By Pia Heikkila, 20 July 2001 01:15
NEWS US-based chipmaker Transmeta has reported a net loss of $17.8m for its second quarter, blaming a slowdown of chip demand in Japan. Revenues for the period ended 29 June were $10.5m, compared to $354,000 during the same period last year. Last month, Transmeta halved its revenue expectations due to economic conditions in Japan where most of its chips are sold. The company also said it does not believe the market will pick-up by next quarter and said it won't recover by then. The announcement caused Transmeta's shares to nosedive to a 52-week low, trading at $5.31 per share.
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