Sitronics
TypeJoint-stock company
Founded1997
Headquarters
Moscow
,
Russia
Revenue31,480,000,000 Russian ruble (2012) Edit this on Wikidata
ParentSistema
Websitesitronics.ru

Sitronics (Russian: Ситро́никс) is a Russian microelectronics company which is owned by Sistema Holdings. It's main products are electronics fabs, R&D facilities NIIME and Mikron in Zelenograd, and other facilities elsewhere in Eastern Europe.

Despite losses in 2007, the company would still remain a part of Sistema as it was expanding its product portfolio,[1] bidding for large telecommunications contracts including a $1 billion deal to build a network in Saudi Arabia.[2]

History

Sitronics was founded in 1997 in Zelenograd, initially being named "Scientific Center". By 2000, the company would be a fully vertically integrated company, being organized into three business streams: Telecom Solutions, Information Technologies, and Microelectronic Solutions.[3] The first focused on the production of software and hardware for fixed and mobile communications operators and corporations in the communications services sector while the second handled consulting, enterprise management systems, system integration, distribution, training, and after-sales services, among others.[3] The third stream specialized in the designing, manufacturing, and sale of microelectronic products such as computer chips and smart cards.[3] Mikron - a division of this third unit - was focused on the development of RFID labels, reportedly producing 50 million tags monthly in 2013, making it Russia's largest producer of the technology.[4]

In January 2005, its headquarters was moved to Moscow. By November 2005, the company would rename, gaining its current name. It began an aggressive internationalization strategy based on partnerships with regional and national tech companies including but not limited to: Cisco Systems, STMicroelectronics, Infineon, Giesecke+Devrient, Siemens, Motorola, Oracle, Intel, Sun Microsystems, and Microsoft.[5] On February 7, 2007, the company placed an IPO on the London Stock Exchange.[6] Through a series of acquisitions, it became a leading Russian microelectronics company, earning more than $1 billion in the first three quarters of 2007.[7] The company would be delisted from the London Stock Exchange in 2012.[8]

On August 2021, Sitronics acquired a 71.06% stake in the space-tech company, Sputnix.[9]

Telecommunications

Sitronics produced mobile phones.[10] launching the first smartphone that featured the GLONASS technology in 2010.[11] One of its most important ventures overseas was a joint-venture with ZTE Corporation, holding 51 percent to the latter's 49 percent, enabling the former to migrate its mass manufacturing and production capacity from Europe to Southeast Asia.[12]

See also

References

  1. ↑ "Russia's Sitronics sets new product strategy". Reuters. 12 February 2008.
  2. ↑ "Sistema Plans to Borrow $10 Billion to Expand Network (Update1)". Bloomberg.com. Archived from the original on 2012-10-20.{{cite web}}: CS1 maint: bot: original URL status unknown (link)
  3. 1 2 3 Panibratov, Andrei (2013). Russian Multinationals: From Regional Supremacy to Global Lead. Oxon: Routledge. p. 85. ISBN 9781136474521.
  4. ↑ "Russian Tag Company Reaches for a Worldwide Audience - 2013-03-26 - Page 1 - RFID Journal". www.rfidjournal.com. Retrieved 2019-02-01.
  5. ↑ Marinov, M.; Marinova, S. (2011-11-30). Internationalization of Emerging Economies and Firms. Springer. ISBN 9780230363663.
  6. ↑ Langley, Andrew; Rousek, Leos (22 January 2008). "Russia Has a Tough Sell". Wall Street Journal – via www.wsj.com.
  7. ↑ "Sitronics :: Press Releases". 5 June 2008. Archived from the original on 5 June 2008.{{cite web}}: CS1 maint: bot: original URL status unknown (link)
  8. ↑ "Sistema Gets Full Control of Sitronics". Moscow Times. Retrieved 27 August 2017.
  9. ↑ "Sitronics group приобрела производителя микроспутников" (in Russian). Kommersant. 2021-08-25.
  10. ↑ "Sitronics phones and smartphones".
  11. ↑ Miller, Ross (December 30, 2010). "Russia's first GLONASS phone an 'iPhone 4 competitor,' except not really (video)". Engadget. Retrieved 2019-02-01.
  12. ↑ Marinov, Marin; Marinova, Svetla (2013). Emerging Economies and Firms in the Global Crisis. Hampshire: Palgrave Macmillan. p. 323. ISBN 9781137277466.
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