Alcatel-Lucent’s losses widen

Alcatel-Lucent yesterday posted a wider-than-forecast loss, missed revenue expectations and cut its 2010 operating margin target, buffeted by a tough market for telecommunications gear. Alcatel posted 2009 revenue of €15.16bn (£13.22bn), an adjusted loss of €56m, and a net loss of €524m. Shares plunged at the French-American group that has struggled to compete with larger European rivals Ericsson and Nokia-Siemens Networks, as well as rising low-cost Chinese companies Huawei and ZTE since it was formed in a merger in 2006.