Benzinga | Apr 5, 2021 07:08AM EDT

Franklin Wireless Stock Is Trading Lower Following Battery Problems

* Broadband data communications provider, Franklin Wireless Corp (NASDAQ: FKWL), was informed regarding battery issues in some of its wireless hotspot devices.

* The company, along with its battery and device manufacturing partners and carrier customers, were working towards a possible solution.

* The company had dispatched the first consignment of the new 5G broadband router to a tier-one carrier in South Korea in January.

* FKWL has gained 428% in the last year.

* Price action: FKWL shares traded lower by 2.37% at $21.09 in the premarket session on the last check Monday.