Vitesse Semiconductor Corporation (VTSS) CEO, Chris Gardner speaks with TheStreet’s Janet Al-Saad in an exclusive interview to discuss the company’s turn-around strategy. The Camarillo, CA–based company hopes that an increased focus on Ethernet Everywhere applications for Carrier, Enterprise and Internet-of-Things (IoT) networks will enable the company to shift its focus toward a more lucrative and growing market segment. In Q4 the company posted a loss of $0.04 a share, an improvement over recent quarters. The “Internet-of-Things” is an industry buzzword which describes connectivity between objects – everything from remotely-operated household appliances such as smart thermostats to broader applications, such as smart energy grids. Enterprise IoT applications are a rapidly growing industry segment, expected to include approximately 25-30 million connected objects by 2020. Vitesse projects the market opportunity for this line of business may increase from about $1 billion today to $3 billion by 2020, supplanting the company’s mature product line.
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