Nokia Profit Off in Quarter; Handset Price Cuts Cited
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Nokia said on Thursday that its third-quarter profit was higher than many analysts had forecast, but still a fifth lower than a year ago.
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Nokia, the world&#39;s largest maker of mobile phones, continued to regain lost market share in the third quarter with its global share of handset sales again rising above 30 per cent
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Wireless technology company Motorola Inc. said Thursday its profit plunged 94 percent in the third quarter, as sales fell substantially in its cell phone business and it narrowly averted a third straight quarterly loss.
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Ericsson, the world&#39;s largest maker of mobile phone networks, posted a quarterly profit on Friday, but reported disappointing new orders and offered a subdued outlook for 2005.
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Nokia has announced its third quarter results, beating expectations and growing market share, but showing a decline in revenues from mobile phones after a price cuts pushed through in the previous quarter.
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Nippon Telegraph and Telephone Corp., Japan's top telecommunications company, reported a 21.8 percent drop in profit for the April-December period Monday due to declines in voice and fixed-line operations.
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Nokia, the world's leading maker of mobile phones, has said it would shed some 700 jobs, with Finland taking the brunt of the cuts.
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Operating profits slipped 5.5 percent at Cingular Wireless LLC despite gains in both subscribers and revenue in what was likely the last full quarter before the company's completes its &#36;41 billion purchase of AT&amp;T Wireless Services Inc.
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Sony Corp. on Thursday cut its operating  profit estimate for this business year by 31 percent, citing  sharply falling prices of televisions, DVD recorders and other  key products and weak demand for chips.
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NOKIA&#39;S SALES SLIDE has been halted according to figures released by the Gartner Group. The analysts predict Nokia&#39;s share of the global market crept back to almost 30 per cent.
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Nokia, the world's biggest cell phone  maker, reported lower third-quarter earnings on Thursday after  cutting prices to claw back market share, but said sales were  strong as it enters the key Christmas season.
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Nokia was a leading gainer Wednesday as European stock markets clawed back some of the steep losses from the previous session.
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Motorola Inc., the world's No. 2 maker  of cell phones, on Tuesday said its quarterly profit more than  tripled, but growth in handset volumes disappointed Wall Street  and its shares fell 4.5 percent.
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Nokia NOK1V.HE, the world's largest  cell phone maker, reported lower third-quarter earnings on  Thursday after cutting prices to claw back market share, but  said sales were strong as it enters the key Christmas season.
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Motorola Inc  on Thursday  posted a small third quarter profit from continuing operations  and forecast another profit for the current quarter even as  revenue fell from a year ago.
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Nokia Oyj, the world&#39;s largest mobile- phone maker, said profit may drop for a second straight quarter. Earnings fell 20 percent in the three months ended in September because the company cut prices to regain market share.
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Samsung Electronics Co. said Tuesday that its fourth-quarter net profit fell 6.6 percent amid sharp declines in prices for computer memory chips, though sales of mobile phone handsets surged to a record.