Sequans snags LTE design wins in U.S., other markets

Chipmaker Sequans Communications said its foray into LTE is starting to pay off, though the company continues to lose money. Sequans' net loss for 2013's second quarter was $9.1 million compared to a net loss of $8.3 million in the prior-year period. Second-quarter 2013 revenue of $2.3 million was flat sequentially and decreased 67 percent compared to the second quarter of 2012 due to lower sales of WiMAX products. The vendor has struggled since Clearwire, now owned by Sprint (NYSE:S), shifted its focus from WiMAX to LTE in the second half of 2011. In turn, Sequans began developing chips for the LTE market. "Our LTE business is gaining traction and we have more visibility on the revenue ramp in the second half of 2013," said Georges Karam, Sequans CEO. "In addition to increasing revenue from solutions for emerging carriers, we expect growth to accelerate as a result of recent design wins for carriers in the United States, Japan and Korea later this year and into 2014," he said. For more, see this Sequans release.

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