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Friday, April 22, 2005
Creative Technology Ltd, maker of the popular Zen and Zen Micro MP3 player ranges, has reported a 72% drop in quarterly profits. However sales rose 65%.
Net income was $15.9m, $0.18 a share; down from $57m or $0.68 a share a year earlier. Sales were $333.8m.
The results show the extent of Creative's current price war with rival Apple Computer. Both firms have dropped prices on key products on numerous occasions in recent months in an attempt to steal market share in the fast growing digital audio market.
Creative, based in Singapore, has thus far sold 2m MP3 players worldwide, making it the number two player in the market.
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Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.
Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.
Note that some listed sources or external links may no longer be available online due to age.
