Nokia cuts operating margin targets
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Nokia Corp. on Tuesday cut its operating margin targets, blaming increased exposure to the network infrastructure business. It also predicted global sales of mobile phones would grow by 10 percent in 2007.
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Nokia took the wraps off four new entertainment devices that also work as cell phones.
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Nokia Oyj, the world&#39;s largest mobile- phone maker, said profit may drop for a second straight quarter after reporting a 20 percent decline in third-quarter earnings as it cut prices in a bid to regain market share.
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Flogging cheap mobiles is easy Nokia's swallowed an estimated 39 per cent of the global mobile phone market in its third quarter, sending profits rocketing 85 per cent.â¦
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Nokia , the world's top cellphone maker, said on Tuesday it plans to close its plant in Bochum, Germany, by mid-2008 and may cut up to 2,300 staff as it moves production to lower-cost regions.
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Nokia Corp., the world's No. 1 mobile phone maker, on Thursday said that fourth-quarter net profit surged 44 percent to $2.6 billion and that it had reached its long-term goal of 40 percent market share in handset sales. The company's stock soared.Finland-based Nokia said that net sales in October through December grew 34 percent to 15.7 billion euros ($22.9 billion), and that it sold more than 133 million handsets _ up 27 percent from the same period in 2006.'Nokia's excellent fourth quarter contributed to a year of high growth and increased profitability for the company,' Chief Executive Olli-Pekka Kallasvuo said. Read more
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(InfoWorld) - Nokia has introduced several phones and also announced a music recommendation service that hints at the potential for a full-blown music store from the company. The N75, announced Tuesday, is Nokia's smallest multimedia phone and is targeted at the U.S. market. The new phone includes a camera, a music player and Internet access. Nokia has been under pressure to release new, attractive devices in the U.S. since it announced in June that it will stop making CDMA (Code Division Multiple Access) phones, which are widely used in the U.S. "We don't rest until we make it here in the U.S.," said Anssi Vanjoki, executive vice president and general manager of multimedia for Nokia, during an event in New York that was Webcast. "The N75 will be my tool to get that going." Nokia also introduced the N95, a phone that includes a 5-megapixel camera, GPS (Global Positioning System) capability with mapping applications and 3D graphics. The N95 will operate on broadband WCDMA (wideband CDMA) and HSDPA (High Speed Downlink Packet Access) networks in Europe and Asia. It will also include Wi-Fi. The phone is based on Nokia's S60 software and the Symbian operating system and comes with Nokia's Web browser. Users can insert microSD cards for extra storage on the device and connect via mini USB (Universal Serial Bus) for data transfer. The N95 is expected to become available in the first quarter of 2007 for â¬550 ($703). The N75 will cost between $350 and $390 and should be available by the holiday buying season. Along with the phones, Nokia announced a music service that will become available worldwide by year-end. Registered users of the service can browse a Web site to read music recommendations. Nokia has lined up 40 recommenders who are independent music enthusiasts working for well-known record shops around the globe. Nokia has also signed on musician David Bowie to contribute a monthly feature or podcast about new music that he has discovered. Visitors to the site will also be able to listen to music clips and read artist interviews. The site will be launched first in the U.K. and Australia, although music fans around the world will be able to sign up to those sites when they're launched. Access to the site will be free. Vanjoki hinted that the site might be expanded based on technology Nokia expects to acquire through theÂ purchase of Loudeye. That acquisition, announced in August, hasn't closed yet so Vanjoki said he couldn't provide further details on how Loudeye's technology might be relevant to the new music recommendation site. He called Tuesday's announcement a "precursor" of things to come. Nokia also introduced music editions of three existing phones, the N70, N73 and N91. The phones include dedicated music access keys, additional storage capacity and new software to make synching easier.
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InfoWorld - Mobile phone maker Nokia will lay off 2,300 employees at a German plant and move production to lower-cost European sites, the company announced Tuesday.
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InfoWorld - Nokia will give away mapping software to its customers as well as users of Window Mobile devices.
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Two executive board members at Nokia resigned on Friday, bringing to three the number of top level managers to leave the worldâs largest producer of mobile phones in the last two weeks.
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Nokia has reported a 20% decline in net profit for the third quarter, due largely to cuts it made in the prices for its mobile phones and predicted that earnings would fall again in the fourth quarter.
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Nokia, the world's largest mobile phone maker, said it would cut costs in its Multimedia Business Group by shedding workers in the division's research and development department.
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MOBILE phone giant Nokia has reported a drop in third-quarter profits after cutting handset prices to win back market share, but said sales had picked up.
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Business did not turn out in rosy hues for Nokia Corp in the third quarter as the telecom giant reported a 20-percent drop in operating profit and a small 1-percent increase in net sales.
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Nokia plans to fold all its mobile phone development efforts into a single new business unit.
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Nokia is laying off 2300 employees at a German factory and moving production to lower-cost sites.
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Despite falling prices, Nokia squeezes out profits on sales of 106 million handsets in the fourth quarter of 2006.