Ailing AMD sheds Communications Group

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Ailing AMD sheds Communications Group

Advanced Micro Devices says it intends to sell off its Communications Group in a move to counter mounting losses.

The chip maker made the announcement following the posting of a $105.5 million loss for its third fiscal quarter.

AMD has hired the investment firms of Donaldson, Lufkin, & Jenrette and Salomon Smith Barney to help locate a buyer.

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