Elcoteq: profitability guidance remains despite KIN announcement

Sharp has informed Elcoteq that the further deliveries of the "KIN" smart phone product lineup will be put on hold. The EMS-provider has already delivered to Sharp the KIN smartphones for the US markets with revenues amounting to more than one third of the original guidance for Sharp business in 2010 (EUR 150 Million). Deliveries for the European markets were scheduled to start later in the Autumn. As communicated earlier, Elcoteq expects the operating profit to turn positive on the second half of 2010.