TELECOM AND WIRELESS Cisco Warns Current Quarter Tougher Than Thought.(A)(CISCO)

DAVOS, Switzerland (Reuters) - Cisco says the current fiscal quarter looks morechallenging than a few weeks ago, but the longer-term outlook has improved.

The networking leader is being hit by reduced investments from its main customers in the telecom sector, CEO John Chambers said in a meeting at the World Economic Forum in the Swiss Alps.

"The business in January was a little bit slow. We said (in an investor meetingon Jan. 10) that the qu

arter surprised us a bit and that it was challenging; well, it's every bit as challenging as we thought it would be," Chambers said Sunday.

Hazy First Half

"It's more challenging than we anticipated," he added.

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