NEW YORK—Wireless streaming video company Emblaze Systems warned that its revenues for the year will be “substantially below market expectations,” blaming carriers’ tightened spending and the late introduction of video-capable handsets as underlying reasons.
The company didn’t provide concrete numbers for its revenues.
Emblaze said it will continue to grow its staff and business strategy next year, and that it still has US$350 million in cash to fund its operations, but the company said it will reduce management salaries by 12 percent to cut costs. The company also warned it would employ additional cost-cutting measures next year.
Emblaze said it expects revenues to become more predictable by 2003 as color handsets and multimedia messaging services become available.
