By Julian Goldsmith, 14 September 1998 00:25
NEWS Toshiba has radically altered its fiscal predictions, slashing $1.1bn off sales for the fiscal year, $223m off recurring profit and $156m off Net income. The rethink for the current year puts all the figures well below year-end results for 1997. Toshiba blamed the price erosion on 64MB DRAM chips and other semiconductors. The economic turmoil in Asia and price decreases on PC peripherals were also blamed. IDC programme manager, Ian Darbyshire agreed that these factors will eat significantly into Toshiba's profits, but he pointed out that the company also had inventory problems. "This is why sales have been affected so badly, because there is a backlog of stock from the last fiscal year," he said. "Also people seem to be hanging back and waiting for Pentium II notebooks."
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