Alcatel-Lucent (NYSE: ALU) believes that China and India are two regions they need to pay attention to because both hold "very attractive" growth possibilities.
Speaking during a Bloomberg Television interview in Kuala Lumpur, Alcatel-Lucent's CEO Ben Verwaayen said that "Asia, for the telecom market, is to a large extent what happens in China and India."
One Asia-Pacific country Verwaayen is keen on harvesting new growth in is China, where weak sales contributed to a wider-than-expected loss in its Q2 2010 earnings.
That's not to say that Alcatel-Lucent has been completely ineffective in the China market. In July, the vendor won Fiber to the Home (FTTH) contracts with both China Telecom and China Mobile.
Still, Alcatel-Lucent will have its work cut out for them to reverse the tide in Asia Pacific where revenue declined 26 percent to $887 million due to slow sales in China. On the brighter side, India's sales were up in the second quarter.
- Bloomberg has this article
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