Swiss chipmaker U-Blox Holding AG will review strategic options for its connectivity business and plans to expand a cost-cutting initiative, citing “muted” market conditions.
U-Blox didn’t elaborate on its plans for the connectivity unit, which sells modules that can be built into equipment used to operate cellular networks. It said Wednesday that revenue declines in the business was “more pronounced” than for overall sales. The stock dropped as much as 3.1% before rebounding.
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