Avenir Telecom reported last night that its half-year sales had almost halved, causing its share price to fall by over 10% on the Paris Bourse.

The designer and distributor of cell phones and mobility accessories under the Energizer brand reported sales of 7.3 million euros for the period April 1 to September 30, compared with 13.6 million euros a year earlier.

The group explains that it suffered from the sharp drop in orders from its former main customer, which had itself lost its two biggest contracts, and from the discontinuation of its laptop and tablet sales business.

Apart from these two factors, the downturn in business remained "under control", in line with the decline in the smartphone market, the company assures us in a press release.

With available cash of 24.3 million euros, Avenir Telecom says it intends to continue investing in feature phones and product diversification around its new brand.

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