Siemens warns fourth-quarter earnings to be hit by mobile phone fault
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German electronics giant Siemens said that financial burdens connected with a technical fault in its new mobile phone handsets were likely to reduce earnings in the final quarter of its business year ending in September.
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Siemens AG tried Sunday to blunt fierce criticism from politicians, labor unions and the media for unloading its mobile phone business on a Taiwanese company which has failed to keep it afloat.
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Siemens AG, maker of big-ticket industrial goods such as power generators and streetcars, saw profits fall 10 percent in its most recent quarter, the company said Thursday, as its mobile phone and transportation businesses posted losses.
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German electronics giant Siemens has nothing to announce just yet regarding the fate of its mobile phone activities, chairman Heinrich Von Pierer said.
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German electronics giant Siemens has failed to find a buyer for its loss-making Enterprise Networks division, with observers directly blaming the debacle surrounding the collapse of mobile phone maker BenQ Mobile, the Financial Times Deutschland reported.
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Texas Instruments Inc , the  biggest maker of chips for mobile phones, on Monday reduced its  fourth-quarter earnings outlook on lower-than-expected chip  revenue.
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German engineering giant Siemens posted solid fourth quarter results Thursday, but a shadow clouded the presentation as it admitted 1.3 billion euros (billion dollars) in dubious transactions in its accounts.
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Sprint Nextel Corp  reported  deeper than expected subscriber losses on Friday and said it  would cut about 4,000 jobs, raising fears of a slowdown in the  U.S. wireless industry, and its stock dropped nearly 25  percent.
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Media company Belo Corp. estimated that fourth-quarter earnings Wednesday will likely fall in line with analysts&#39; figures. Belo, which publishes the flagship Dallas Morning News, said that it expects fourth
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Motorola will cut an additional 4,000 jobs as the mobile phone maker tries to cope with tough global competition.
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Investors looking at Qualcomm&#39;s (QCOM:Nasdaq - news - research) fourth-quarter earnings report will be seeking a clear signal on the wireless sector.
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German electronics giant Siemens said on Friday that financial burdens connected with a technical fault in its new mobile phone handsets were likely to reduce earnings in the final quarter of its business year ending in September.
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Siemens AG tried Sunday to blunt fierce criticism from politicians, labor unions and the media for unloading its mobile phone business on a Taiwanese company which has failed to keep it afloat.Comment
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Cell phone maker Motorola Inc. on Wednesday warned of a second-quarter profit and sales shortfall, blaming poor results in its mobile devices business in Asia and Europe. The company also said it no longer expects mobile devices &#151; its largest business &#151; to be profitable in 2007.
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The announcement comes after Sprint last week reported deeper-than-expected customer losses for the fourth quarter and said it would cut about 4,000 jobs in a bid to reduce costs.
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Siemens has issued a statement warning users of a bug in their 65-series handsets (C65, CX65, M65, S65, SL65 as well as all provider variations such as the CV65, CT65, CXV65 and CXT65).
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German phone maker Siemens could see a dent in its mobile handset sales and may post a loss in the unit after it halted sales of faulty models that could cause hearing damage, it says.