France Telecom's profit cuts: A sign of more to come

France Telecom issued a profit warning today, and analysts expect more profit warnings to come from global telecom operators as competition intensifies throughout Europe in broadband, fixed-line and wireless. France Telecom said it would launch a series of new restructuring schemes--including new services and a simplified brand portfolio--aimed at winning new clients and improving
subscriber loyalty. France Telecom has seen cut-throat competition from rivals such as Neuf Cegetel Group, Bouygues Telecom, Iliad, cable operator Noos and Telecom Italia.

For more about France Telecom's profit warning:
- read this article [1] in the Wall Street Journal (sub. req.)