ANADIGICS, Inc. (NASDAQ:ANAD) was downgraded by trading house Charter Equity to an Mkt Underperform from its previous rating of Mkt Perfom. Since then the company management has been working towards increasing its operational efficiencies and augment its product offering, in its efforts to reposition itself as a maker of new age tech solutions to the telecom industry.
Announcement Enthuses The Market
One such move by the company was the announcement by the firm that its newly designed IC is helping telecom companies offer a seamless and transparent integration and performance in offering WiFi connectivity in new devices like Ascend P6S smart phones which are being introduced in the market by Chinese hardware maker Huawei.
Big Vote Of Confidence For Its New Tech
The move by the handset maker to choose ANADIGICS, Inc. (NASDAQ:ANAD) WiFi connectivity solutions in its top end Ascend P6, which has been positioned as a cutting edge new age smart phone and is expected to sell in huge numbers across Asia and U.S on a android O.S platform.
Expressing his happiness at his company products being chosen by Huawei, ANADIGICS, Inc. (NASDAQ:ANAD) vice president of WiFi Products Jonathan Griffith has been quoted to have said that, “We are very pleased that Huawei has selected the AWL9281 FEIC for the new Ascend P6S smartphone. Our 802.11n and 802.11ac WiFi solutions continue to raise the bar in performance and integration, enabling higher data rates, longer battery life and improved manufacturability. We look forward to working closely with Huawei to bring these advantages to future WiFi-enabled devices.”
The company has also filed an update with SEC, disclosing to the regulator its operational updates for FY13. Net loss for the year came in at 40.2 percent, which was well below the 62 percent it had reported in FY12.