Motorola (MOT) was down 3.6% in early trading. The mobile phone company is due to report earnings today amid concerns about the market for handsets. On Tuesday, Nokia (NOK) - Get Nokia Oyj Sponsored ADR Report reported disappointing sales, sending its stock and that of rivals Motorola and Ericsson (ERICY) tumbling. Today, analysts in Europe for Deutsche Bank and Credit Suisse First Boston lowered their forecasts for mobile phone sales due to the slowing economy. Nokia was down 3.7% and Ericsson fell 5.2% after hitting a 52-week low of $10.13. Communications chipmakers were also lower, with RF Micro Devices (RFMD) down 4.1% and TriQuint Semiconductor (TQNT) down 5.3%.

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