SCI warning rocks PC sector
Says sales are weak for set-top boxes
Posted in Business, 14th September 2000 10:45 GMT
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The big PC manufacturers had their share price rocked yesterday after a profit warning from electronics assembler SCI Systems.
In spite of analyst reports claiming PC sales are on the up, Hewlett-Packard and Compaq lost 5.41 per cent and 5.56 per cent respectively from their stock price, on the announcement.
SCI Systems is the world's second largest contract electronics manufacturer that assembles components for the computer companies. HP is its biggest customer for desktop PCs.
SCI blamed the seasonal weakness in demand for consumer electronics and PCs as the reason it would miss Q1 earnings expectations. Set top box sales were singled out as a problem. SCI's shares tumbled by as much as 30 per cent during yesterday and finished 18 per cent down. ®
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