In addition, Telit unveiled an agreement with Infineon Technologies, a supplier of semiconductors and system solutions for the provision to Telit of 4 million GSM/GPRS chipsets over a period of 24 months starting in October 2007. As part of this agreement, Telit will integrate the new Infineon GSM/GPRS single chip in its next generation products scheduled to be launched in Q4 2008. Based on this highly integrated component, Telit will be able to offer an exciting new range of ultra-small size M2M modules with embedded functionalities.
Oozi Cats, CEO of Telit Communications, said: This major US deal is a very important achievement for Telit and demonstrates our leadership position in the M2M market. This deal, combined with the other gains being achieved in the Americas region, once again reflects Telit’s growth from a European oriented company to a true global competitor. I am excited about the opportunity now being demonstrated by Telit in the Americas and confident in our ability to meet the demands of our growing customer base.
Furthermore, the agreement with Infineon emphasizes our expectations regarding the increasing sales volume for our GSM/GPRS modules in 2008 and 2009. This will help us to further enlarge our market share and to meet our ambitious growth objectives, while also ensuring that Telit continues to offer the best products and services in the M2M market.
