x
4G/3G/WiFi

Eurobites: Born-Again Nokia Blooms in Q3

Also in today's EMEA regional roundup: HERE's new boss; Orange slows decline; Telefónica's IoT Lego.

  • The "new" Nokia's financial recovery seems to have hit its stride, according to its third-quarter results, which show revenues up 13% year-on-year to €3.3 billion (US$4.17 billion) and improved gross margins. In its results statement, Nokia Corp. (NYSE: NOK) pointed to major new LTE network deployments in North America and "Greater China" as being primary drivers of growth. Investors were impressed: Nokia shares on the Helsinki stock exchange were up 4.07% to €6.78 on Thursday morning. (See Nokia Reports Improved Sales, Margins in Q3 and Nokia Holds Steady in Q2, Raises Outlook.)

  • Nokia's navigation technology unit, HERE, held its end up in the quarterly results, showing 12% year-on-year growth. To help maintain the momentum, Nokia has appointed Sean Fernback, formerly with sat-nav vendor TomTom, as president of HERE. The previous head of HERE, Michael Halbherr, stepped down in August.

  • Orange (NYSE: FTE)'s third-quarter numbers show it has slowed the rate of its revenue decline -- but the trend is still down. Revenues fell 3.2% year-on-year to €29.39 billion ($37.21 billion), while EBITDA (earnings before interest, tax, depreciation and amortization) fell 3.1% to €9.38 billion ($11.87 billion). Speaking on the results call, CFO Ramon Fernandez said that while Orange was still interested in consolidation in its home mobile market, it was not, Reuters reports, prepared to make the first move.

  • Away from the earnings frenzy, Telefónica SA (NYSE: TEF) has quietly released what it claims is the first mainstream consumer product for the Internet of Things (IoT). Called "Thinking Things," it looks like a particularly dull set of Lego bricks, but is actually a set of modular devices fitted with different sensors which use 2G connectivity to connect to the cloud and enable users to monitor temperature, humidity and light in a given space. For more details and an explanatory video, see this press release.

  • Revenues at Telekom Austria Group in the first nine months of 2014 declined 4.5% year-on-year to €2.98 billion ($3.77 billion), though the carrier said 80% of this decline was attributable to regulatory measures. A cost-cutting program helped translate this into a 0.9% growth in EBITDA, however. Telekom Austria is now controlled by Carlos Slim's América Móvil S.A. de C.V. , which sees ownership of the carrier as a platform for further expansion into Central and Eastern Europe. (See Euronews: Austria Braced for Slim Bid .)

  • Third-quarter revenues at ADVA Optical Networking were up 10.2% year-on-year at €87.1 million ($110.32 million), with the vendor pointing to enterprise business that has been boosted by the widespread adoption of cloud-based services requiring beefed-up networks.

    — Paul Rainford, Assistant Editor, Europe, Light Reading

  • Susan Fourtané 11/4/2014 | 5:20:38 PM
    Re: nokia does it again SachinEE, -- I believe I know the history of Nokia pretty well. I also believe we are talking about two different stories. I was talking about Nokia Networks, which has nothing to do now with Nokia's ex-devices and services division, which was the only division sold to Microsoft. Nokia still has three healthy divisions and as this article mentions, it's doing very well. Nokia's phones don't exist anymore. Microsoft will start selling its phones as Microsoft Lumia. That's good as so many people are still confused about what is Nokia and what is Microsoft now. Some even think that Microsoft bought the whole Nokia company, not just a division of it, and that Nokia doesn't exist anymore. -Susan
    SachinEE 10/25/2014 | 2:49:42 PM
    Re: nokia does it again "Exactly. I believe Nokia is a company that will never die. It has a fascinating story. And plenty of sisu. :) 

    In Finland, it is said that Nokia is a company with Sisu (a Finnish word that is pretty much a mental attitude and that can't be really translated, but we could say that sisu is about determination to take action against the odds, having courage to face adversity, and fighting even when apparently the case may be seen as lost. "

    Nokia has had disappointing quarterlies since 2010 and it couldn't pick itself up, and that is why Nokia's devices and services division has been bought by Microsoft which has the right to sell Nokia phones under Microsoft's name as a 10 year licesing deal.
    SachinEE 10/25/2014 | 2:42:49 PM
    Re: nokia does it again Every company has its ups and downs. Nokia for one, pursued a path that no one dared to follow, and that being the Windows Phone platform. The Lumia series, I have to agree, weren't the biggest or the boldest products into a market which was already dominated by iOS and Android, and many people disliked it (including me) because we felt that WP was still in alpha stage. WP 7.5 was the BETA and it felt complete during the 8.0 updates and onwards.
    Susan Fourtané 10/24/2014 | 7:09:05 AM
    Re: nokia does it again Kruz, 

    Exactly. I believe Nokia is a company that will never die. It has a fascinating story. And plenty of sisu. :) 

    In Finland, it is said that Nokia is a company with Sisu (a Finnish word that is pretty much a mental attitude and that can't be really translated, but we could say that sisu is about determination to take action against the odds, having courage to face adversity, and fighting even when apparently the case may be seen as lost. 

    This widely use of the word sisu to describe the Finnish spirit started when Finland won the Winter War to Russia, despite all the adversity. See this: Sisu: How to develop mental toughness in the face of adversity 

    If you know the story of Nokia, you will immediately see what I am talking about. 

    -Susan
    Kruz 10/23/2014 | 3:50:19 PM
    nokia does it again Again, Nokia succeeds in reinventing itself and becoming profitable. It is a company that has changed its portfolio so much in the last century.
    HOME
    Sign In
    SEARCH
    CLOSE
    MORE
    CLOSE