JAN 15, 2025
RCR Wireless News
Module maker u-blox quits cellular IoT– ‘the writing was on the wall’
Swiss IoT module maker u-blox is to phase out its loss-making cellular IoT business, the firm has said. The division has over 200 employees; jobs are expected to go with its closure. It made revenue of CHF 27 million ($29.6 million) in the first half of 2024, against (adjusted EBIT) losses of more than CHF 15 million ($16.45 million) in the period. The move will eliminate “at least” CHF 30 million ($32.9 million) of annual EBIT losses, it said, as it puts additional focus on its GNSS satellite positioning business, particularly, alongside its short-range IoT connectivity segment.