Psion shares dropped 23 per cent after the company issued a profit warning earlier today.
By Ron Coates, 27 October 2000 11:44
NEWS The company blamed foreign exchange rates for a 4 per cent decline in margins and said it would suffer from the worldwide component shortage. The majority of Psion sales are conducted in the euro, while components are priced in US dollars. Falling consumer demand for PC modem cards also contributed, although OEM sales are good. Rival Palm Pilot is also complaining about component shortages and increased costs
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