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Cemtrex Sees Increased Demand in IoT and Wearable Markets
March 5, 2018 | Cemtrex Inc.Estimated reading time: 1 minute
Cemtrex Inc., through its electronics manufacturing services (EMS) business unit, ROB Cemtrex, continues to see strong incoming orders and new customer acquisition.
The company has received new orders in a number of fast growing industries including electronic medical devices, internet of things (IoT), and wearable technology. The company's backlog from electronic medical device sales alone stands at $12.6 million, the highest level in the Cemtrex's history. The company believes the outlook for demand in the electronic medical device market remains robust.
Cemtrex also received a new order for approximately $400,000 to manufacture electronic components for an innovative IoT, "Alexa" enabled, home appliance manufactured by a newly acquired billion-dollar European customer, Blanc & Fischer. The Company is also seeing demand from its wearable customers expected to increase almost 66% this year in 2018 compared to 2017.
Cemtrex Chairman and CEO Saagar Govil said, "We are pleased with the continued progress we are making in our EMS business. IoT and wearable demand continues to drive innovation and enable new products across many different categories and will become an important segment for us in the coming years. We remain optimistic about the long term growth potential of this business across the different markets we are competing in and continue to win new sustainable business. Additionally we are looking forward to unveiling our own IoT flagship product, a smart desk, this upcoming May."
The company completed the consolidation of its two German factories while leaving a smaller team to service an important customer. For more information on the planned release of the smart desk, please visit www.cemtrexat.com.
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