By Will Sturgeon, 7 November 2001 08:14
NEWS Smartcard giant Gemplus has said falling demand for SIM cards has reached its lowest point and said it expects to start seeing improvements in the coming months. The company confirmed that orders for the past month have seen a marked increase, though it doesn't expect to see a significant improvement in time to rescue its fourth quarter results. However, the company is upbeat about its prospects for 2002 when it expects backed up inventory and demand to balance out. Inventory levels fell 21 per cent over the third quarter and cost-cutting measures are expected to meet an end of year target of $35.9m. Losses for the third quarter were E55.3m (£34.1m), with revenue falling 27 per cent to E226m (£140m).
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