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Technology Stocks : Lucent Technologies (LU)

LU 2.730

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3:59 PM EST

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To: KYA27 who wrote (11087)	11/12/1999 6:49:00 PM
From: hitesh puri	Read Replies (1) of 21876

Lucent expects to double optical production MURRAY HILL, N.J., Nov 12 (Reuters) - Lucent Technologies Inc <LU.N>, the world's largest telecommunications equipment maker, said Friday it expects to double production of its optical networking products by the end of fiscal 2000 to meet fast growing market demand. Lucent said it would increase production through the construction and expansion of its own facilities and through the use of contractors. Lucent doubled its production capacity in 1999 and it "may have to grow more than that this year," said Harry Bosco, Lucent's chief technical officer. Lucent shipped more than 1,000 wavelengths of optical multiplexing systems a week in 1999 and expects to ship more than 2,000 a week by the end of fiscal 2000, Bosco told reporters at a company meeting at its headquarters. The overall optical networking market was $18 billion in 1999 with the market growing 25 percent. Lucent's rival Nortel Networks <NT.TO> also recently said it would increase its optical networking production to keep up with customer demand. Lucent's stock was off 1-7/8 at 73-3/16 in Friday afternoon trading on the New York Stock Exchange. -Hitesh

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