RadioShacked

31 January 2012 By Robert Cyran Follow @rob_cyran

RadioShack is the latest victim. The U.S. electronics retailer plunged 30 pct as Apple’s gadgets snaffle up a bigger chunk of the mobile market. RadioShack is largely a bet upon Android – and lesser carrier Sprint. With Apple keeping more of the spoils, that bet has now gone bad.

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RadioShack, the U.S. electronics retailer, warned on Jan. 30 that profits for the fourth quarter would disappoint. The electronics retailer said it expects earnings per share of $0.11 to $0.13, compared to $0.51 per diluted share reported in the 2010 fourth quarter.

The company blamed a shift in sales toward lower-margin phones as well as poor results from cellular carrier partner Sprint.

RadioShack will suspend repurchases of stock. The firm’s shares fell some 30 percent in early morning trading.

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