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Article: Sunny side up: Don't tell Latin America's telecom vendors that times are bad. They just won't hear of it. (Connection).
- Article from:
- Revista Latin Trade
- Article date:
- February 1, 2002
- Author:
CopyrightCOPYRIGHT 2002 Freedom Magazines, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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An uglier scenario would be hard to imagine-mass layoffs, eye-popping write-downs and a whiff of scandal as shaky financing deals literally tear apart some of the darlings of the global telecom equipment biz. Wireless leader Ericsson saw sales in Latin America fall by 50% in the third quarter. AT&T spin-off Lucent creaks through a multibillion restructuring even as it warned of a 35% quarterly decline in global revenue. Even hardware giant Cisco, the sector's bellwether, reported a 38% slide in the first fiscal quarter of 2002.
Add a sudden worldwide economic downturn and bearish capital markets and the outlook turns nightmarish. Yet Latin America's telecom ...