Siemens Profits Up, No Mobile Solution
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German engineering conglomerate Siemens posted first-quarter profits that beat expectations but failed to present a solution for its ailing mobile phones business on Thursday.
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European stocks were steady on Thursday amid results from key firms such as Philips which beat earnings estimates but gave a cautious outlook, while Siemens also reported higher-than-expected profits.
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Top U.S. phone company AT&T Inc.  on Tuesday said its profit and revenue rose, helped by strong growth in its wireless business and its acquisition of BellSouth.
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Industrial group Siemens  more than doubled operating profit in the July-September quarter, beating market expectations, as its core factory-automation, power and healthcare businesses thrived.
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German conglomerate Siemens AG said on  Thursday its annual China sales jumped 28 percent on strong  demand for gas turbines, and forecast further growth even as  the government slows down the economy.
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Contract manufacturer Flextronics  International Ltd  posted a quarterly profit that beat  expectations on Tuesday and stuck to its earnings forecasts,  sending its stock up nearly 5 percent.
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Texas Instruments Inc. TXN.N,  the largest maker of chips for cellular phones, on Monday said  quarterly profit rose about 26 percent on demand from handset  makers even as it struggles with a nagging inventory problem.
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AT&T Inc  on Thursday posted a higher quarterly profit after better-than-expected wireless growth, sending its shares up almost 3 percent in pre-market trading.
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Following the public outcry over the collapse of the German arm of mobile telephone maker BenQ and fierce political pressure, Siemens has said its management would forego planned pay rises of up to 30 percent and set up a fund to help BenQ's German employees instead.
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Fujitsu Siemens Computers (Holding) BV, Europe&#39;s largest remaining computer manufacturer, posted a 60 percent leap in profit for the first half of its fiscal year on higher sales of laptops and servers to business customers, the company said Wednesday.
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AT&T Inc.  on Tuesday posted higher-than-expected quarterly profit on strong wireless subscriber growth, but results of the first two days of iPhone sales fell short of forecasts.
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German engineering conglomerate Siemens  posted first-quarter profits that beat expectations but failed  to present a solution for its ailing mobile phones business on  Thursday.
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Business is booming at Siemens under the new chief executive. Yet the coming trials of some former executives have kept the company operating under a cloud.
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Nokia&#39;s net profit jumped in the third quarter as the company made up for the falling average selling price of its phones by shipping more of them, the company said Thursday.For the three months ending Sept. 30, net profit increased 85 percent over the third quarter of 2006, to &#8364;1.6 billion ($2.3 billion). Net sales rose 28 percent to &#8364;12.9 billion. Earnings per share rose 90 percent to &#8364;0.40.The company shipped 112 million units, 26 percent more than in the same period a year before. Nokia estimates it holds a 39 percent share of the mobile market.The ASP (average selling price) of mobile phones, however, has fallen from &#8364;90 to &#8364;82, Nokia said. The company said it expects the ASP to continue to decline but volume demand to increase through the end of this year and next.The most dramatic change came from Nokia&#39;s Enterprise Solutions business unit, which includes security appliances and software as well its E Series phones, which are aimed at business users. Operating profit for the unit was &#8364;88 million compared to a &#8364;65 million loss in the third quarter of 2006. Nokia attributed the rise to strong sales of its E65 model.Nokia Siemens Networks reported a 120 percent operating profit decline, which Nokia said was due to restructuring costs and other one-time items. The division, launched in April, is a combination of Nokia Networks and Siemens&#39; carrier-related operations for fixed and mobile networks. Nokia said it has identified &#8364;500 million in savings in combining the two entities that will be realized at the end of 2008.However, sales for Nokia Siemens Networks increased 7 percent over the second quarter of this year, which was the first quarter Nokia reported results for the division.
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Flextronics , the world's  largest contract electronics manufacturer, posted on Tuesday a  jump in quarterly profit from a year ago, when results were  weighed down by charges.
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Deutsche Telekom AG (DT) Thursday raised its 2004 net profit forecast and said it plans to resume paying dividends at a level last seen in the technology boom years after third-quarter earnings were boosted by ...
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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.