Nortel announces revised full year outlook

In the face of a continued economic downturn, Nortel Networks has revealed a preview of its third quarter results and revised down its full year outlook.

The company said it expected third quarter revenues of $2.3 billion for the period ending September 30. However, it said it expected total annual revenue to decline two to four percent from 2007. The Toronto-based equipment manufacturer also announced that a comprehensive review of the company's entire business plan was under way to determine how it could stay competitive in a changing and increasingly saturated market.

For more:
- see this release

Related Articles:
China telecom shuffle puts Nortel in catbird seat
Nortel takes it on the chin in Q2

Suggested Articles

Cisco thinks carriers will need to totally upgrade their backhaul networks because their current networks can’t handle the 5G speeds.

T-Mobile promised to heavily deploy 5G across Colorado; and Dish Network promised to add 2,000 more jobs as it builds out a greenfield 5G network.

Sprint today announced it has expanded its 5G service to cover about 16 million people within nine metropolitan areas.