Computing giants Dell and Ingram Micro have issued stark warnings on the state of the global IT sector, in the wake of growing financial pressures.
After a slew of economic shockwaves – caused most recently by the fall of US investment giant Lehman Brothers, the takeover of financial management and advisory company Merrill Lynch by the Bank of America, and the continued struggle of American International Group – both firms said demand is weakening within the IT sector.
"In Europe, we are not seeing the typical September bounce-back from the summer holidays,” said Ingram Micro Chief Executive Gregory Spierkel. “North America seemed to be relatively stable in the summer months, but we're experiencing broad-based softness in September."
Dell Chief Financial Officer Brian Gladden added: "This is not coming back the way we expected it to."
Both firms took a drop in share prices yesterday, Dell’s falling 11 per cent and Ingram Micro’s 2.7 per cent.