Advertisement

Cellnet hopes for tech revolution to get profits back on track

Technology distribution company, Brisbane based Cellnet, is pinning its hopes of 5G “supercycle” and the release of new gaming consoles to push it back into the black in 2020-21.

Sep 01, 2020, updated Sep 01, 2020
Cellnet's profits are booming. (Photo: Unsplash)

Cellnet's profits are booming. (Photo: Unsplash)

The company produced a $2.3 million loss for the June 30 year following a fall in sales because of lockdowns, but revenue growth has returned in July.

Chief executive Dave Clark said he expected the next generation of gaming consoles would launch later this year. Sony is expected to release PlayStation 5 and Microsoft will launch its new Xbox.

InQueensland in your inbox. The best local news every workday at lunch time.
By signing up, you agree to our User Agreement andPrivacy Policy & Cookie Statement. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

“Both releases are highly anticipated and will drive an uplift in new compatible gaming accessories and increases software releases from all major publishers,” Clark said.

He said in the mobile phone segment the next supercycle of smartphone evolution was on the horizon through 5G technology.

“This landmark shift heralds a new age in mobile devices, delivering ultra-fast speeds to enable new categories including mobile gaming,” Clark said.=

Local News Matters
Advertisement

We strive to deliver the best local independent coverage of the issues that matter to Queenslanders.

Copyright © 2024 InQueensland.
All rights reserved.
Privacy Policy