Compaq's 1999 Innovate conference in Houston this week kicked off on a low note, as the company announced its first quarter profits would be around 50 per cent lower than expected (see earlier story).
Even as the conference began, Compaq CEO Eckhard Pfeiffer appeared to be having a bad day as company executives struggled and failed to connect a hall full of international press to a conference call with financial analysts.
The company is blaming lower than anticipated market demand and increased competitive pricing in the commercial PC sector and the announcement is a further confirmation of Compaq's earlier warnings that it had noticed a slowdown in the PC market in general.
However, despite issuing the profits warning company executives are still insisting on keeping quiet on the matter as Compaq is still in a quiet period in the run up to the release of its first quarter results later this month.
This week at its Innovate 1999 conference Houston, Compaq is expected to make a series of announcements based on its enterprise strategy.
According to reports, Compaq will not be making any services announcements, but is expected to make new launches in the storage area and that it is going to further invest in development of some of the technologies it inherited from Digital including Digital Unix - now Tru64Unix and the Alpha processor.
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