Market News

SAN JOSE – Sun Microsystems will cut up to 18% of its global workforce – an estimated 5,000 to 6,000 jobs – in a move aimed at cutting annual costs by $700 million to $800 million.
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STAMFORD, CTGartner Inc. today issued a revised 2009 capital spending forecast of $39 billion, and dropped its capital equipment sales forecast to $26.8 billion.
The revised figures are 17% and 18%, respectively, lower than 2008’s predicted levels.
Last month, the research firm forecast capital expenditures of $41.1 billion and total equipment spending of $30.5 billion.
On a conference call today, Gartner's analysts said the forecast sales would be at their lowest levels since 2003.
Gartner suggested buyers tighten component inventories by reducing order sizes and ordering more often.
NEW YORK — The financial turmoil will dampen worldwide technology spending in 2009, according to research firm IDC. However, the lack of a tech "bubble" will hasten the rebound, the firm predicts.

The research firm revised its growth outlook for worldwide IT spending to 2.6%, down from an August forecast of 5.9%. The firm's US spending outlook was slashed to 0.9%, down from 4.2%, while Japan and Western Europe will grow around 1%.

Despite the economic downturn, IDC continues to expect spending on technology products and services to continue to grow next year — just at a slower pace. "IT is in a better position than ever to resist the downward pull of a slowing economy," said IDC chief research officer John Gantz in a press release, because it "remains critical to achieving further efficiency and productivity gains."

The firm expects Emerging markets in Central and Eastern Europe, Africa, Latin America and the Middle East to continue to do well.

IDC growth rates approaching 6 percent in 2012. Even so, the research firm estimates that the industry will lose more than $300 billion in revenue due to slower spending over the next four years.

Nevertheless, designers and manufacturers are better positioned than they were in 2001, the firm says, when the tech bubble brought about by excess inventory took several quarters to correct. With no bubble this time around, slower spending won't have the same deep effect, and will rebound more quickly.
MANILA -- Electronics exports, the leading manufactured product in the Philippines, fell 2.7% in September, according to government data.

Electronics make up 58.4% of the nation's sales.

The country exported $2.6 billion worth of electronics goods in September, with US the leading destination. 
BANNOCKBURN, IL– IPC, in collaboration with the Information Technology Industry Council (ITI) and the Consumer Electronics Association (CEA), recently commented to the Consumer Product Safety Commission regarding the Consumer Product Safety Improvement Act (CPSIA).
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HELSINKI — Nokia Siemens Networks will lay off 1,250 employees in Finland and Germany as part of a previously announced cost-cutting plan. The cuts bring the total to 7,250 workers sacked since June 2006.

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