TELTONIKA 2023: YEAR IN REVIEW
#2023, #events, #awards, #corporatenews
As the year comes to an end, we traditionally reflect on what we have achieved over the last 12 months and what we are proud of.
In 2023, the name Teltonika was heard more than ever in Lithuania and around the world. Some learned about us at the beginning of the year when we announced our cooperation with Taiwan's Industrial Technology Research Institute (ITRI), making Lithuania the only country with which Taiwan, a leader in the semiconductor chip industry, will share its technology. For others, Teltonika's name came to light when we contributed almost €1.5 million to the Radarom! campaign in support of Ukraine.
In 2023, we maintained our focus on developing and launching IoT products that people around the world use every day. With the opening of our new office in Turkey, we now have offices in 21 countries and a global team of around 2,500 wonderful colleagues. Looking at some key performance indicators, we launched around 30 new products during the year and produced 6 million IoT devices in our two production sites in Vilnius and Molėtai.
Below, we share the most important events and achievements of the Teltonika company group in 2023.
The highlight of the year
We started the year on a high note by announcing a technology cooperation agreement with ITRI. This is one of the most crucial strategic milestones in the history of the Teltonika group of companies and the main highlight for us in 2023.
Under the agreement, Teltonika will obtain licences for semiconductor chip manufacturing technologies and devices developed by ITRI as well as get assistance in preparing detailed plans and engineering training for employees. These are fundamental parts of preparing for the implementation of semiconductor chip projects in Lithuania.
The first phase of the collaboration was successfully completed during the year. It included a feasibility study that thoroughly explored Teltonika's capabilities and ITRI's strategic industrial recommendations for the design, manufacturing, packaging, and testing of semiconductor chips and the production of power modules. Detailed technology designs and building permits will be ready in the next 1.5-2 years, while the installation of the production facilities needed for the semiconductor chip industry could still take around 2-2.5 years.
Construction of two new factories
In Liepkalnis, Vilnius, we have begun the development of a huge 50-ha technology park with more than ten new facilities and 6,000 jobs, investing a total of €3.7 billion. In 2023, we have already started two new factories here.
One of these projects is a PCB (printed circuit board) plant. It will be the first new PCB plant built in Europe in two decades. The 33,000 m² plant will have the highest level of automation currently available and will employ around 250 highly skilled workers in the factory and administrative areas. The plant is expected to be operational by early 2025. This project has a budget of €143 million.
Another symbolic time capsule with a letter to future generations was buried at the construction site of a new electronics assembly plant, which will create 700 jobs. The plant will manufacture IoT products developed by Teltonika and provide contract manufacturing services. Production capacity will exceed 18 million products per year. The Teltonika company group is investing around €75 million in this project.
Aid to Ukraine
Helping others is Teltonika’s eternal value. We are dedicated to not only meeting the needs of our clients and partners by providing high-tech IoT solutions but also supporting communities and people who need our help. Between 2017 and 2023, Teltonika has donated around €10 million to various charitable causes.
This year, we have donated around €2 million, most of it towards helping Ukraine. The most notable campaign was “Radarom!” organised in February, marking the anniversary of the outbreak of war in Ukraine. Lithuanian people and businesses raised €14 million to buy surveillance radars to protect Ukraine's airspace, and the Teltonika company group made the largest contribution of €1.45 million.
In the middle of the year, we also joined another initiative to provide Ukrainian war orphans with a summer holiday in Lithuania. Nearly 400 Ukrainian children visited the country this summer as a joint initiative by the “Stiprūs kartu” and Blue/Yellow organisations. The most generous supporter of this charitable cause was Teltonika, contributing €200,000.
For the recent support to Ukraine and his long-standing patronage, Arvydas Paukštys, the founder and president of the Teltonika company group, was awarded the Jonas Karolis Chodkevičius Gold Medal "For the State Strengthening Activities". The award was granted by the Jonas Karolis Chodkevičius Charity and Support Foundation.
The production of TeltoHeart
In 2023, Teltonika developed 26 new products. One of the major product news was the start of production of TeltoHeart, a multifunctional smart medical bracelet. This device is designed to help people with heart rhythm problems.
According to the creators of this innovative device, it is unique in terms of its technical capabilities. This medical-grade smart wristband can automatically detect atrial fibrillation and other arrhythmias, such as when the pulse suddenly drops or rises more than normal. If the wristband detects an arrhythmia, or if the person feels unwell with their pulse slowing down or rising, they are advised to record a six-derivative electrocardiogram, which allows the doctor to make a diagnosis and prescribe the necessary treatment.
Launch of the Fleet Telematics platform
We currently offer more than 60 telematics products to our customers, and the most noteworthy development of Teltonika Telematics this year was the launch of the innovative Fleet Telematics platform. The new FT platform, which is an evolution of the FMB platform introduced in 2018, is powered by our latest main chipset, providing unparalleled performance, new capabilities, and competitiveness for our customers and business partners.
The FT platform-based tracking devices offer 1.4 times better positioning accuracy and four times lower power consumption, use two times more satellites, and are going to support the Dead Reckoning feature. With an IP69K-rated waterproof casing that comes with selected new trackers, customers can count on robust protection and maximum durability even in the harshest environments.
Teltonika Networks highlights
Teltonika Networks, a manufacturer of professional networking equipment, has been ranked as one of the world's top three vendors of routers and gateways by revenues and shipments this year, according to a market report by Berg Insight.
It was also a memorable year for the company because of the first Lithuanian two-day Tech SummIT conference, which was dedicated to IoT engineering and fostering close relationships with our local engineering community. The event featured workshops, presentations, a behind-the-scenes look at our production facilities, and an exclusive Q&A session with Teltonika Networks CEO, CTO, and key R&D and manufacturing specialists.
Regarding networking products, we launched our first 5G router, the RUTM50, for the North American market. We also entered a completely new product category with the launch of the TAP100 and TAP200 wireless access points.
The first year of operation of Teltonika Technology Centre
The technology centre in Molėtai has been successfully running robotic testing, assembly and production of electronic devices since its opening at the end of 2022. It manufactures network equipment, EV chargers, and, since May, telemedicine equipment, particularly smart bracelets that detect atrial fibrillation. Teltonika's products manufactured in Molėtai are exported to more than 160 markets around the world.
The investment in the technology centre has been the largest in Molėtai's history, amounting to €34 million. For this, Teltonika was given the Investor of the Year title at the Investors' Forum event. The Investor of the Year award, one of the most important awards in Lithuania, is granted for contributing to the development of the national economy and the creation of new jobs.
The technology centre received several other awards this year. In the Baltic Real Estate Awards 2023, Teltonika's production plant in Molėtai was selected as the best industrial project. The centre, built in just nine months, impressed the international jury with its innovativeness, design choices, quality, geographical proximity, excellent integration into the life of the city's community, and environmental impact reduction solutions.
Moreover, at the end of the year, our centre in Molėtai was recognised as the best project in the category of commercial real estate in the competition “For Sustainable Development”.
Visit by the President of the Republic of Lithuania
This year was once again busy with visits. Most of our guests were drawn to the newly opened technology centre in Molėtai, which received around 1000 visitors. In spring, more than 20 foreign ambassadors and representatives of the Ministry of Foreign Affairs came there.
In the autumn, Molėtai welcomed the President of the Republic of Lithuania, Gitanas Nausėda. During his visit, G. Nausėda and his team were given a detailed tour of the technology centre and a presentation of Teltonika's products. The President emphasised that this project in Molėtai is a shining example of a regional investment.
“The high-tech company is becoming the lifeblood of the entire Molėtai district, not only creating new jobs for the people of Molėtai but also attracting highly qualified specialists from all over Lithuania. Teltonika's investment in Molėtai is an example of a fundamental change for the future of the whole region,” said the President.
Incentives for the young generation
We also did not forget about the younger generation. This year, we held more than 100 meetings with students from different cities and districts who visited our factories in Vilnius and Molėtai to learn about IoT product manufacturing and engineering careers.
In cooperation with Lithuanian universities and colleagues, we continued our scholarship programme. The third generation of first-year students from different Lithuanian universities can now enjoy scholarships of €3,000. We believe that this will be a great incentive for young engineering and information technology talents to continue to pursue their interest in high technology and to reach the heights of their education and career.
Best employer awards
Teltonika is committed to the well-being of its employees and to providing them with work conditions that enable each team member to feel a sense of purpose in their daily activities and to be fairly rewarded for their work based on the value they create.
We are delighted that our efforts have been recognised this year with multiple awards. CVbankas.lt named Teltonika Employer of the Year. Also, CVonline.lt acknowledged us as one of the top 5 Lithuanian companies in two categories, and the media group Verslo žinios selected Teltonika IoT Group as one of the top three companies in The Most Attractive Employer 2023 election.
25th birthday anniversary
We have been writing our history since 1998, so 2023 was a jubilee year for Teltonika – we celebrated our 25th birthday! Technology and innovations that we only dreamt about a quarter of a century ago are now part of our everyday lives. We always look into the future with faith and hope that something even more spectacular lies ahead. But sometimes, we forget that we are creating this future right now, step by step, with trust, determination, and ambition.
We are the future! This message was spread throughout Žalgiris Arena, where a huge crowd of colleagues celebrated the anniversary of Teltonika. Together, we celebrated our work and achievements, enjoyed wonderful performances by well-known Lithuanian artists, danced, and had a lot of fun.
For everything we have accomplished in the past 25 years, we would like to thank all of you who have come along on this incredible journey. Thank you to our employees, our partners, and our clients.
Happy New Year!