However, while Nortel had previously forecast growth in the low- to mid-single-digits, faster than the market as a whole, it now acknowledges that the overall communications market will grow faster than it will be able to achieve.
Mired in an accountancy scandal that requires restatement of its figures for the past three-and-a-half years, and faced with a class action suit in the US courts, the company’s acknowledgement that it is losing market share adds a new dimension to its problems.
