Motorola said it lowered its 2nd-quarter cellular handset sales f...
Motorola said it lowered its 2nd-quarter cellular handset sales forecast in Asia for 2003 due to the SARS (severe acute respiratory syndrome) outbreak and continuing excess levels of inventory from locally based handset manufacturers. It said it now expected…
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its 2nd-quarter sales to be $6-$6.2 billion, vs. its prior guidance of $6.4-$6.6 billion, and its earnings, excluding special items, to be about breakeven. The company said Asian issues also affected its semiconductor product sales to the wireless market. It said SARS “had a more pronounced impact on consumer purchases of cellular handsets than the company had assumed in its previous guidance.” However, it said it was “confident” once SARS was brought under control, consumers in Asia would “resume their purchases of cellular handsets at levels similar to those prior to the SARS outbreak,” but said the timing of a return to normal conditions was “uncertain.” The company said its cellular handset results in N. America, Latin America and Europe were meeting original expectations for the quarter.