Alcatel forecasts telecom equipment sector decline in 2003

Alcatel posted a fourth-quarter operating profit of €20m. However, for the year 2002 sales were down at €16.55bn from €25.35bn in 2001 and its forecast for the year 2003 were gloomy.

It predicted a first-quarter sales decline of 25% to 30% and a 15% sales drop across the sector for 2003.