Acer axes tablet production

Massive reduction in forecast tablet sales
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Acer has dramatically cut the firm's target for tablet shipments by almost 60 per cent as it comes to grips with unsold inventory.

Acer chairman Wang J.T. Wang told a shareholder meeting that Acer was slashing the firm's tablet shipment target from five to seven million down to less than three million this year according to a Reuters report.

Wang claimed that the third quarter would be "considerably more stable". However with a string of widely missed shipment forecasts, the financial markets showed few signs of believing Acer with a share price 30 per cent down following an announcement of a similar reduction in sales.

The firm's Windows and Android powered tablets have met with mixed-reviews with the New York Daily News calling the Iconia Tab A500 a 'little too thick and heavy to be a contender in tight tablet market.'