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Semtech Expects Lower Demand From Smartphone Makers, Shares Fall

Wochit 0:58 mins

Chipmaker Semtech Corp said it expects lower demand from its largest smartphone customers and forecast current-quarter results well below market estimates. Smartphone keyboard fans could soon find what they're looking for if rumors of the LG Enact QWERTY slider for Verizon pan out. Alleged photos and rough details point to a 4-inch display, 5-megapixel rear camera, and a five-row QWERTY keyboard. ZTE Corp, the world's No. 5 telecom equipment and smartphone maker, expects to post a third quarterly net profit for the July-September period. The result was thanks to cost-cutting measures and as the company shunned the low-margin contracts that led to it posting losses last year.

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