Ignis signs new preferred supply agreement with Korea Telecom
Oslo, Ignis ASA. an international provider of optical components, today announced that they have entered into a preferred supply agreement of splitters to Korea Telecom. The agreement has an order value of minimum USD 3.0 million in 2010 and is signed for one year with automatic extensions for additional periods unless terminated by either party.
- Entering 2010 we are experiencing strong momentum in splitter demand from Europe, US and Asia and we are looking forward to another prosperous year for our splitter business. The expansion and improvement of our production facilities in Korea have made us even more capable in the international market for optical components, says Matt Lee, COO of Ignis ASA.
Korea is one of the fastest growing and most innovative broadband markets in the world and their projects for wireline and wireless broadband deployment during the next five years are state of the art. The Korea Communications Commission (KCC) plans to spend around USD 25 billion on improving the nation’s broadband infrastructure and they aim to increase speeds for fixed line broadband services to 1Gb/s by 2012.
Korea Telecom is one of the leading telecom operators in the world for broadband access and FTTH with more than 8 million homes (44%) connected via fibre and more than 12 million high speed internet subscribers.
- Ignis is privileged to have their home market for optical components in the
Korean telecom market – which is developing and expanding at an extraordinary pace. We are not only benefiting from a financial point of view but even more from a product quality experience. Being a preferred supplier to one of the leading and most demanding customers in the international telecom markets makes us very competitive in many ways, says Matt Lee
Ignis ASA is comprised of three subsidiaries including 69.3% ownership in Ignis Fira in Korea, the wholly owned Ignis Photonyx in Denmark and Ignis Syntune in Sweden. Ignis is a leading international provider of optical splitters, multiplexers, and state-of-the-art widely tunable lasers for applications ranging from fiber-optic communications to sensor systems. Headquartered in Oslo Norway, Ignis ASA is listed on the Oslo Stock Exchange (OSE: IGNIS).
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