Computing giant Dell has warned that its revenues could be rocked by a worldwide shortage of hard drives following the flooding in Thailand.
With the country acting as a global production hub for many firms, the severe flooding in the area has rocked a number of industries.
The world’s third largest personal computer maker has warned that it may have to raise prices after the flooding prompted the closure of factories while pushing up the costs of hard drives.
It issued the earnings warning as it announced revenues of £9.7billion for the third quarter of 2011 – with net profits of £564million. With the revenues slightly missing expectations, and warnings of further troubles ahead, share prices fell by two per cent in after-hours trading in New York.
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Dell’s chief financial officer Brian Gladden told Reuters that the company may have to focus on “higher-end customers and products” following the flooding. In recent years it has already switched its emphasis to corporate needs with less focus on the home consumer. Its earnings from large companies increased by four per cent in the last quarter, while revenues from consumers dropped by six per cent.
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