Altron gives up on the Altech Node

Altron is selling its Altech Node business due to a “poor uptake by retail customers”, the company has announced.

The Altech Node was launched in September 2014, and marketed itself as a video on demand and home automation system.

At launch, the Node decoder-unit sold for R3,499 – including a satellite dish and installation – and required a subscription fee of R299 per month. New-release movie rentals cost R15 to R25 through the platform.

“Altron TMT has identified a third party, with whom it is at an advanced stage of negotiations, to acquire this business. It is anticipated that Altech Node will be disposed of in the short-term,” said Altron.

The announcement was part of a trading statement by the company, in which it stated basic earnings per share for the financial half-year ending 31 August 2015 are expected to be more than 160% lower.

Altron is also in the process of disposing of Altech Autopage’s GSM subscriber bases.

Altron’s interim financial results for the half-year ending 31 August 2015 are expected to be announced on or about 7 October 2015.

More on the Altech Node

Altech Node gets Warner Bros. movies

Altech Node, Autopage lead Altron to R60 million loss