June 09, 2005
Sierra Wireless Cancels Voq Smartphone
Sierra Wireless announced its plans to sell off or terminate its Voq Professional Phone initiative. According to president and CEO David Sutcliffe:
"These actions are designed to focus the company on the core areas of our business where we have extensive experience and a well established market position ... We have enjoyed limited success to date on the Voq Professional Phone and have concluded that continuing to proceed with Voq is no longer the best use of our resources, given our other opportunities. We will now seek the most effective exit, whether by divestiture or by termination of the initiative."
Sierra Wireless Inc. shares jumped over 18 percent after its announcement on Wednesday.
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Posted by BJ at June 9, 2005 10:13 AM
