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Synchronoss falls 13 pct on iPhone 3G setback

Tue Jun 10, 2008 1:11pm EDT

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SAN FRANCISCO, June 10 (Reuters) - Synchronoss (SNCR.O) said on Tuesday that its account activation technology will not be used with Apple Inc's (AAPL.O) new iPhone 3G, sending its shares down 13 percent.

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Synchronoss, which gets paid when U.S. iPhone customers activate their devices with AT&T Inc (T.N), said the loss of that business was already factored into the forecasts it gave last month and that prompted several brokerages to downgrade its stock.

"Synchronoss will not participate in the on-site, retail store activations associated with the 3G iPhone," the company said in a statement.

Shares of Synchronoss fell $1.73, or 13 percent, to $11.58 in early afternoon trade on Nasdaq. (Reporting by Scott Hillis, editing by Richard Chang)

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