Alcatel-Lucent Writes Off $5 Billion in Assets

Alcatel-Lucent has reported its eighth quarterly loss as it wrote down the value of its assets by over US$5 billion. The firm recorded a loss of €3.89 billion (US$5 billion), compared to a loss of €2.58 billion (US$3.35 billion) a year earlier. The company has now written down its assets by around €8 billion (US$10.3 billion) since Alcatel brought Lucent in 2006.For the full year, the company reported revenues of €16.984 billion (US$21.9 billion), down 4.5% year over year (down 1.1% at constant currency), and a net loss of €5.215 billion (US46.7 billion).

Alcatel-Lucent has started to implement its plan to introduce more focused R&D and streamline its product portfolio, starting with mature technologies and the refocusing of its WiMAX investment on the enhanced wireless DSL market opportunity, while at the same time significantly boosting investments in LTE.

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