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LED maker Cree flags another gloomy quarter

Higher customer inventories and pricing pressure forced Cree Inc to cut its third-quarter revenue and margin forecast, signaling another disappointing quarter from the LED maker. Supply of light-emitting diodes, used to light mobile phones and television screens, has jumped in recent times mainly due to generous subsidies in China. That, along with pricing pressures, have led Cree to post revenue below market expectations in the last two quarters.

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