- The telecommunications industry is anticipating an evolutionary step in its development as carriers prepare to roll out higher speed 5G networks in the coming years
- Spectrum Global Solutions is a U.S.-based end-to-end telecoms network tech provider whose clients include recognized names such as Ericsson, Nokia, Sprint, AT&T and Verizon
- The company recently reported significant year-over-year revenue growth that nearly tripled to $11.3 million
- SGSI’s first quarter report also noted that the company achieved its first quarter of positive income from operations, transforming a loss of $743,491 into a gain of $14,699
The pending introduction of higher-speed next-generation 5G networks has telecom industry insiders feverish with excitement, as exemplified by the new Ericsson Mobility Report’s statement (http://nnw.fm/f4rVC) that “No previous generation of mobile technology has had the potential to drive economic growth to the extent that 5G promises. It goes beyond connecting people to fully realizing the Internet of Things (IoT) and the Fourth Industrial Revolution.”
While industry analysts are more cautionary in their predictions for 5G’s immediate potential, citing prior corporate policy disappointments, leading-edge tech underperformance and the inevitable reluctance to embrace costs associated with rolling out such a new technology (http://nnw.fm/OHOt7), no one is denying that 5G is expected to eventually provide an evolutionary boost to society’s use of communications technology, once it reaches scale. End-to-end U.S. network service provider Spectrum Global Solutions Inc. (OTCQB: SGSI) is positioned to help drive that change.
“The market opportunity is immense,” SGSI President Keith Hayter said in an interview with The RedChip Money Report (http://nnw.fm/8hOqC). “We’re in a high-growth market… Over $1.5 trillion is going to be spent on telecommunications. For deployment services, which is where we primarily fit in and get our revenue streams from, from $150 (billion) to 200 billion will be spent over the next couple of years.”
Spectrum Global Solutions is a holding company for next-generation technology firms specializing in the telecommunications industry across North America and Europe, providing its deployment and maintenance expertise directly to carriers, aggregators, enterprise services, project management offices (PMO) and original equipment manufacturer (OEM) clientele. Those clients include large-ticket names such as Ericsson, Nokia, Sprint, AT&T and Verizon, as well as smaller companies whose names may not have household recognition.
The company’s domestic base of operations could potentially benefit it as well amid the U.S. government’s ongoing trade war maneuvers against China’s world-leading telecoms equipment maker, Huawei (http://nnw.fm/BxK8V). The Florida-based company provides services and software solutions across the United States and Canada and into the Caribbean.
SGSI reported a significant leap in revenues during the first quarter of 2019, driven by its bundling of services and the low number of direct competitors in its network-building sphere. The report marked the company’s first quarter with positive income from operations, indicated by a year-over-year increase in revenues from $4.3 million to $11.3 million and in continuing operations income from a loss of $743,491 to a gain of $14,699 (http://nnw.fm/2jaUW).
For more information, visit the company’s website at www.SpectrumGlobalSolutions.com
NOTE TO INVESTORS: The latest news and updates relating to SGSI are available in the company’s newsroom at http://nnw.fm/SGSI
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