This story is from January 29, 2022
PSU
Bharat Electronics Limited (BEL
) said on Thursday it has entered into a contract withHyperion
Global Group, an infrastructure telecommunication distribution company based in the US, to develop, manufacture and supply Internet of Things (IoT
) devices for the US market.As per the contract, BEL will manufacture and supply IoT devices worth $73 million to Hyperion during the first year of commencement of supply with a provision to negotiate and supply upgrades of the products, worth $365 million, in the next five years.“Hyperion’s next generation global telecommunications infrastructure devices are all set to revolutionise the way people live, learn, communicate, and consume data. This global infrastructure is the key to unlocking unprecedented levels of performance and speed made possible by the combination of IoT and 5G. Hyperion will accomplish this by strategically implementing a six-phase strategy to meet its customer demands,” a BEL statement read. The contract, the PSU added, pairs Hyperion’s need to provide advanced connectivity solutions with BEL’s engineering and manufacturing capabilities. MV Rajasekhar, director R&D, BEL, said BEL hopes to supply lakhs of IoT devices to Hyperion in the next five years.
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