u-blox CEO, Thomas Seiler, commented: “While we are disappointed that the deal has not come to fruition, u‑blox and SIM Technology Group continue to have a good relationship and expect to find other ways of working together in the future.”
Seiler continued: “Our strategy for cellular products remains focused on growth. For some time now we have been working on adapting our product range to achieve a stronger geographical diversification mainly for the Asian markets, where we make 50% of our global revenue. The strong move to LTE based connectivity will naturally open new strategic windows. Our strong focus and investment in our own chipset development especially for IoT applications is a key part of our strategy. Our guidance indicates a continued strong growth.”
As a result of this situation, u-blox has revised its guidance figures for 2017 back to levels as provided on 11th January 2017 and foresees for FY 2017 continued growth in all regions expecting revenues of between £324-326m (CHF 410-425m), with EBIT in the range of £47-51m (CHF 60-65m).