Nokia Shares Slump In Wake Of Texas Instruments' Warning |
| CNNMoney.com - Mar 11, 2008 |
Shares of Nokia, the world's top maker of mobile phones, dropped as much as 7% Tuesday, retreating after components supplier Texas Instruments Inc. warned of deteriorating conditions in the wireless industry.
Nokia (NOK) shares dropped below 20 euros ($30.77) for the first time in more than a month, as Texas Instruments (TXN) lowered first-quarter earnings and revenue estimates, blaming demand from wireless customers, and one customer in particular.
"We have other customers also that haven't fully lived up to initial expectations that we had, but it is mostly a particular customer," said Ron Slaymaker, manager of TI's investor relations, on a call with analysts.
Slaymaker insisted the problem isn't market share, meaning that its problems aren't simply a matter of a customer shifting business elsewhere.
Read Full Article from CNNMoney.com
- Posted: 2008-03-11 10:39:33
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