x
Devices/smartphones

Euronews: Nokia Loses $1.9B in Q2

Nokia Corp. (NYSE: NOK), Apple Inc. (Nasdaq: AAPL), ADVA Optical Networking and Samsung Corp. battle for the yellow jersey in today's tour d'EMEA telecom headlines.

  • Nokia reported an operating loss of €826 million (US$1 billion) on revenues of €7.54 billion ($9.3 billion) for the second quarter, but a whopping tax bill pushed its net loss for the quarter to €1.53 billion ($1.88 billion). The troubled handset giant suffered a 26 percent drop in Devices & Services revenues to €4 billion ($4.95 billion). During the quarter it shipped 83.7 million devices, down 5 percent from a year ago. Of those devices, just 10.2 million were smartphones, including 4 million Lumia devices. Its mobile device average selling price (ASP) dipped by 23 percent to €48 ($59). (See Euronews: You're on Your Own, Govt Tells Nokia, Nokia Poll: Microsoft Merger Expected and Nokia Cuts 10,000 Jobs, Restructures.)

  • Much gnashing of teeth in Cupertino: Bloomberg reports that a U.K. judge has ordered Apple to run notices on its U.K. website and in British newspapers telling the world that, contrary to what it had tried to prove in the courts, Samsung did not copy the iPad with its Galaxy tablet. (See OS Watch: Samsung & Apple Duke It Out .)

  • ADVA reported second quarter net income of €5.1 million ($6.3 million) from record high revenues of €85.9 million ($105.7 million), up 10.3 percent compared with a year ago. The transport vendor noted that the year-on-year increase in sales was "mostly related to higher demand for Ethernet transport solutions for mobile backhaul and enterprise access applications." (See ADVA Reports €5.1M Q2 Profit.)

  • In what may be good news for Telecom Italia (TIM) , the European Commission has launched an "infringement procedure" against Italian lawmakers over legislation they approved that allows operators to use third-party providers for maintenance and related activities on network capacity rented from the national incumbent or other carriers, according to Reuters. The Commission is concerned that the legislation could threaten the national regulator's independence.

  • Tele2 AB (Nasdaq: TLTO), the Sweden-based operator with strong interests in Central Europe and Russia, saw its net profits in the second quarter fall to 850 million Swedish kronor ($122.9 million), from SEK1.1 billion ($159 million) a year earlier. Kazakhstan is proving to be one of the operator's brighter spots, with the rate of customer growth now surpassing that of its Russian unit.

    — Paul Rainford, Assistant Editor, Europe, Light Reading

  • krishanguru143 12/5/2012 | 5:27:30 PM
    re: Euronews: Nokia Loses $1.9B in Q2



    It should also be noted that they only sold .6 million handsets in North America.  This does give credence the reports that showed that for the $150 million in marketing AT&T spent on the Lumia 900 (more than any other phone in their history) they only sold around 300,000 of them.

    Also looking at the numbers, they are still selling more Symbian devices than Lumias.  I hate to break it to Nokia, the WP plan has failed and failed miserably.  Attention Board of Directors at Nokia, dump WP and dump Elop.




    HOME
    Sign In
    SEARCH
    CLOSE
    MORE
    CLOSE