Rakon stories

New Zealand's Quantifi Photonics appoints Brent Robinson, a former Rakon CEO with experience in product development and market leadership, as director.

Rakon returns to profit with a USD $3.2 million net gain after closing its UK plant and shifting production to India and NZ, despite doubling its debt.

Rakon fined £30k by NZ Tribunal over premature market release timing, linked to a strategic partnership and factory sale last year.

Rakon faces a staggering USD $54 million net loss for 2014 due to a USD $37 million write-down on its Chinese investment, causing shares to plummet 8.7%.

Rakon's Brent and Darren Robinson to sell 493,000 shares each after breaching Takeovers Code. The brothers' purchases pushed family ownership over 20%.

The second-worst performing stock on the New Zealand sharemarket in the past year, will sell 80 percent of its Chinese joint venture factory to reduce debt.

Rakon's losses soar to $32.8m as it writes down assets in China and NZ, hitting the lower end of its downgraded earnings forecast.

Rakon slashes full-year earnings forecast to USD $8-12 million, down from USD $14-16 million, due to delayed sales and thinner margins; shares drop 2.4%.

A sluggish first half saw Rakon's six-month loss widen to USD $3.96M, with falling revenues and rising expenses. Shares dropped 4.4% to 43 cents.

Rakon to cut 60 New Zealand jobs, shifting manufacturing to China and India to cut costs and improve profits by NZD $10 million annually.

Fresh from agreeing a US$56m deal with Kiwi firm Rakon, Huawei's CEO Ren Zhengfei arrives in Australia to cement their credentials as a mainstream vendor.

Auckland-based company has agreed a deal with Huawei Technologies, stretching five years and quadrupling sales.

Rakon clinches Company of the Decade and Year at NZ Hi-Tech Awards, celebrated for its daring innovation and global reach.