Examines u-blox’s exit from the cellular IoT module market and analyzes what it means as a barometer for the cellular IoT market.

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Summary

u-blox is a Swiss manufacturer of wireless semiconductors and cellular IoT modules, as well as positioning modules that support global navigation satellite systems (GNSS), including receivers for GPS, GLONASS, Galileo, BeiDou, and QZSS. In January 2025, the company announced a strategic decision to phase out its Cellular business, which has more than 200 employees and generated revenue of CHF 27m (USD 30m) and an adjusted EBIT loss in excess of CHF 15m (USD 16m) in 1H24. As per the announcement, u-blox is exiting the cellular IoT module space to focus on its Locate (GNSS) and Short-Range businesses (Wi-Fi and Bluetooth modules).

This report examines the announcement and analyzes what u-blox’s cellular market exit means as a health check for the cellular Internet of Things (IoT) market more broadly.

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