Canadian broadband gear maker SR Telecom, which decided to solely focus on WiMAX last year, put itself up for sale after failing to line up additional financing. SR Telecom has products certified by the WiMAX Forum, but the company says problems associated with the organization's past restructuring efforts continue to hurt operations.
"As we continue to work on resolving our capital issues, market acceptance of our products is such that we continue to believe that we have made the right product development and operational improvements to allow SR Telecom to play an important role in the global WiMAX market," said Chairman Lionel Hurtubise.
The company reported a consolidated net loss of $103.8 million compared with $81.8 million in 2005.
For more about SR Telecom's woes:
- check out this article from TelecomWeb (reg. req.)