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