Thursday, April 27, 2017
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
FCC Proposes to Roll Back Regulation of the Internet
Twitter's Revenue Drops Despite User Growth
Western Digital Ships Fourth-Generation Ultrastar He12 12TB Hard Drive
Verizon's Latest Unlimited Data Plan Costs $80
LG Display Posts Record Earnings on OLED TV Sales
Google co-founder Sergey Brin Is Building Airship
Uber Faces New Setback In South Korea
Uber Takes to The Skies With Flying Taxis by 2020
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > Mobiles > Nokia P...
Last 7 Days News : SU MO TU WE TH FR SA All News

Thursday, July 19, 2012
Nokia Posts Loss On Slumping Smartphone Sales


Nokia's net loss was tripled in the second quarter on slow sales of smartphones in the U.S. market, in which the company is struggling to regain ground lost to rivals including Apple and Samsung.

Nokia posted a net loss of €1.41 billion ($1.72 billion), compared with a loss of a €368 million in the same period last year. Overall sales were down 19 percent to €7.54 billion, while smartphone sales dropped 34 percent to €1.54 billion.

"Nokia is taking action to manage through this transition period," said Stephen Elop, Nokia CEO. "While Q2 was a difficult quarter, Nokia employees are demonstrating their determination to strengthen our competitiveness, improve our operating model and carefully manage our financial resources.

We shipped four million Lumia Smartphones in Q2, and we plan to provide updates to current Lumia products over time, well beyond the launch of Windows Phone 8. We believe the Windows Phone 8 launch will be an important catalyst for Lumia. During the quarter, we demonstrated stability in our feature phone business, and enhanced our competitiveness with the introduction of our first full touch Asha devices. In Location & Commerce, our business with auto-industry customers continued to grow, and we made good progress establishing our location-based platform with businesses like Yahoo!, Flickr, and Bing. We continued to strengthen our patent portfolio and filed more patents in the first half of 2012 than any previous six month period since 2007. And, we are encouraged that Nokia Siemens Networks returned to underlying operating profitability through strong execution of its focused strategy.

We are executing with urgency on our restructuring program. We are disposing of non-core assets like Vertu. We are taking the necessary steps to restructure the operations of the company, which included the announcement of a new program on June 14. Faster than anticipated, we have already negotiated the closure of the Ulm, Germany R&D site, and the negotiations about the planned closure of our factory in Salo, Finland are proceeding in a collaborative spirit.

We held our net cash resources at a steady level after adjusting for the annual dividend payment to our shareholders. While Q3 will remain difficult, it is a critical priority to return our Devices & Services business to positive operating cash flow as quickly as possible."

Nokia's lead to the mobile phone market was overtaken by Samsung in the first quarter according to research firm Gartner.


Previous
Next
Segate To Buy OCZ Technology: Report        All News        Youtube Introduces Face Blurring Option
RIM Updates Developer Toolkits Prior To BlackBerry 10 Launch     Mobiles News      Fujitsu Releases Fingerprint Sensor Smartphone, Panasonic Shoots With New Lumix LX7

Get RSS feed Easy Print E-Mail this Message

Related News
Nokia Focuses On Virtual reality With Upgraded 'OZO Reality' Solutions
HMD Brings Nokia's Classic 3310 Phone Back
Nokia Captured 9 Percent Global Feature Phone Marketshare in 2016
BlackBerry Sues Nokia Over Patents
Nokia Launches Digital Assistant For Telecommunications Operators
Nokia Rumored To Develop Own "Viki" Mobile Digital Assistant
HMD's Nokia 6 Smartphone Set For Release In China
Nokia OZO Partners with Youku to Create and Distribute 3D 360 VR Content
Nokia Files More Suits Against Apple
Nokia Sues Apple For Infringement of Nokia Patents
HMD Launches The Nokia 150 Phones
Nokia D1C Specs Leak

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2017 - All rights reserved -
Privacy policy - Contact Us .