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Results from 'Magnificent Seven' duo show cloud revenue boosted by strong AI demand

Novatel Unveils MiFi 6620L Hotspot on Verizon Wireless

Zacks Equity Research

Novatel Wireless Inc. (NVTL) – one of the leading manufacturers of wireless data modems – unveiled the new Verizon Jetpack(R) Mobile Hotspot 4G LTE/XLTE MiFi(R) 6620L.

The multi-band MiFi 6620L is the first Verizon Wireless Jetpack which is capable of connecting nearly 15 devices to the Verizon XLTE network. It also allows over 20 hours of power back-up, after a single charge.

The MiFi device features touch-keys to easily display real-time data use meter, password access, and other important information. Moreover, it is powered with Qualcomm Inc.’s (QCOM) MDM9625 chipset which enhances battery life and improves LTE performance.

Furthermore, the gadget is integrated with Hacker prevention applications which include Anti-CSRF, Session Timeout, Block Retry Attempts, Password Hash. It is also integrated with parental controls, MAC Address filtering and Wi-Fi Privacy Separation.

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The MiFi 6620L device is priced at $49.99 and will be available online at Verizon Wireless from Sep 29. Starting Oct 2, it will also hit Verizon Communication Inc. (VZ) stores.

Novatel Wireless reported disappointing financial results for the second quarter of 2014. Total revenue came in at $37.3 million, reflecting a massive drop of 59.1% from the year-ago quarter. Segment wise, Mobile Computing Products generated revenues of $27.5 million, down a whopping 66% from the year-ago quarter.

Hence, we believe that the launch of such advanced products coupled with a strong client portfolio which includes the top three U.S. carriers namely, Verizon, AT&T Inc. (T) and Sprint Corp., will drive top line growth while moving ahead.

Read the Full Research Report on NVTL
Read the Full Research Report on T
Read the Full Research Report on VZ
Read the Full Research Report on QCOM


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