Avnet said the weak profit forecast reflects the lower revenue in the technology solutions group, lower profits margins in the Western regions in electronics marketing due to a weaker sales environment, and a greater-than-expected mix shift in electronics market, with better sales in the lower-margin Asia region more offset by weaker sales in higher-margin Western regions.

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Chua says she and her team focused on the region, which helped offset the storm spreading from the West.

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The company will now attempt to expand its market share in Europe, the Asia-Pacific region and Africa to offset the predicted losses in the U.S., the company said.

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At EM, although overall sales were relatively in line with initial expectations, the lower-margin Asia business had a stronger than expected quarter, which was offset by a pronounced slowdown in the Americas region.

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In theory, the region should provide it with boundless opportunities to offset the decline in its population.

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Overall, we expect Asia to remain the key growth driving region for Philip Morris, as volume and pricing gains in Indonesia are expected to more than offset sharp volume decline in the Philippines.

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