The ice is beginning to melt but not has not cracked - global service provider switching and routing (S&R) equipment revenue was $2.7 billion in 2Q09, up 8% sequentially but down 22% compared to the same quarter last year. Versus 2Q08 IP/MPLS edge sales were down 16%, IP/MPLS core revenues were down 31%, and ATM sales were down 36%. Ovum believes the recent free-fall has ended and the market has stabilized. We have forecasted 2009 sales at $11.5 billion, down 14% from 2008; first- and second-quarter results bring this market to 46% of our forecast for 2009.
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