Telit Communications hit by lower selling prices

10th Jul 2009 07:51

Wireless technology provider Telit Communications said it is seeing a continued downward trend in revenues despite higher sales as selling prices of products for connecting mobile phones fall more than expected.The firm expects to post revenues of €28m for the six months to June 30, with a 25% growth in the number of units sold unable to offset declining prices.However, Telit said it saw an improvement in revenues in May and June, a trend that should continue for the rest of the year.Results for the full year are expected to be below market expectations but should be above those of 2008, the firm said.