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Planet Technology faces currency headwinds but posts strong revenue, boosts R&D to drive growth

Taipei-headquartered networking equipment manufacturer Planet Technology is experiencing financial challenges due to recent fluctuations in the New Taiwan Dollar (US Dollar equivalent missing). The company reported that significant changes in the exchange rate against the US dollar have adversely affected its cost structure and profitability. With most of its global transactions settled in US dollars, the currency turbulence has added an extra layer of uncertainty to Planet’s financial outlook.