Welcome to our dedicated page for CommScope Holding Company news (Ticker: COMM), a resource for investors and traders seeking the latest updates and insights on CommScope Holding Company stock.
CommScope Holding Company, Inc. (symbol: COMM) is a leading provider of infrastructure solutions for communication, data center, and entertainment networks. Headquartered in Hickory, North Carolina, CommScope specializes in both wired and wireless network solutions, playing a pivotal role in enabling service providers such as cable and telephone companies, data centers, and digital broadcast satellite operators to efficiently deliver media, voice, Internet Protocol (IP) data services, and Wi-Fi to subscribers.
CommScope's operations are divided into several key segments:
- Connectivity and Cable Solutions (CCS): Focuses on providing robust connectivity solutions that include copper and fiber optic cables, as well as connectivity components for various applications.
- Outdoor Wireless Networks (OWN): This segment offers solutions for improving wireless coverage and capacity, particularly in outdoor settings such as remote cell sites and large venues like sports arenas and airports.
- Networking, Intelligent Cellular, and Security Solutions (NICS): Develops intelligent networking solutions to enhance cellular connectivity and network security across complex environments.
- Access Network Solutions (ANS): Provides comprehensive solutions to optimize and expand network access, ensuring high-speed and reliable connectivity.
With a focus on innovation and a commitment to excellence, CommScope is continuously evolving to meet the dynamic needs of modern communication. Recent achievements include advancements in 5G technology, expanding the capabilities of its fiber optic solutions, and forming strategic partnerships to enhance its product offerings. Financially, CommScope has shown resilience and adaptability, investing in R&D to stay ahead in the competitive tech landscape.
CommScope's products and solutions are integral to some of the world's most advanced networks, ensuring seamless connectivity in various environments from bustling airports to high-tech data centers. The company's expertise is crucial for businesses looking to boost bandwidth, expand network capacity, and enhance overall efficiency.
CommScope (NASDAQ: COMM) partners with Meta Connectivity to join the Evenstar program, aimed at accelerating Open RAN adoption through the development of open reference designs. The collaboration will focus on creating a Massive MIMO reference design following O-RAN Alliance specifications to enhance network capacity and coverage. This initiative supports operators' flexibility by allowing disaggregation of filter/antenna elements from radio units. CommScope will conduct Over-the-Air testing to ensure interoperability, reinforcing its commitment to advancing wireless technology.
CommScope Holding Company, a leader in network connectivity, will release its fourth quarter and full year 2021 financial results on February 17 before market opening. Following the release, management will host a conference call at 8:30 a.m. Eastern to discuss the results, which can be accessed online. The replay of the call will be available on CommScope's Investor Relations website for a limited time. CommScope aims to push technology boundaries to enhance wired and wireless networks.
CommScope has appointed Markus Ogurek as the new senior vice president and segment leader for Venue and Campus Networks. Previously with Cisco, he brings extensive experience in enterprise technology and networking, having led efforts that generated hundreds of millions in new revenue. Ogurek will manage a team of over 2,000, focused on advancing networking, indoor cellular, and security products. The segment has a potential market size of $23 billion, aligning with CommScope's strategic transformation program, CommScope NEXT.
CommScope (NASDAQ: COMM) and ViacomCBS (NASDAQ: VIAC) announced a significant milestone in their partnership with the launch of FAVE and the migration of DABL and select SHOWTIME channels to CDN IP distribution. This transition represents the first full migration from satellite to IP for ViacomCBS. The move aims to improve efficiencies, save costs, and enhance audience reach, especially as satellite bandwidth in the US declines by 60% in 2023. CommScope's DigiCipher Streaming system was crucial in this migration, ensuring zero service interruption.
CommScope has partnered with EKTRA to deploy the VIP7100 UHD set top solution to its Balticum TV customers in Lithuania. This innovative device, powered by the Android TV™ operating system, supports linear TV and various OTT streaming services, allowing users to convert existing TVs into smart devices. The partnership aims to enhance customer entertainment offerings, providing a seamless experience for accessing content like Netflix and YouTube. CommScope remains a leader in home networking solutions, focusing on technology advancements for enhanced connectivity.
CommScope announced that its VIP73xx RDK-based streaming solutions will participate in Netflix's DaVinci scaling partner program. This collaboration is expected to streamline integration and reduce time-to-market for launching Netflix services on RDK devices. The DaVinci program aims to enhance viewing options for service providers and expand Netflix's accessibility. CommScope's upcoming solutions, set to launch in 2022, will integrate multiple OTT services and include features like universal search and remote management capabilities.
CommScope has partnered with Foxtel to launch the iQ5 streaming set-top box, offering subscribers access to over 50,000 hours of content instantly. This innovative, 4K-capable device features a plug-and-play setup and a detachable 1TB hard drive for recording. The collaboration has been recognized with the Good Design Award in Australia. Foxtel's subscribers will benefit from improved personalization and user experience, while the iQ5 integrates popular streaming apps, enhancing viewing options.
Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV, HOFVW) has signed a multi-year, multi-million dollar agreement with CommScope (NASDAQ: COMM) to enhance the technology infrastructure of Hall of Fame Village powered by Johnson Controls. This partnership will integrate CommScope's advanced technology to improve guest experiences and provide advertising benefits. The agreement also grants CommScope intellectual property rights and branding opportunities throughout the venue, aiming to create a world-class destination in Canton, Ohio.
CommScope (NASDAQ: COMM) will host a Strategic Transformation Update on December 14, 2021, at 8:30 a.m. Eastern. The event, featuring management presentations and a Q&A session, will focus on the company's strategy and ongoing CommScope NEXT initiatives. Attendees can register via CommScope’s Investor Relations website. A replay will be available for a limited time post-event.
CommScope Holdings reported a 2.9% year-over-year decrease in third-quarter net sales to $2.105 billion, with core net sales up 6%. GAAP net loss widened to $124.2 million. Notably, revenue from Outdoor Wireless Networks surged 30.8% and Venue and Campus Networks rose 8.4%. The company generated $67.1 million in cash flow from operations. Challenges persist due to supply chain disruptions and rising costs. With over 100 initiatives under its CommScope NEXT strategy, management is focused on growth and operational improvements.
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