Russia's Sitronics sets new product strategy
MOSCOW Feb 12 (Reuters) - Russian technology firm Sitronics SITRIq.L said on Tuesday it had reviewed the product strategy in its telecom solutions business to reverse a loss-making trend of the last year.
The company, part of services conglomerate Sistema (SSAq.L), said in a statement it now planned to invest mainly in market segments with an average annual growth of at least 15 percent.
"Sitronics' new product portfolio will consist of solutions for broadband wireless access, next generation networks (NGN), solutions for supplying content and additional services, as well as the company's traditional OSS/BSS (operations and business support systems) solution," the firm said.
Sitronics' London-listed stock closed at $6.55 on Tuesday, up 4 percent.
Sitronics last year posted a net loss of $108 million for the third quarter due to project delays and said it would review its strategy and would possibly pull out of some operations. (Reporting by Maria Kiselyova; Editing by David Holmes)
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