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FRANKFURT (Reuters) - German solar company Q-Cells forecast a more challenging business environment in 2011 and said it would further reduce its exposure to its home market, the world's biggest, after posting solid fourth-quarter results.

Earlier this month, German peer SolarWorld, China's Yingli Green Energy and U.S.-based SunPower all gave a positive view on the ongoing business year, lifting shares in the sector which booked a record year in 2010, mainly due to ballooning demand in Germany.

But cuts in subsidies are expected to dampen demand, forcing industry players to look for growth in markets outside Germany such as the United States, Italy and France.

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