5 May 2009

Govt grant to develop mobile phone navigation systems

7:05 am on 5 May 2009

Rakon has received a Government grant to develop new navigation systems for mobile phones.

The technology company will fund half of the $9 million project. A grant from the Foundation for Research, Science & Technology will fund the other half.

Rakon expects the products it's developing will help to expand its market share in the mobile phone GPS market.

The company has been struggling with the effects of a slowdown in consumer spending, and falling demand for its components.

Its September half-year profit fell by two-thirds to under $2 million. Rakon laid off 45 people in its manufacturing division last November.