NEC cuts cellphone shipment forecast by 8 pct
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Japan's NEC Corp. (6701.T) said on  Tuesday that it now expected to ship 5.5 million mobile phones  in the year to March 2007, down 8 percent from its previous  estimate of 6 million phones.
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AT&amp;T Corp. (TN: Quote, Profile, Research) will cut about 7,000 jobs and reduce the value of its assets by $11.4 billion due to its retreat from traditional consumer telephone services, the company said on Thursday.
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Motorola Inc. , the world&#39;s  second-biggest mobile phone maker, said it expects to cut an  additional 4,000 jobs, bringing the total to 7,500 this year,  as it works to reduce costs to return to profit.
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SAN JOSE, Calif. - Japan&#39;s NEC Electronics Corp. is expected to miss its operating profit forecast for the year by 40 per cent due to the slowdown in the IC industry.
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Sprint Nextel, the No. 3 U.S. mobile service, said it will cut about 4,000 jobs and predicted further pressure on its ability to turn a profit in 2008.
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AT&amp;T Corp., the largest US long- distance telephone company, will eliminate 20 percent of its workforce this year and write down $11.
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Alcatel-Lucent  on Friday said it would cut about 12,500 jobs over three years, more than previously announced, as it reported a fourth-quarter net loss and forecast a drop in first-quarter revenues.
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Nortel Networks Corp.   will slash 2,900 jobs, or 8.5 percent of its workforce, over the next two years and shift another 1,000 employees to lower-cost locations like China, India and Mexico as North America's biggest maker of telephone equipment struggles to shore up its profits.
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Palm Inc.  cut  second-quarter profit and revenue forecasts on Monday, blaming  a delay in shipping its new Treo 750 smartphone in the United  States.
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Palm Inc.  cut its second-quarter profit and revenue forecasts on Monday, blaming a delay in shipping its new Treo 750 smartphone in the United States.
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- Motorola Inc.  said it expects to cut an additional 4,000 jobs as it continues to lower costs.
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The prospect of a deal between Sprint and Nextel Communications sparked concerns on Friday about a shrinking U.S. market for mobile network equipment, sending shares of Nextel's key supplier Motorola Inc.  down almost 8 percent.
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Sprint Nextel Corp  reported  deeper than expected subscriber losses on Friday and said it  would cut about 4,000 jobs, raising fears of a slowdown in the  U.S. wireless industry, and its stock dropped nearly 25  percent.
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AT&amp;T Corp. (TN: Quote, Profile, Research) will cut another 7,400 jobs and reduce the value of its assets by $11.4 billion, spurred by its retreat from traditional consumer
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Plus:  EarthLink trims outlook...AT&#38;T posts $7.1 billion loss...Lucent sees first profitable year since 2000...EMC issues sunny report.
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NEC Corp., Japan's third-largest  electronics conglomerate, reported a steep fall in quarterly  profit and cut its full-year outlook on Thursday, battered by  sluggish demand for microchips and mobile phones.
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Cingular Wireless LLC, the nation's largest cell phone company, will cut about 10 percent of its 68,000 jobs over the next 12 to 18 months as it combines operations with the recently acquired AT&T Wireless, Cingular's chief executive said Tuesday.