Palm Beach, FL 1/6/12 (StreetBeat) -- Weak demand for cheap cell phones has prompted RF Micro Devices (Nasdaq: RFMD) to warn analysts of weaker-than-expected revenues for the quarter that ended Dec. 31.In the update, the Greensboro-based wireless chip maker said revenue for the December would be around $225 million but that sales of "2G" components to China-based customers for entry-level handsets were below expectations.
RF Micro also said sales of components for more expensive 3G and 4G phones increased by 16 percent during the quarter. But shares were trading sharply lower Friday morning, off about 20 percent to around $4.53, their lowest point of the past year.
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