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Technology Stocks : Sequans Communications

SQNS 7.700

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11:35 AM EDT

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frmrVZguy

To: FJB who wrote (2272)	4/27/2021 3:00:19 PM
From: FJB	1 Recommendation Read Replies (1) of 2386

Verizon announced a voluntary recall of the Jetpack, the portable router manufactured by Franklin Wireless that includes a Sequans modem, due to a battery heating issue. At this time, we are not sure when shipments of the Jetpack will resume and how sales to Franklin will trend in the second half of 2021. We were forecasting that the growth potential of our Massive IoT and CBRS and emerging Broadband IoT would offset the decline in portable router related business. Still, this new factor may impact 2021 revenue by up to $6 million.

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