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What is important is that Tellabs' globally reputed high-margin digital cross-connect products are also showing a downtrend. Therefore, gross margin of the company suffered a setback in the previous quarter and is expected to remain at low levels in the near term.
Tellabs is facing serious problems with its key customer AT&T, which accounts for 35% of total revenue in 2010. The company is aggressively targeting the mobile Internet market since its legacy switching products are gradually losing relevance. In the meantime, we do not find any immediate catalyst for Tellabs.
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