Zeev's Turnips Patch-No Politics (ZEEV)

[marketmaven]

Basing? We're going down, and fast IMTO

DoCoMo warns of 'huge' decline in revenues
By Michiyo Nakamoto in Tokyo
Published: May 7 2004 8:00 / Last Updated: May 7 2004 20:26

NTT DoCoMo, the world's second-largest mobile phone operator, warned on Friday that profits this year would be sharply lower than the market had expected, reflecting intense competition as operators try to lure users to third-generation technology. DoCoMo said operating profits were expected to decline by 25 per cent to Y830bn ($7.57bn) in the year to next March, from a record Y1,103bn last year, due to rate cuts, the costs of migrating to third-generation technology and a decline in average user revenues. This is more than 20 per cent below an analysts' consensus forecast of Y1,077bn in operating profits this year. "We are expecting a huge decline in revenues and income this year. It is inevitable in this transition period," Keiji Tachikawa, president, said.