Satellite radio receivers slow movers

Retail sales of satellite radio receivers were down again in July for both Sirius and XM. Bank of America analyst Jonathan Jacoby reports that Sirius continued to outsell XM at the retail level, but its sales were down 30% from a year ago. XM sales were down 32%, for a satellite radio industry decline of 31%. Both companies have said that their primary focus now is OEM sales through car dealers to drive growth. Jacoby is projecting that retail sales will decline 15% for Q3, although he notes that current trends are worse than that.

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