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Fujitsu-Siemens fails to meet targets

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09:13 CET+01:00
Prominent European computer manufacturer Fujitsu-Siemens has announced it won't reach upcoming sales targets, which could mean problems for the joint venture.

Leading European computer manufacturer, Fujitsu-Siemens, will not meet sales targets it fixed for the 2008-2009 fiscal year, a press report said Thursday.

“I think we will have to push back our targets by a year,” company boss Bernd Bischoff told the Sueddeutsche Zeitung.

Fujitsu-Siemens had aimed for sales of 10 billion euros (15 billion dollars) in the year to March 2009, and net profit of 250 million euros, but has been stymied by fierce price competition in the sector. The news could raise questions about the future of the Japanese-German joint venture, which is based on a contract that expires at the end of next year.

Siemens has decided to trim unprofitable units and has been disappointed in results from the computer maker, which was to release 2007/2008 results in April.

Fujitsu-Siemens has tried to carve out a niche for itself by offering made to order computers, giving customers the chance starting in May to specify which components and software programmes they want. The machines are then to be assembled within three or four days and delivered.

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