Technology firm Laird loses almost half of its value after becoming latest victim of global slowdown in smartphone sales



Technology firm Laird lost almost half of its value yesterday when it became the latest victim of the global slowdown in smartphone sales.
The sell-off was sparked by a surprise profit warning and marked the worst single-day drop in the FTSE 250 firm’s history, wiping more than £420m from its stock market value.
Laird said it was ‘very disappointed’ by the performance in its mobile phone component division and expected full-year profits to be about £50m – well below the analyst consensus of about £75.5m.
The company, which dates back to 1824 and has reinvented itself from a shipbuilder to a... read more

 
19 October 2016 in Business, Views: 38
Source: Daily Mail
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