Webtech Wireless Reports Q2 Losses |
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TrackCompare,
August 9, 2010 Vehicle Tracking |
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Global vehicle tracking provider and telematics hardware manufacturer Webtech Wireless have reported Q2 net losses of C$1.5 million dispite a 33% increase in revenue for the same quarter. Whilst not having a significant presence in the UK for their vehicle tracking solution their hardware is used by many of the UK’s leading vehicle tracking companies. Candian firm Webtech Wireless has built a reputation for innovation and quality in the telematics hardware sector although their market share and margins are under pressure for lower priced units from Asia and Europe.
Since releasing their Q2 figures Webtech Wireless have announced the release of C$1.5 million in restricted cash for the business and the recruitment of former Virgin chief operating office for Asia, Craig Zimbulis. Mr Zimbulis takes on the position of Business Development Representative for the Asia Pacific Region. Commenting on his appointment, Zimbulis added, “WebTech Wireless is a global leader with proven solutions in a number of verticals, and their distributor and carrier business model is perfectly suited to the Asian market. I look forward to the opportunity to add to their already significant business successes.”
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