Sep 11, 2001 Chief Executive Michael Marks admits however that the global tech downturn is taking its toll on the company. He states, "We are extremely bullish about our business. We expect a record revenue quarter this quarter. We expect revenue up again next quarter. We expect next year to be a really big year. This severe downturn, or recession or depression, from a technology standpoint is clearly driving more demand for outsourcing."
Indeed, overall the market has turned on tech companies. Flextronics, strengthened in part by the lucrative Xbox account, claims to be weathering it better than most, "Most of the end markets are down by 40 to 60 percent, and we are going to have a record revenue quarter this quarter. When we talk about the end markets being terrible, don't read that as terrible for us."
The company has also announced via a newsletter that the company fully expects to meet its North American targets as well as those in Europe and Japan. To that extent, the company revealed that final assembly of the Xbox console began in late August.
