturer Rakon today posted a net profit after tax of $3.4 million, down from $10 million in 2018 but steady underlying earnings.
Smartphone global positioning systems have been significantly improved thanks to trans-Tasman research by the University of Otago and Curtin University.