Euronews: Nokia's Q1 Device Disaster

Nokia Corp. (NYSE: NOK), Telia Company , Telenor Group (Nasdaq: TELN) and Nokia Networks slug it out in today's EMEA telecom mash-up.
  • Nokia reported a disastrous first-quarter net loss of €1.57 billion (US$ 2.05 billion) and an operating loss of €1.34 billion ($1.75 billion) on revenues of €7.35 billion ($9.64 billion), down 29 percent compared with the same period a year ago. Its Devices & Services division was the main cause of Nokia's woes, as its first-quarter sales, at €4.25 billion ($5.57 billion), were down 40 percent year-on-year. (See Nokia Q1 Loss Hits €1.57B, Is Nokia Losing Operator Support? and Nokia Dives on Lowered Device Outlook.)

  • TeliaSonera saw its first-quarter net income fall 15.9 percent year-on-year to SEK3.9 billion ($579 million) as it struggled on its Nordic home soil. President and CEO Lars Nyberg admitted that the operator had not yet cracked the charging issues relating to data and acknowledged that in the future there must be a "stronger correlation between usage and pricing of data." (See TeliaSonera Plays Games in the Cloud, Euronews: Nokia Bigwig Jumps to Sonera and TeliaSonera Plots 4G Voice Service in 2013.)

  • The Russian competition authority has filed a claim against Norway's Telenor over its purchase of more shares in VimpelCom Ltd. (NYSE: VIP) in February. Telenor had been trying to wrest back greater control of the Russian giant in what is a very long-running power struggle. On Feb. 15 Telenor bought 234 million VimpelCom preferred shares from Weather Investments for $374.4 million, increasing Telenor's voting share in VimpelCom to 36.36 percent. (See Antimonopoly Service Files Against Telenor, Telenor Opposes VimpelCom Acquisition of Wind and Telenor CEO Joins VimpelCom Board.)

  • Nokia Siemens Networks is extending its Long Term Evolution Time Division Duplex (LTE TDD) technology so that it supports the 1.9GHz frequency bands. According to the vendor, China Mobile Communications Corp. has plans to evolve its TD-SCDMA network to dual-mode, supporting both TD-SCDMA and LTE TDD services in the 1.9GHz band. (See NSN Supports LTE TDD at 1.9GHz, LTE TDD: Asia's Hot Tech and China Mobile, Anite Team on LTE TDD.)

    — Paul Rainford, Assistant Editor, Europe, Light Reading

  • Mjones_955 12/5/2012 | 5:35:44 PM
    re: Euronews: Nokia's Q1 Device Disaster

    That's very sad to know about nokia.

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